Royal Bank of Canada Cuts Bausch + Lomb (NYSE:BLCO) Price Target to $22.00

Bausch + Lomb (NYSE:BLCOFree Report) had its target price cut by Royal Bank of Canada from $23.00 to $22.00 in a research note released on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also issued reports on BLCO. Wells Fargo & Company cut their target price on Bausch + Lomb from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Morgan Stanley lowered Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price target for the company. in a report on Monday, December 2nd. HC Wainwright reaffirmed a “buy” rating and set a $23.00 price objective on shares of Bausch + Lomb in a research report on Thursday, December 12th. Evercore ISI raised shares of Bausch + Lomb from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $19.00 to $25.00 in a research report on Tuesday, October 15th. Finally, Citigroup cut shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $24.00 to $22.00 in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.25.

Check Out Our Latest Analysis on BLCO

Bausch + Lomb Stock Performance

Shares of BLCO opened at $17.90 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.57 and a quick ratio of 0.95. The firm’s 50 day moving average is $18.38 and its 200-day moving average is $18.13. Bausch + Lomb has a 12-month low of $13.16 and a 12-month high of $21.69. The stock has a market capitalization of $6.31 billion, a P/E ratio of -17.04, a P/E/G ratio of 2.17 and a beta of 0.47.

Bausch + Lomb (NYSE:BLCOGet Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.17%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the business posted $0.22 earnings per share. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. Equities research analysts anticipate that Bausch + Lomb will post 0.6 EPS for the current fiscal year.

Institutional Trading of Bausch + Lomb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLCO. Blue Trust Inc. increased its position in Bausch + Lomb by 68.3% during the fourth quarter. Blue Trust Inc. now owns 2,474 shares of the company’s stock worth $48,000 after acquiring an additional 1,004 shares during the period. FNY Investment Advisers LLC bought a new position in shares of Bausch + Lomb during the 4th quarter worth about $72,000. Squarepoint Ops LLC acquired a new position in shares of Bausch + Lomb during the second quarter valued at about $173,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Bausch + Lomb during the third quarter valued at about $289,000. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Bausch + Lomb in the third quarter valued at about $289,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Bausch + Lomb Company Profile

(Get Free Report)

Bausch + Lomb Corporation operates as an eye health company in the United States, Puerto Rico, China, France, Japan, Germany, the United Kingdom, Canada, Russia, Spain, Italy, Mexico, Poland, South Korea, and internationally. It operates in three segments: Vision Care, Pharmaceuticals, and Surgical. The Vision Care segment provides contact lens that covers the spectrum of wearing modalities, including daily disposable and frequently replaced contact lenses; and contact lens care products comprising over-the-counter eye drops, eye vitamins, and mineral supplements that address various conditions, such as eye allergies, conjunctivitis, dry eye, and redness relief.

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