Bausch + Lomb (NYSE:BLCO) PT Lowered to $18.00

Bausch + Lomb (NYSE:BLCO) had its price target cut by stock analysts at Royal Bank of Canada from $20.00 to $18.00 in a report issued on Monday, Marketbeat.com reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 21.21% from the stock’s previous close.

Several other equities research analysts have also weighed in on BLCO. Wells Fargo & Company increased their target price on shares of Bausch + Lomb from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Evercore ISI boosted their target price on Bausch + Lomb from $16.50 to $17.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Evercore dropped their price target on Bausch + Lomb from $17.00 to $16.50 and set an “in-line” rating on the stock in a research report on Thursday, February 22nd. Finally, Barclays boosted their price objective on Bausch + Lomb from $17.00 to $18.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Bausch + Lomb currently has a consensus rating of “Moderate Buy” and an average target price of $19.50.

Bausch + Lomb Stock Performance

Bausch + Lomb stock opened at $14.85 on Monday. The company has a current ratio of 1.74, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65. Bausch + Lomb has a 1 year low of $13.62 and a 1 year high of $21.95. The company has a market cap of $5.22 billion, a PE ratio of -20.07, a PEG ratio of 1.41 and a beta of 0.36. The company’s 50-day moving average is $15.92 and its two-hundred day moving average is $15.73.

Bausch + Lomb (NYSE:BLCO) last released its earnings results on Wednesday, February 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.07. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.11 billion. Bausch + Lomb had a negative net margin of 6.27% and a positive return on equity of 3.70%. The company’s revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 EPS. Equities analysts anticipate that Bausch + Lomb will post 0.65 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd acquired a new stake in Bausch + Lomb in the 3rd quarter valued at $466,000. River Road Asset Management LLC raised its holdings in Bausch + Lomb by 21.6% during the fourth quarter. River Road Asset Management LLC now owns 1,938,207 shares of the company’s stock worth $33,066,000 after acquiring an additional 343,772 shares in the last quarter. Black Swift Group LLC acquired a new position in Bausch + Lomb during the third quarter valued at approximately $170,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Bausch + Lomb in the third quarter valued at approximately $5,091,000. Finally, TD Asset Management Inc acquired a new position in shares of Bausch + Lomb during the 3rd quarter worth approximately $2,752,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Bausch + Lomb Company Profile

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.