Bausch + Lomb (NYSE:BLCO) Price Target Cut to $15.00

Bausch + Lomb (NYSE:BLCO) had its target price lowered by analysts at Evercore from $17.00 to $15.00 in a note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has an “in-line” rating on the stock. Evercore’s price target would suggest a potential upside of 10.29% from the stock’s previous close.

A number of other research firms also recently commented on BLCO. Royal Bank of Canada dropped their target price on shares of Bausch + Lomb from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Evercore ISI raised their price objective on Bausch + Lomb from $16.50 to $17.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a report on Wednesday. Wells Fargo & Company raised their price target on Bausch + Lomb from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note 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 note on Monday, February 26th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $19.27.

Bausch + Lomb Stock Down 1.9 %

Shares of NYSE BLCO opened at $13.60 on Thursday. The business has a 50-day moving average of $15.84 and a two-hundred day moving average of $15.63. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of -14.17, a price-to-earnings-growth ratio of 1.33 and a beta of 0.47. Bausch + Lomb has a 1 year low of $13.16 and a 1 year high of $21.95. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.74 and a quick ratio of 1.09.

Bausch + Lomb (NYSE:BLCO) last posted its earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Bausch + Lomb had a positive return on equity of 3.57% and a negative net margin of 7.81%. Bausch + Lomb’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 EPS. On average, analysts forecast that Bausch + Lomb will post 0.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bausch + Lomb

A number of institutional investors have recently added to or reduced their stakes in BLCO. Renaissance Capital LLC lifted its holdings in shares of Bausch + Lomb by 3.0% in the 1st quarter. Renaissance Capital LLC now owns 23,076 shares of the company’s stock valued at $399,000 after buying an additional 669 shares during the period. Gabelli Funds LLC increased its stake in shares of Bausch + Lomb by 2.3% during the 3rd quarter. Gabelli Funds LLC now owns 263,744 shares of the company’s stock worth $4,470,000 after purchasing an additional 6,017 shares in the last quarter. Black Swift Group LLC acquired a new position in shares of Bausch + Lomb during the 3rd quarter worth approximately $170,000. Brandes Investment Partners LP lifted its position in shares of Bausch + Lomb by 11.0% in the fourth quarter. Brandes Investment Partners LP now owns 114,200 shares of the company’s stock valued at $1,948,000 after acquiring an additional 11,321 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Bausch + Lomb during the 3rd quarter worth about $255,000. Hedge funds and other institutional investors 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.