Bausch + Lomb (NYSE:BLCO) PT Lowered to $18.00 at Royal Bank of Canada

Bausch + Lomb (NYSE:BLCO) had its target price cut by Royal Bank of Canada from $20.00 to $18.00 in a research note issued to investors on Monday morning, Marketbeat Ratings reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Barclays boosted their price target on shares of Bausch + Lomb from $17.00 to $18.00 and gave the company an equal weight rating in a research report on Monday, February 26th. Evercore ISI boosted their price target on shares of Bausch + Lomb from $16.50 to $17.00 and gave the company an in-line rating in a research report on Thursday, April 4th. Evercore reduced their target price on shares of Bausch + Lomb from $17.00 to $16.50 and set an in-line rating for the company in a report on Thursday, February 22nd. Finally, Wells Fargo & Company upped their target price on shares of Bausch + Lomb from $21.00 to $23.00 and gave the company an overweight rating in a report on Thursday, February 22nd. Five investment 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, Bausch + Lomb has a consensus rating of Moderate Buy and a consensus price target of $19.50.

Bausch + Lomb Stock Performance

Shares of BLCO stock opened at $14.90 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. The firm has a fifty day moving average price of $15.93 and a 200 day moving average price of $15.72. The company has a market cap of $5.24 billion, a P/E ratio of -20.13, a PEG ratio of 1.41 and a beta of 0.36. Bausch + Lomb has a 12 month low of $13.62 and a 12 month high of $21.95.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.07. Bausch + Lomb had a negative net margin of 6.27% and a positive return on equity of 3.70%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the company earned $0.23 earnings per share. Bausch + Lomb’s quarterly revenue was up 17.8% compared to the same quarter last year. Sell-side analysts predict that Bausch + Lomb will post 0.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Black Swift Group LLC acquired a new position in shares of Bausch + Lomb during the third quarter worth about $170,000. Jump Financial LLC acquired a new position in shares of Bausch + Lomb during the third quarter worth about $255,000. Renaissance Capital LLC increased its stake in shares of Bausch + Lomb by 27.3% during the fourth quarter. Renaissance Capital LLC now owns 22,407 shares of the company’s stock worth $382,000 after acquiring an additional 4,801 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Bausch + Lomb during the third quarter worth about $466,000. Finally, Tectonic Advisors LLC grew its position in Bausch + Lomb by 4.7% during the third quarter. Tectonic Advisors LLC now owns 42,323 shares of the company’s stock worth $717,000 after buying an additional 1,907 shares during the period. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.