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

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

Other analysts also recently issued research reports about the company. Stifel Nicolaus decreased their target price on Bausch + Lomb from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Wednesday. Wells Fargo & Company dropped their target price on shares of Bausch + Lomb from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Evercore ISI raised shares of Bausch + Lomb from an “in-line” rating to an “outperform” rating and increased their price target for the company from $19.00 to $25.00 in a report on Tuesday, October 15th. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a research report on Thursday, October 31st. Finally, Bank of America reaffirmed an “underperform” rating and set a $18.00 price objective on shares of Bausch + Lomb in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.25.

Bausch + Lomb Trading Down 1.7 %

Shares of BLCO stock opened at $17.34 on Wednesday. Bausch + Lomb has a 12 month low of $13.16 and a 12 month high of $21.69. The company has a market cap of $6.11 billion, a PE ratio of -16.52, a price-to-earnings-growth ratio of 2.37 and a beta of 0.47. The company has a quick ratio of 0.95, a current ratio of 1.57 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average is $18.29 and its two-hundred day moving average is $18.14.

Bausch + Lomb (NYSE:BLCO) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.17%. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 earnings per share. Equities analysts predict that Bausch + Lomb will post 0.6 EPS for the current year.

Hedge Funds Weigh In On Bausch + Lomb

Several hedge funds and other institutional investors have recently modified their holdings of the stock. River Road Asset Management LLC raised its stake in Bausch + Lomb by 4.4% during the third quarter. River Road Asset Management LLC now owns 2,020,414 shares of the company’s stock worth $38,974,000 after acquiring an additional 85,987 shares in the last quarter. King Street Capital Management L.P. acquired a new stake in shares of Bausch + Lomb during the 3rd quarter worth about $14,122,000. Barclays PLC bought a new position in Bausch + Lomb during the 3rd quarter valued at about $5,797,000. Point72 DIFC Ltd acquired a new position in Bausch + Lomb in the third quarter valued at about $4,331,000. Finally, Marshall Wace LLP bought a new stake in Bausch + Lomb during the second quarter worth about $1,911,000. Institutional investors own 11.07% of the company’s stock.

About Bausch + Lomb

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.