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

Bausch + Lomb (NYSE:BLCO) had its target price decreased by research analysts at Royal Bank of Canada from $23.00 to $22.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 23.15% from the company’s previous close.

A number of other brokerages have also recently issued reports on BLCO. HC Wainwright reiterated a “buy” rating and issued a $23.00 price objective on shares of Bausch + Lomb in a report on Thursday, December 12th. Stifel Nicolaus cut their price objective on Bausch + Lomb from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Wednesday. Citigroup cut shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $24.00 to $22.00 in a research report on Wednesday, December 11th. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a research report on Thursday, October 31st. Finally, Wells Fargo & Company cut their price target on Bausch + Lomb from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Bausch + Lomb has an average rating of “Hold” and an average price target of $20.25.

Bausch + Lomb Trading Up 2.6 %

NYSE BLCO traded up $0.46 on Wednesday, hitting $17.87. 108,238 shares of the stock were exchanged, compared to its average volume of 551,920. The company’s 50-day moving average price is $18.41 and its two-hundred day moving average price is $18.14. The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of -16.98, a P/E/G ratio of 2.17 and a beta of 0.47. Bausch + Lomb has a 52-week low of $13.16 and a 52-week high of $21.69. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.57 and a quick ratio of 0.95.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings data 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. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. Bausch + Lomb had a positive return on equity of 3.17% and a negative net margin of 7.86%. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 EPS. Research analysts predict that Bausch + Lomb will post 0.6 EPS for the current year.

Hedge Funds Weigh In On Bausch + Lomb

Several hedge funds have recently made changes to their positions in BLCO. Blue Trust Inc. boosted its holdings 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 purchasing an additional 1,004 shares during the last quarter. FNY Investment Advisers LLC acquired 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 2nd quarter worth about $173,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Bausch + Lomb in the 3rd quarter valued at about $289,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Bausch + Lomb in the third quarter valued at about $289,000. 11.07% of the stock is owned by institutional investors.

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.