Bank of America Cuts Bausch + Lomb (NYSE:BLCO) Price Target to $17.00

Bausch + Lomb (NYSE:BLCO) had its target price trimmed by Bank of America from $18.00 to $17.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an underperform rating on the stock.

BLCO has been the subject of several other research reports. Morgan Stanley lowered shares of Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price objective for the company. in a research report on Monday, December 2nd. Citigroup lowered shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $24.00 to $22.00 in a research report on Wednesday, December 11th. Royal Bank of Canada reduced their target price on shares of Bausch + Lomb from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. HC Wainwright reissued a “buy” rating and issued a $23.00 target price on shares of Bausch + Lomb in a research note on Tuesday. Finally, Wells Fargo & Company reduced 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 note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $19.83.

Bausch + Lomb Price Performance

BLCO stock opened at $15.92 on Thursday. Bausch + Lomb has a 52 week low of $13.16 and a 52 week high of $21.69. 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 company has a fifty day simple moving average of $17.42 and a two-hundred day simple moving average of $18.13. The firm has a market capitalization of $5.61 billion, a P/E ratio of -15.16, a price-to-earnings-growth ratio of 2.18 and a beta of 0.46.

Bausch + Lomb (NYSE:BLCO) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.17%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business earned $0.24 earnings per share. Bausch + Lomb’s quarterly revenue was up 9.1% compared to the same quarter last year. Analysts anticipate that Bausch + Lomb will post 0.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BLCO. Blue Trust Inc. increased its stake in Bausch + Lomb by 68.3% in the 4th quarter. Blue Trust Inc. now owns 2,474 shares of the company’s stock worth $48,000 after buying an additional 1,004 shares during the period. FNY Investment Advisers LLC purchased a new position in Bausch + Lomb in the 4th quarter worth about $72,000. Commonwealth Equity Services LLC purchased a new position in Bausch + Lomb in the 4th quarter worth about $181,000. Alpine Global Management LLC purchased a new position in Bausch + Lomb in the 4th quarter worth about $181,000. Finally, Covestor Ltd purchased a new position in Bausch + Lomb in the 4th quarter worth about $188,000. 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.