Stifel Nicolaus Cuts Bausch + Lomb (NYSE:BLCO) Price Target to $15.00

Bausch + Lomb (NYSE:BLCO) had its target price reduced by Stifel Nicolaus from $17.00 to $15.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a hold rating on the stock.

A number of other research firms have also recently weighed in on BLCO. Citigroup cut Bausch + Lomb from a “buy” rating to a “neutral” rating and dropped their price target for the company from $24.00 to $22.00 in a research note on Wednesday, December 11th. Bank of America cut their target price on shares of Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating for the company in a research note on Thursday, February 20th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $15.00 price target (down previously from $24.00) on shares of Bausch + Lomb in a research note on Friday, March 28th. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 target price on shares of Bausch + Lomb in a research report on Tuesday, February 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.82.

Bausch + Lomb Price Performance

NYSE BLCO opened at $12.05 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.60. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of -13.24, a PEG ratio of 0.85 and a beta of 0.54. The business has a 50 day simple moving average of $15.88 and a 200 day simple moving average of $17.98. Bausch + Lomb has a 52-week low of $11.94 and a 52-week high of $21.69.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. Bausch + Lomb had a positive return on equity of 3.35% and a negative net margin of 6.62%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the company earned $0.24 EPS. Bausch + Lomb’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts anticipate that Bausch + Lomb will post 0.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BLCO. Alberta Investment Management Corp grew its holdings in shares of Bausch + Lomb by 36.0% during the 4th quarter. Alberta Investment Management Corp now owns 3,008,193 shares of the company’s stock valued at $54,328,000 after purchasing an additional 796,400 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Bausch + Lomb during the fourth quarter worth $14,122,000. King Street Capital Management L.P. bought a new stake in shares of Bausch + Lomb during the third quarter worth $14,122,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Bausch + Lomb by 51.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,218,431 shares of the company’s stock worth $21,996,000 after buying an additional 414,138 shares in the last quarter. Finally, Barclays PLC bought a new position in shares of Bausch + Lomb in the 3rd quarter valued at $5,797,000. 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.