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

Bausch + Lomb (NYSE:BLCO) had its target price cut by Royal Bank of Canada from $18.00 to $17.00 in a research report report published on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms also recently commented on BLCO. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Bausch + Lomb in a report on Tuesday, February 18th. Bank of America decreased their price objective on Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating on the stock in a research note on Thursday, February 20th. Stifel Nicolaus cut their target price on Bausch + Lomb from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday. Citigroup cut Bausch + Lomb from a “buy” rating to a “neutral” rating and decreased their price target for the company from $24.00 to $22.00 in a research report on Wednesday, December 11th. Finally, Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Bausch + Lomb has a consensus rating of “Hold” and a consensus target price of $18.82.

Bausch + Lomb Trading Down 7.2 %

NYSE:BLCO opened at $12.05 on Friday. Bausch + Lomb has a 12 month low of $11.94 and a 12 month high of $21.69. The company has a current ratio of 1.60, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72. The firm’s 50 day moving average is $15.88 and its 200 day moving average is $17.97. The stock has a market capitalization of $4.25 billion, a PE ratio of -13.24, a price-to-earnings-growth ratio of 0.85 and a beta of 0.54.

Bausch + Lomb (NYSE:BLCO) last issued its earnings results on Wednesday, February 19th. The company reported $0.25 earnings per share (EPS) 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 firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the company posted $0.24 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. Sell-side analysts expect that Bausch + Lomb will post 0.74 earnings per share for the current year.

Institutional Trading of Bausch + Lomb

Several institutional investors and hedge funds have recently made changes to their positions in BLCO. Alberta Investment Management Corp raised its position in Bausch + Lomb by 36.0% during the fourth 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 in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of Bausch + Lomb during the 4th quarter valued at about $14,122,000. King Street Capital Management L.P. bought a new stake in Bausch + Lomb in the 3rd quarter worth approximately $14,122,000. Arrowstreet Capital Limited Partnership boosted its stake in Bausch + Lomb by 51.5% in 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 Bausch + Lomb during the third quarter valued at approximately $5,797,000. 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.