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

Bausch + Lomb (NYSE:BLCO - Free Report) had its price objective decreased by Bank of America from $18.00 to $17.00 in a research note issued to investors on Thursday,Benzinga reports. Bank of America currently has an underperform rating on the stock.

A number of other analysts have also recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of Bausch + Lomb from $26.00 to $24.00 and set an "overweight" rating for the company in a research note on Thursday, January 16th. Royal Bank of Canada cut their target price on shares of Bausch + Lomb from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Wednesday, January 29th. Morgan Stanley cut 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 note on Monday, December 2nd. HC Wainwright reiterated a "buy" rating and issued a $23.00 price objective on shares of Bausch + Lomb in a research note on Tuesday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Bausch + Lomb in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $19.83.

Bausch + Lomb Stock Down 0.9 %

Bausch + Lomb stock traded down $0.15 during mid-day trading on Thursday, reaching $15.75. The company's stock had a trading volume of 589,710 shares, compared to its average volume of 684,586. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of -17.30, a price-to-earnings-growth ratio of 2.17 and a beta of 0.46. Bausch + Lomb has a 12 month low of $13.16 and a 12 month high of $21.69. The business's 50 day simple moving average is $17.36 and its 200 day simple moving average is $18.13. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.95 and a current ratio of 1.57.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.02. Bausch + Lomb had a negative net margin of 6.62% and a positive return on equity of 3.34%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the firm earned $0.24 earnings per share. The firm's revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, research analysts anticipate that Bausch + Lomb will post 0.79 earnings per share for the current year.

Institutional Investors Weigh In On Bausch + Lomb

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its holdings in shares of Bausch + Lomb by 68.3% during the 4th quarter. Blue Trust Inc. now owns 2,474 shares of the company's stock valued at $48,000 after purchasing an additional 1,004 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Bausch + Lomb during the 4th quarter valued at approximately $72,000. Commonwealth Equity Services LLC bought a new stake in shares of Bausch + Lomb during the 4th quarter valued at approximately $181,000. Alpine Global Management LLC bought a new stake in shares of Bausch + Lomb during the 4th quarter valued at approximately $181,000. Finally, Covestor Ltd bought a new stake in shares of Bausch + Lomb during the 4th quarter valued at approximately $188,000. 11.07% of the stock is owned by institutional investors.

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.