Bausch + Lomb (NYSE:BLCO - Free Report) had its price objective lowered by Royal Bank of Canada from $18.00 to $17.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.
Other equities research analysts have also issued reports about the stock. Citigroup lowered shares of Bausch + Lomb from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $24.00 to $22.00 in a report on Wednesday, December 11th. Needham & Company LLC reiterated a "hold" rating on shares of Bausch + Lomb in a report on Thursday, February 20th. Bank of America cut their target price on shares of 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 price objective on shares of Bausch + Lomb from $17.00 to $15.00 and set a "hold" rating on the stock in a report on Thursday, April 3rd. Finally, Wells Fargo & Company reissued an "equal weight" rating and issued a $15.00 price target (down from $24.00) on shares of Bausch + Lomb in a research report on Friday, March 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Bausch + Lomb has a consensus rating of "Hold" and an average price target of $18.82.
Check Out Our Latest Research Report on Bausch + Lomb
Bausch + Lomb Price Performance
Bausch + Lomb stock traded up $0.26 during midday trading on Friday, hitting $11.26. 547,256 shares of the company's stock were exchanged, compared to its average volume of 618,904. The stock has a 50-day moving average price of $15.50 and a two-hundred day moving average price of $17.80. Bausch + Lomb has a 52-week low of $10.48 and a 52-week high of $21.69. The company has a market cap of $3.97 billion, a P/E ratio of -12.30, a PEG ratio of 0.85 and a beta of 0.54. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.60.
Bausch + Lomb (NYSE:BLCO - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. Bausch + Lomb had a negative net margin of 6.62% and a positive return on equity of 3.35%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the business earned $0.24 earnings per share. The firm's quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts forecast that Bausch + Lomb will post 0.74 earnings per share for the current year.
Institutional Trading of Bausch + Lomb
A number of large 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% in the fourth quarter. Blue Trust Inc. now owns 2,474 shares of the company's stock worth $48,000 after acquiring an additional 1,004 shares during the period. FNY Investment Advisers LLC bought a new position in shares of Bausch + Lomb during the 4th quarter valued at about $72,000. Commonwealth Equity Services LLC purchased a new stake in shares of Bausch + Lomb in the fourth quarter worth about $181,000. Alpine Global Management LLC bought a new position in Bausch + Lomb during the fourth quarter valued at approximately $181,000. Finally, Covestor Ltd bought a new stake in Bausch + Lomb in the 4th quarter worth approximately $188,000. 11.07% of the stock is currently owned by institutional investors.
About Bausch + Lomb
(
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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.
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