Bausch + Lomb (NYSE:BLCO) Price Target Lowered to $24.00 at Wells Fargo & Company

Bausch + Lomb (NYSE:BLCO - Free Report) had its target price cut by Wells Fargo & Company from $26.00 to $24.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

BLCO has been the subject of several other reports. Citigroup lowered shares of Bausch + Lomb from a "buy" rating to a "neutral" rating and cut their target price for the company from $24.00 to $22.00 in a research note on Wednesday, December 11th. Needham & Company LLC reiterated a "hold" rating on shares of Bausch + Lomb in a research report on Thursday, October 31st. Evercore ISI upgraded Bausch + Lomb from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $19.00 to $25.00 in a report on Tuesday, October 15th. Morgan Stanley lowered Bausch + Lomb from an "overweight" rating to an "equal weight" rating and set a $19.00 target price on the stock. in a research report on Monday, December 2nd. Finally, Stifel Nicolaus increased their price target on Bausch + Lomb from $16.00 to $19.00 and gave the company a "hold" rating in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $20.42.

Bausch + Lomb Price Performance

Shares of BLCO stock traded up $0.15 during mid-day trading on Thursday, hitting $17.42. 855,337 shares of the stock traded hands, compared to its average volume of 452,654. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.95 and a current ratio of 1.57. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of -16.59, a price-to-earnings-growth ratio of 1.23 and a beta of 0.47. The company's 50-day simple moving average is $18.88 and its 200-day simple moving average is $17.98. Bausch + Lomb has a twelve month low of $13.16 and a twelve month high of $21.69.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.01. Bausch + Lomb had a positive return on equity of 3.17% and a negative net margin of 7.86%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company earned $0.22 earnings per share. Bausch + Lomb's revenue was up 18.8% compared to the same quarter last year. As a group, equities research analysts expect that Bausch + Lomb will post 0.6 earnings per share for the current year.

Hedge Funds Weigh In On Bausch + Lomb

Several institutional investors and hedge funds have recently bought and sold shares of BLCO. FNY Investment Advisers LLC acquired a new stake in shares of Bausch + Lomb during the fourth quarter worth approximately $72,000. Squarepoint Ops LLC acquired a new stake in shares of Bausch + Lomb during the 2nd quarter valued at $173,000. Polar Asset Management Partners Inc. acquired a new stake in shares of Bausch + Lomb during the 3rd quarter valued at $289,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Bausch + Lomb during the 3rd quarter valued at $289,000. Finally, Verition Fund Management LLC acquired a new position in shares of Bausch + Lomb in the third quarter worth $302,000. Hedge funds and other institutional investors own 11.07% of the company's stock.

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.