Bausch + Lomb (NYSE:BLCO) Price Target Lowered to $18.00 at Royal Bank of Canada

Bausch + Lomb (NYSE:BLCO - Free Report) had its target price decreased by Royal Bank of Canada from $22.00 to $18.00 in a research note issued to investors on Thursday, Marketbeat.com reports. Royal Bank of Canada currently has an outperform rating on the stock.

BLCO has been the topic of several other research reports. Needham & Company LLC restated a "hold" rating on shares of Bausch + Lomb in a research report on Thursday. Stifel Nicolaus reduced their target price on Bausch + Lomb from $19.00 to $18.00 and set a "hold" rating on the stock in a research report on Wednesday, January 29th. Wells Fargo & Company reduced their target price on Bausch + Lomb from $26.00 to $24.00 and set an "overweight" rating on the stock in a research report on Thursday, January 16th. HC Wainwright reaffirmed a "buy" rating and issued a $23.00 price objective on shares of Bausch + Lomb in a research note on Tuesday. Finally, Morgan Stanley cut 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $19.83.

Bausch + Lomb Stock Performance

Bausch + Lomb stock traded down $0.15 during midday trading on Thursday, hitting $15.75. 589,710 shares of the company were exchanged, compared to its average volume of 684,586. The firm has a market capitalization of $5.55 billion, a PE ratio of -17.30, a price-to-earnings-growth ratio of 2.17 and a beta of 0.46. Bausch + Lomb has a fifty-two week low of $13.16 and a fifty-two week high of $21.69. The business has a fifty day simple moving average of $17.36 and a two-hundred day simple moving average of $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 issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. Bausch + Lomb had a positive return on equity of 3.34% and a negative net margin of 6.62%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the company earned $0.24 earnings per share. Bausch + Lomb's quarterly revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts forecast that Bausch + Lomb will post 0.79 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. lifted its holdings in shares of Bausch + Lomb by 68.3% in 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 acquired a new position in Bausch + Lomb during the 4th quarter worth approximately $72,000. Commonwealth Equity Services LLC acquired a new position in Bausch + Lomb during the 4th quarter worth approximately $181,000. Alpine Global Management LLC purchased a new position in Bausch + Lomb in the 4th quarter valued at approximately $181,000. Finally, Covestor Ltd purchased a new position in Bausch + Lomb in the 4th quarter valued at approximately $188,000. 11.07% of the stock is owned by institutional investors and hedge funds.

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.