Bausch + Lomb (NYSE:BLCO) Price Target Cut to $22.00 by Analysts at Royal Bank of Canada

Bausch + Lomb (NYSE:BLCO - Get Free Report) had its target price decreased by research analysts at Royal Bank of Canada from $23.00 to $22.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank of Canada's target price would indicate a potential upside of 24.78% from the stock's previous close.

Several other research firms have also recently issued reports on BLCO. Morgan Stanley cut shares of Bausch + Lomb from an "overweight" rating to an "equal weight" rating and set a $19.00 price objective on the stock. in a research report on Monday, December 2nd. Bank of America reiterated an "underperform" rating and issued a $18.00 price target on shares of Bausch + Lomb in a report on Thursday, December 12th. Citigroup lowered shares of Bausch + Lomb from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $24.00 to $22.00 in a research report on Wednesday, December 11th. Needham & Company LLC reiterated a "hold" rating on shares of Bausch + Lomb in a report on Thursday, October 31st. Finally, Stifel Nicolaus decreased their price target on shares of Bausch + Lomb from $19.00 to $18.00 and set a "hold" rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $20.25.

Bausch + Lomb Stock Down 1.4 %

NYSE:BLCO traded down $0.25 during trading hours on Wednesday, reaching $17.63. 358,261 shares of the company traded hands, compared to its average volume of 572,351. The company has a current ratio of 1.57, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $6.21 billion, a P/E ratio of -16.79, a P/E/G ratio of 2.17 and a beta of 0.47. Bausch + Lomb has a 1 year low of $13.16 and a 1 year high of $21.69. The business's 50-day moving average price is $18.38 and its two-hundred day moving average price is $18.13.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the company posted $0.22 earnings per share. Bausch + Lomb's revenue was up 18.8% compared to the same quarter last year. Analysts predict that Bausch + Lomb will post 0.6 earnings per share for the current year.

Hedge Funds Weigh In On Bausch + Lomb

Several institutional investors have recently bought and sold shares of the company. River Road Asset Management LLC grew its stake in Bausch + Lomb by 4.4% in the 3rd quarter. River Road Asset Management LLC now owns 2,020,414 shares of the company's stock valued at $38,974,000 after acquiring an additional 85,987 shares during the last quarter. King Street Capital Management L.P. purchased a new position in shares of Bausch + Lomb in the 3rd quarter worth $14,122,000. Barclays PLC acquired a new position in shares of Bausch + Lomb in the 3rd quarter valued at about $5,797,000. Point72 DIFC Ltd acquired a new position in Bausch + Lomb during the third quarter valued at approximately $4,331,000. Finally, Marshall Wace LLP purchased a new stake in Bausch + Lomb during the 2nd quarter worth $1,911,000. 11.07% of the stock is owned by institutional investors and hedge funds.

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.