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

Bausch + Lomb (NYSE:BLCO) had its price target reduced by equities researchers at Royal Bank of Canada from $20.00 to $18.00 in a note issued to investors on Monday, MarketBeat.com reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 21.21% from the company’s current price.

Several other brokerages also recently commented on BLCO. Barclays increased their target price on shares of Bausch + Lomb from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Evercore reduced their price target on shares of Bausch + Lomb from $17.00 to $16.50 and set an “in-line” rating for the company in a research report on Thursday, February 22nd. Wells Fargo & Company increased their price target on shares of Bausch + Lomb from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Finally, Evercore ISI increased their price target on shares of Bausch + Lomb from $16.50 to $17.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

Bausch + Lomb Stock Performance

BLCO opened at $14.85 on Monday. The company has a current ratio of 1.74, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65. The company’s fifty day moving average price is $15.92 and its two-hundred day moving average price is $15.73. Bausch + Lomb has a 1-year low of $13.62 and a 1-year high of $21.95. The company has a market cap of $5.22 billion, a price-to-earnings ratio of -20.07, a PEG ratio of 1.41 and a beta of 0.36.

Bausch + Lomb (NYSE:BLCO) last announced its earnings results on Wednesday, February 21st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.17 by $0.07. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.11 billion. Bausch + Lomb had a negative net margin of 6.27% and a positive return on equity of 3.70%. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 earnings per share. On average, analysts expect that Bausch + Lomb will post 0.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Bausch + Lomb

A number of institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Capital LLC raised its stake in Bausch + Lomb by 3.0% in the first quarter. Renaissance Capital LLC now owns 23,076 shares of the company’s stock valued at $399,000 after purchasing an additional 669 shares in the last quarter. Tectonic Advisors LLC raised its stake in Bausch + Lomb by 4.7% in the third quarter. Tectonic Advisors LLC now owns 42,323 shares of the company’s stock valued at $717,000 after purchasing an additional 1,907 shares in the last quarter. Gabelli Funds LLC raised its stake in Bausch + Lomb by 2.3% in the third quarter. Gabelli Funds LLC now owns 263,744 shares of the company’s stock valued at $4,470,000 after purchasing an additional 6,017 shares in the last quarter. Black Swift Group LLC purchased a new stake in Bausch + Lomb in the third quarter valued at approximately $170,000. Finally, Brandes Investment Partners LP raised its stake in Bausch + Lomb by 11.0% in the fourth quarter. Brandes Investment Partners LP now owns 114,200 shares of the company’s stock valued at $1,948,000 after purchasing an additional 11,321 shares in the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

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.