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

Bausch + Lomb (NYSE:BLCO) had its price objective decreased by Wells Fargo & Company from $26.00 to $24.00 in a research report released on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other research firms have also commented on BLCO. Royal Bank of Canada raised their price objective on shares of Bausch + Lomb from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Bank of America reiterated an “underperform” rating and set a $18.00 price target on shares of Bausch + Lomb in a report on Thursday, December 12th. Citigroup downgraded Bausch + Lomb from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $24.00 to $22.00 in a research note on Wednesday, December 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, October 31st. Finally, Stifel Nicolaus increased their price target on shares of Bausch + Lomb from $16.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Bausch + Lomb has an average rating of “Hold” and an average price target of $20.42.

Bausch + Lomb Stock Down 0.4 %

Shares of Bausch + Lomb stock opened at $17.36 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.57 and a debt-to-equity ratio of 0.69. Bausch + Lomb has a 12-month low of $13.16 and a 12-month high of $21.69. The firm has a market capitalization of $6.12 billion, a PE ratio of -16.54, a price-to-earnings-growth ratio of 1.23 and a beta of 0.47. The stock’s fifty day moving average is $18.77 and its 200-day moving average is $18.02.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (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 firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company earned $0.22 EPS. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. Equities analysts anticipate that Bausch + Lomb will post 0.6 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. River Road Asset Management LLC boosted its position in Bausch + Lomb by 4.4% during the third quarter. River Road Asset Management LLC now owns 2,020,414 shares of the company’s stock worth $38,974,000 after purchasing an additional 85,987 shares during the period. Whitebox Advisors LLC increased its position in shares of Bausch + Lomb by 28.2% during the second quarter. Whitebox Advisors LLC now owns 1,545,946 shares of the company’s stock valued at $22,447,000 after purchasing an additional 339,643 shares during the period. King Street Capital Management L.P. bought a new stake in Bausch + Lomb in the 3rd quarter valued at $14,122,000. Clearline Capital LP raised its position in Bausch + Lomb by 136.8% in the second quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock worth $10,339,000 after purchasing an additional 411,404 shares in the last quarter. Finally, Point72 Europe London LLP raised its holdings in shares of Bausch + Lomb by 28.9% in the 2nd quarter. Point72 Europe London LLP now owns 653,492 shares of the company’s stock worth $9,489,000 after buying an additional 146,583 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

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.