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

Bausch + Lomb (NYSE:BLCO) had its price objective cut by Royal Bank of Canada from $20.00 to $18.00 in a report published on Monday, Marketbeat reports. They currently have an outperform rating on the stock.

Several other research analysts have also weighed in on BLCO. Evercore ISI upped their price objective on shares of Bausch + Lomb from $16.50 to $17.00 and gave the company an in-line rating in a research note on Thursday, April 4th. Evercore dropped their price objective on shares of Bausch + Lomb from $17.00 to $16.50 and set an in-line rating on the stock in a research note on Thursday, February 22nd. Barclays upped their price objective on shares of Bausch + Lomb from $17.00 to $18.00 and gave the company an equal weight rating in a research note on Monday, February 26th. Finally, Wells Fargo & Company upped their price objective on shares of Bausch + Lomb from $21.00 to $23.00 and gave the company an overweight rating in a research note on Thursday, February 22nd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $19.50.

Bausch + Lomb Stock Up 0.3 %

BLCO stock opened at $14.90 on Monday. Bausch + Lomb has a 52-week low of $13.62 and a 52-week high of $21.95. The company’s 50 day simple moving average is $15.93 and its 200-day simple moving average is $15.72. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.74 and a quick ratio of 1.09. The firm has a market capitalization of $5.24 billion, a P/E ratio of -20.13, a P/E/G ratio of 1.41 and a beta of 0.36.

Bausch + Lomb (NYSE:BLCO) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.07. Bausch + Lomb had a negative net margin of 6.27% and a positive return on equity of 3.70%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the business earned $0.23 earnings per share. The firm’s revenue was up 17.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Bausch + Lomb will post 0.65 EPS for the current year.

Institutional Trading of Bausch + Lomb

Several large investors have recently added to or reduced their stakes in BLCO. Black Swift Group LLC bought a new stake in Bausch + Lomb in the third quarter worth approximately $170,000. Jump Financial LLC bought a new stake in shares of Bausch + Lomb during the 3rd quarter worth $255,000. Renaissance Capital LLC boosted its holdings in shares of Bausch + Lomb by 27.3% during the 4th quarter. Renaissance Capital LLC now owns 22,407 shares of the company’s stock worth $382,000 after buying an additional 4,801 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Bausch + Lomb during the 3rd quarter worth $466,000. Finally, Tectonic Advisors LLC boosted its holdings in shares of Bausch + Lomb by 4.7% during the 3rd quarter. Tectonic Advisors LLC now owns 42,323 shares of the company’s stock worth $717,000 after buying an additional 1,907 shares during the period. 11.07% of the stock is owned by 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.