Royal Bank of Canada Lowers Bausch + Lomb (NYSE:BLCO) Price Target to $22.00

Bausch + Lomb (NYSE:BLCOGet Free Report) had its price objective lowered by stock analysts at Royal Bank of Canada from $23.00 to $22.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 24.78% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Bank of America reiterated an “underperform” rating and issued a $18.00 target price on shares of Bausch + Lomb in a research report on Thursday, December 12th. Stifel Nicolaus cut their price objective on shares of Bausch + Lomb from $19.00 to $18.00 and set a “hold” rating for the company in a report on Wednesday. Citigroup cut Bausch + Lomb from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $24.00 to $22.00 in a report on Wednesday, December 11th. HC Wainwright reiterated a “buy” rating and set a $23.00 price objective on shares of Bausch + Lomb in a research report on Thursday, December 12th. Finally, Evercore ISI raised Bausch + Lomb from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $19.00 to $25.00 in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Bausch + Lomb currently has a consensus rating of “Hold” and a consensus price target of $20.25.

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Bausch + Lomb Trading Down 1.4 %

Shares of Bausch + Lomb stock opened at $17.63 on Wednesday. The company has a current ratio of 1.57, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69. Bausch + Lomb has a twelve month low of $13.16 and a twelve month high of $21.69. The firm has a market capitalization of $6.21 billion, a PE ratio of -16.79, a P/E/G ratio of 2.17 and a beta of 0.47. The firm’s 50-day moving average price is $18.33 and its 200 day moving average price is $18.13.

Bausch + Lomb (NYSE:BLCOGet Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.17 billion. During the same period in the previous year, the company posted $0.22 earnings per share. The business’s revenue was up 18.8% on a year-over-year basis. On average, sell-side analysts predict that Bausch + Lomb will post 0.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. grew its position in 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 acquiring an additional 1,004 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Bausch + Lomb in the fourth quarter valued at approximately $72,000. Squarepoint Ops LLC acquired a new position in shares of Bausch + Lomb in the second quarter valued at approximately $173,000. Gordian Capital Singapore Pte Ltd purchased a new stake in Bausch + Lomb during the 3rd quarter worth approximately $289,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in Bausch + Lomb during the 3rd quarter worth approximately $289,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

About Bausch + Lomb

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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.

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