Bausch + Lomb (NYSE:BLCO) Price Target Lowered to $18.00 at Stifel Nicolaus

Bausch + Lomb (NYSE:BLCO) had its price objective reduced by Stifel Nicolaus from $19.00 to $18.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

Several other analysts have also recently commented on the company. HC Wainwright restated a “buy” rating and issued a $23.00 price target on shares of Bausch + Lomb in a report on Thursday, December 12th. Citigroup downgraded shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and lowered their target price for the company from $24.00 to $22.00 in a report on Wednesday, December 11th. Royal Bank of Canada increased their price target 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. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, October 31st. Finally, Bank of America reaffirmed an “underperform” rating and issued a $18.00 target price on shares of Bausch + Lomb in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Bausch + Lomb has a consensus rating of “Hold” and an average price target of $20.25.

Bausch + Lomb Stock Performance

Shares of BLCO opened at $17.34 on Wednesday. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of -16.52, a PEG ratio of 2.37 and a beta of 0.47. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.95 and a current ratio of 1.57. Bausch + Lomb has a 1 year low of $13.16 and a 1 year high of $21.69. The company’s 50 day simple moving average is $18.29 and its 200 day simple moving average is $18.14.

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. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Bausch + Lomb had a positive return on equity of 3.17% and a negative net margin of 7.86%. The business’s revenue was up 18.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 earnings per share. On average, sell-side analysts predict that Bausch + Lomb will post 0.6 EPS for the current year.

Institutional Investors Weigh In On Bausch + Lomb

A number of large investors have recently modified their holdings of the stock. Blue Trust Inc. boosted its holdings in Bausch + Lomb by 68.3% in the 4th quarter. Blue Trust Inc. now owns 2,474 shares of the company’s stock worth $48,000 after acquiring an additional 1,004 shares during the period. Renaissance Capital LLC boosted its stake in shares of Bausch + Lomb by 116.2% in the fourth quarter. Renaissance Capital LLC now owns 94,182 shares of the company’s stock valued at $1,701,000 after purchasing an additional 50,622 shares during the period. Ellsworth Advisors LLC acquired a new stake in Bausch + Lomb during the 4th quarter valued at $665,000. FNY Investment Advisers LLC purchased a new stake in Bausch + Lomb during the 4th quarter worth $72,000. Finally, King Street Capital Management L.P. acquired a new position in Bausch + Lomb in the 3rd quarter worth $14,122,000. 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.