Bausch + Lomb (NYSE:BLCO) Given New $17.00 Price Target at Royal Bank of Canada

Bausch + Lomb (NYSE:BLCO) had its price target decreased by Royal Bank of Canada from $18.00 to $17.00 in a research note published on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on BLCO. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 target price on shares of Bausch + Lomb in a report on Tuesday, February 18th. Bank of America cut their price objective on Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating for the company in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, February 20th. Stifel Nicolaus dropped their price target on Bausch + Lomb from $17.00 to $15.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $15.00 price objective (down from $24.00) on shares of Bausch + Lomb in a research report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.82.

Bausch + Lomb Stock Performance

Shares of NYSE BLCO opened at $12.05 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.60. The stock has a 50 day moving average price of $15.88 and a 200 day moving average price of $17.99. The stock has a market capitalization of $4.25 billion, a PE ratio of -13.24, a price-to-earnings-growth ratio of 0.85 and a beta of 0.49. Bausch + Lomb has a 52 week low of $11.94 and a 52 week high of $21.69.

Bausch + Lomb (NYSE:BLCO) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.26 billion. Bausch + Lomb had a positive return on equity of 3.35% and a negative net margin of 6.62%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 EPS. Analysts predict that Bausch + Lomb will post 0.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BLCO. Polar Asset Management Partners Inc. boosted its position in shares of Bausch + Lomb by 120.4% during the 4th quarter. Polar Asset Management Partners Inc. now owns 33,062 shares of the company’s stock worth $597,000 after acquiring an additional 18,062 shares in the last quarter. Alpine Global Management LLC bought a new position in shares of Bausch + Lomb in the 4th quarter valued at $181,000. Tang Capital Management LLC raised its holdings in shares of Bausch + Lomb by 28.6% during the 4th quarter. Tang Capital Management LLC now owns 450,000 shares of the company’s stock worth $8,127,000 after buying an additional 100,000 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Bausch + Lomb by 34.5% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 52,460 shares of the company’s stock worth $947,000 after buying an additional 13,460 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in Bausch + Lomb in the fourth quarter valued at about $735,000. Institutional investors own 11.07% of the company’s stock.

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.