Bausch + Lomb (NYSE:BLCO) Given New $18.00 Price Target at Royal Bank of Canada

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

BLCO has been the subject of several other reports. Wells Fargo & Company boosted their price objective on Bausch + Lomb from $21.00 to $23.00 and gave the stock an overweight rating in a research note on Thursday, February 22nd. Evercore cut their price objective on Bausch + Lomb from $17.00 to $16.50 and set an in-line rating for the company in a research note on Thursday, February 22nd. Evercore ISI boosted their price objective on Bausch + Lomb from $16.50 to $17.00 and gave the stock an in-line rating in a research note on Thursday, April 4th. Finally, Barclays boosted their price objective on Bausch + Lomb from $17.00 to $18.00 and gave the stock an equal weight rating in a research note on Monday, February 26th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $19.50.

Bausch + Lomb Price Performance

Shares of Bausch + Lomb stock opened at $14.76 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.74 and a debt-to-equity ratio of 0.65. Bausch + Lomb has a twelve month low of $13.62 and a twelve month high of $21.95. The business has a 50-day moving average price of $15.94 and a 200 day moving average price of $15.72. The firm has a market cap of $5.19 billion, a PE ratio of -19.95, a P/E/G ratio of 1.43 and a beta of 0.36.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BLCO. Black Swift Group LLC acquired a new position in Bausch + Lomb in the third quarter valued at approximately $170,000. Jump Financial LLC acquired a new position in Bausch + Lomb in the third quarter valued at approximately $255,000. Renaissance Capital LLC lifted its holdings in Bausch + Lomb by 27.3% in the fourth quarter. Renaissance Capital LLC now owns 22,407 shares of the company’s stock valued at $382,000 after acquiring an additional 4,801 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Bausch + Lomb in the third quarter valued at approximately $466,000. Finally, Tectonic Advisors LLC lifted its holdings in Bausch + Lomb by 4.7% in the third quarter. Tectonic Advisors LLC now owns 42,323 shares of the company’s stock valued at $717,000 after acquiring an additional 1,907 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.