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

Bausch + Lomb (NYSE:BLCO) had its price target lowered by Royal Bank of Canada from $20.00 to $18.00 in a research report sent to investors on Monday, Marketbeat.com reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other equities research analysts also recently weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Bausch + Lomb from $21.00 to $23.00 and gave the stock an overweight rating in a research report on Thursday, February 22nd. Evercore ISI boosted their target price 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. Barclays upped their price target on shares of Bausch + Lomb from $17.00 to $18.00 and gave the stock an equal weight rating in a research note on Monday, February 26th. Finally, Evercore reduced their price target on shares of 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. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bausch + Lomb currently has an average rating of Moderate Buy and an average target price of $19.50.

Bausch + Lomb Trading Down 0.9 %

Shares of Bausch + Lomb stock opened at $14.76 on Monday. The company has a current ratio of 1.74, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average of $15.94 and a two-hundred day moving average of $15.72. Bausch + Lomb has a 12-month low of $13.62 and a 12-month high of $21.95. The stock has a market cap of $5.19 billion, a PE ratio of -19.95, a price-to-earnings-growth 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 analysts’ consensus estimates of $0.17 by $0.07. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.11 billion. Bausch + Lomb had a negative net margin of 6.27% and a positive return on equity of 3.70%. Bausch + Lomb’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter last year, the business earned $0.23 EPS. On average, research analysts anticipate that Bausch + Lomb will post 0.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Bausch + Lomb

A number of large investors have recently made changes to their positions in the company. Black Swift Group LLC bought a new stake in Bausch + Lomb in the 3rd quarter valued at $170,000. Jump Financial LLC bought a new stake in Bausch + Lomb in the 3rd quarter valued at $255,000. Renaissance Capital LLC boosted its holdings in Bausch + Lomb by 27.3% in the 4th quarter. Renaissance Capital LLC now owns 22,407 shares of the company’s stock valued at $382,000 after purchasing an additional 4,801 shares during the period. Quadrature Capital Ltd bought a new stake in Bausch + Lomb in the 3rd quarter valued at $466,000. Finally, Tectonic Advisors LLC raised its stake in shares of Bausch + Lomb by 4.7% in the 3rd quarter. Tectonic Advisors LLC now owns 42,323 shares of the company’s stock valued at $717,000 after buying an additional 1,907 shares in the last quarter. Institutional investors and hedge funds 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.