Wells Fargo & Company Lowers Bausch + Lomb (NYSE:BLCO) Price Target to $24.00

Bausch + Lomb (NYSE:BLCO) had its price objective reduced by equities researchers at Wells Fargo & Company from $26.00 to $24.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 38.22% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada raised their price target on Bausch + Lomb from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Morgan Stanley lowered shares of Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 target price on the stock. in a report on Monday, December 2nd. HC Wainwright reissued a “buy” rating and issued a $23.00 price objective on shares of Bausch + Lomb in a research report on Thursday, December 12th. Citigroup lowered shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $24.00 to $22.00 in a research report on Wednesday, December 11th. Finally, Stifel Nicolaus boosted their price target on Bausch + Lomb from $16.00 to $19.00 and gave the company a “hold” rating in a report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.42.

Bausch + Lomb Stock Down 0.4 %

Bausch + Lomb stock opened at $17.36 on Thursday. Bausch + Lomb has a fifty-two week low of $13.16 and a fifty-two week high of $21.69. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of -16.54, a price-to-earnings-growth ratio of 1.23 and a beta of 0.47. The stock’s fifty day moving average is $18.82 and its two-hundred day moving average is $17.98. 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 (NYSE:BLCO) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.17%. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period last year, the firm posted $0.22 EPS. Analysts predict that Bausch + Lomb will post 0.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Bausch + Lomb

Institutional investors have recently added to or reduced their stakes in the company. River Road Asset Management LLC lifted its stake in shares of Bausch + Lomb by 4.4% in the 3rd quarter. River Road Asset Management LLC now owns 2,020,414 shares of the company’s stock valued at $38,974,000 after purchasing an additional 85,987 shares in the last quarter. Whitebox Advisors LLC lifted its position in Bausch + Lomb by 28.2% during the second quarter. Whitebox Advisors LLC now owns 1,545,946 shares of the company’s stock valued at $22,447,000 after buying an additional 339,643 shares in the last quarter. King Street Capital Management L.P. purchased a new stake in Bausch + Lomb during the third quarter worth approximately $14,122,000. Clearline Capital LP increased its position in shares of Bausch + Lomb by 136.8% in the second quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock worth $10,339,000 after acquiring an additional 411,404 shares in the last quarter. Finally, Point72 Europe London LLP raised its stake in shares of Bausch + Lomb by 28.9% in the 2nd quarter. Point72 Europe London LLP now owns 653,492 shares of the company’s stock valued at $9,489,000 after acquiring an additional 146,583 shares during the period. Hedge funds and other institutional investors 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.