Bausch + Lomb (NYSE:BLCO) Price Target Cut to $15.00

Bausch + Lomb (NYSE:BLCO - Get Free Report) had its target price dropped by equities research analysts at Evercore from $17.00 to $15.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The firm currently has an "in-line" rating on the stock. Evercore's price objective indicates a potential upside of 8.23% from the stock's current price.

Several other research firms also recently weighed in on BLCO. Evercore ISI boosted their price target on Bausch + Lomb from $16.50 to $17.00 and gave the company an "in-line" rating in a research note on Thursday, April 4th. Royal Bank of Canada lowered their target price on Bausch + Lomb from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Monday, April 22nd. Wells Fargo & Company upped their target price on Bausch + Lomb from $21.00 to $23.00 and gave the stock an "overweight" rating in a research note on Thursday, February 22nd. Needham & Company LLC restated a "hold" rating on shares of Bausch + Lomb in a research note on Wednesday. Finally, Barclays upped their target price 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. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $19.27.

Bausch + Lomb Stock Up 0.9 %

Shares of Bausch + Lomb stock traded up $0.12 during trading on Thursday, reaching $13.86. The company's stock had a trading volume of 1,157,594 shares, compared to its average volume of 490,238. The company has a quick ratio of 1.09, a current ratio of 1.74 and a debt-to-equity ratio of 0.65. The company has a market cap of $4.87 billion, a price-to-earnings ratio of -18.73, a P/E/G ratio of 1.40 and a beta of 0.47. Bausch + Lomb has a 1-year low of $13.16 and a 1-year high of $21.95. The company has a 50-day simple moving average of $15.91 and a two-hundred day simple moving average of $15.64.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.02). The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. Bausch + Lomb had a positive return on equity of 3.70% and a negative net margin of 6.27%. The firm's revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. As a group, equities analysts forecast that Bausch + Lomb will post 0.65 earnings per share for the current year.

Hedge Funds Weigh In On Bausch + Lomb

A number of large investors have recently bought and sold shares of BLCO. Black Swift Group LLC acquired a new position in shares of Bausch + Lomb during the third quarter valued at approximately $170,000. Jump Financial LLC acquired a new position in shares of Bausch + Lomb during the third quarter valued at approximately $255,000. Renaissance Capital LLC raised its holdings in shares of Bausch + Lomb by 27.3% during 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 shares of Bausch + Lomb during the third quarter valued at approximately $466,000. Finally, Allianz Asset Management GmbH acquired a new position in shares of Bausch + Lomb during the fourth quarter valued at approximately $1,706,000. 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.