Bausch + Lomb (NYSE:BLCO) Price Target Cut to $16.00 by Analysts at Barclays

Bausch + Lomb (NYSE:BLCO) had its price objective trimmed by Barclays from $19.00 to $16.00 in a report published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities research analysts also recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Bausch + Lomb from $15.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Bank of America reduced their target price on shares of Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating for the company in a report on Thursday, February 20th. Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a research report on Thursday, April 24th. Royal Bank of Canada decreased their target price on Bausch + Lomb from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Friday, April 4th. Finally, Stifel Nicolaus reduced their target price on Bausch + Lomb from $17.00 to $15.00 and set a “hold” rating for the company in a report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Bausch + Lomb presently has a consensus rating of “Hold” and an average target price of $15.54.

Bausch + Lomb Price Performance

Shares of NYSE:BLCO opened at $11.96 on Monday. Bausch + Lomb has a 52 week low of $10.45 and a 52 week high of $21.69. The firm has a market capitalization of $4.23 billion, a P/E ratio of -13.14, a PEG ratio of 0.85 and a beta of 0.56. The firm’s 50 day moving average is $11.87 and its two-hundred day moving average is $15.31. The company has a current ratio of 1.60, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72.

Bausch + Lomb (NYSE:BLCO) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.10). The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. Bausch + Lomb had a positive return on equity of 3.35% and a negative net margin of 6.62%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 EPS. Analysts anticipate that Bausch + Lomb will post 0.74 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Brent L. Saunders acquired 22,000 shares of Bausch + Lomb stock in a transaction dated Thursday, May 22nd. The stock was acquired at an average cost of $11.28 per share, for a total transaction of $248,160.00. Following the completion of the purchase, the chief executive officer now owns 719,156 shares of the company’s stock, valued at $8,112,079.68. This represents a 3.16% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BLCO. Blue Trust Inc. increased its position in shares of Bausch + Lomb by 68.3% during the fourth quarter. Blue Trust Inc. now owns 2,474 shares of the company’s stock valued at $48,000 after purchasing an additional 1,004 shares during the period. Trexquant Investment LP lifted its holdings in shares of Bausch + Lomb by 5.8% during the 1st quarter. Trexquant Investment LP now owns 20,255 shares of the company’s stock worth $294,000 after acquiring an additional 1,108 shares during the period. Woodline Partners LP increased its stake in Bausch + Lomb by 0.5% in the first quarter. Woodline Partners LP now owns 312,823 shares of the company’s stock valued at $4,536,000 after acquiring an additional 1,436 shares during the period. Gamco Investors INC. ET AL grew its stake in shares of Bausch + Lomb by 4.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 73,100 shares of the company’s stock valued at $1,060,000 after purchasing an additional 3,300 shares during the period. Finally, National Bank of Canada FI boosted its stake in Bausch + Lomb by 101.7% in the 1st quarter. National Bank of Canada FI now owns 6,719 shares of the company’s stock valued at $97,000 after buying an additional 3,387 shares in 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.