Bausch + Lomb (NYSE:BLCO) Given New $24.00 Price Target at Wells Fargo & Company

Bausch + Lomb (NYSE:BLCO) had its price target reduced by analysts at Wells Fargo & Company from $26.00 to $24.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 39.13% from the stock’s previous close.

A number of other equities analysts also recently issued reports on BLCO. Stifel Nicolaus increased their price objective on shares of Bausch + Lomb from $16.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Citigroup downgraded shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $24.00 to $22.00 in a research note on Wednesday, December 11th. Evercore ISI upgraded shares of Bausch + Lomb from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $19.00 to $25.00 in a research note on Tuesday, October 15th. Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, October 31st. Finally, Morgan Stanley downgraded shares of Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price objective on the stock. in a research note on Monday, December 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.42.

Bausch + Lomb Trading Down 0.1 %

Shares of NYSE:BLCO traded down $0.02 during trading on Thursday, reaching $17.25. 14,836 shares of the company were exchanged, compared to its average volume of 368,473. The firm has a market capitalization of $6.08 billion, a PE ratio of -16.43, a P/E/G ratio of 1.23 and a beta of 0.47. The business’s fifty day simple moving average is $18.93 and its 200-day simple moving average is $17.99. Bausch + Lomb has a 12-month low of $13.16 and a 12-month high of $21.69. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.57 and a quick ratio of 0.95.

Bausch + Lomb (NYSE:BLCO) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.17%. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period last year, the company posted $0.22 earnings per share. On average, research analysts anticipate that Bausch + Lomb will post 0.6 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLCO. Dimensional Fund Advisors LP increased its holdings in Bausch + Lomb by 53.9% in the second quarter. Dimensional Fund Advisors LP now owns 67,690 shares of the company’s stock valued at $984,000 after buying an additional 23,714 shares in the last quarter. Gabelli Funds LLC grew its position in shares of Bausch + Lomb by 25.0% in the second quarter. Gabelli Funds LLC now owns 390,000 shares of the company’s stock valued at $5,663,000 after purchasing an additional 78,000 shares during the period. Marshall Wace LLP acquired a new stake in shares of Bausch + Lomb in the second quarter valued at about $1,911,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Bausch + Lomb in the second quarter valued at about $580,000. Finally, Whitebox Advisors LLC grew its position in shares of Bausch + Lomb by 28.2% in the second quarter. Whitebox Advisors LLC now owns 1,545,946 shares of the company’s stock valued at $22,447,000 after purchasing an additional 339,643 shares during the period. Hedge funds and other institutional investors 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.