Evercore ISI Has Lowered Expectations for Bausch + Lomb (NYSE:BLCO) Stock Price

Bausch + Lomb (NYSE:BLCO) had its price target lowered by Evercore ISI from $19.00 to $15.50 in a research note published on Thursday,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

BLCO has been the subject of a number of other research reports. Stifel Nicolaus lowered their price objective on shares of Bausch + Lomb from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, April 3rd. Bank of America lowered their target price on Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating for the company in a report on Thursday, February 20th. Wells Fargo & Company reissued an “equal weight” rating and issued a $15.00 price target (down previously from $24.00) on shares of Bausch + Lomb in a report on Friday, March 28th. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, April 24th. Finally, Royal Bank of Canada cut their target price on Bausch + Lomb from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Friday, April 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Bausch + Lomb has an average rating of “Hold” and an average target price of $16.14.

Bausch + Lomb Price Performance

BLCO opened at $11.47 on Thursday. Bausch + Lomb has a twelve month low of $10.45 and a twelve month high of $21.69. The company has a current ratio of 1.60, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of -12.60, a PEG ratio of 0.85 and a beta of 0.54. The company has a fifty day simple moving average of $13.91 and a 200 day simple moving average of $16.89.

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

Institutional Investors Weigh In On Bausch + Lomb

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in Bausch + Lomb by 68.3% in the fourth quarter. Blue Trust Inc. now owns 2,474 shares of the company’s stock worth $48,000 after purchasing an additional 1,004 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Bausch + Lomb during the 4th quarter worth about $72,000. Commonwealth Equity Services LLC bought a new stake in Bausch + Lomb during the 4th quarter worth about $181,000. Alpine Global Management LLC acquired a new stake in Bausch + Lomb in the 4th quarter valued at about $181,000. Finally, Covestor Ltd bought a new position in shares of Bausch + Lomb in the fourth quarter worth about $188,000. 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.