Barclays Cuts Bausch + Lomb (NYSE:BLCO) Price Target to $16.00

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

Several other research analysts have also recently commented on the stock. Royal Bank of Canada reduced their target price on shares of Bausch + Lomb from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Friday, April 4th. Morgan Stanley dropped their price target on shares of Bausch + Lomb from $18.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research report on Thursday, April 24th. Bank of America dropped their price target on shares of Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating on the stock in a research report on Thursday, February 20th. Finally, Citigroup dropped their price target on shares of Bausch + Lomb from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.54.

Bausch + Lomb Trading Down 0.4%

BLCO opened at $12.53 on Monday. Bausch + Lomb has a fifty-two week low of $10.45 and a fifty-two week high of $21.69. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.60 and a quick ratio of 1.01. The company has a market cap of $4.43 billion, a price-to-earnings ratio of -13.76, a price-to-earnings-growth ratio of 0.85 and a beta of 0.56. The firm has a 50 day simple moving average of $11.87 and a 200 day simple moving average of $15.27.

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

Insider Buying and Selling

In other news, CEO Brent L. Saunders acquired 22,000 shares of Bausch + Lomb stock in a transaction on Thursday, May 22nd. The shares were purchased 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 directly owns 719,156 shares of the company’s stock, valued at approximately $8,112,079.68. This represents a 3.16% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Bausch + Lomb

A number of large investors have recently bought and sold shares of BLCO. Deutsche Bank AG acquired a new stake in shares of Bausch + Lomb in the 1st quarter valued at approximately $50,750,000. Alberta Investment Management Corp boosted its stake in shares of Bausch + Lomb by 36.0% in the 4th quarter. Alberta Investment Management Corp now owns 3,008,193 shares of the company’s stock valued at $54,328,000 after purchasing an additional 796,400 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Bausch + Lomb in the 4th quarter valued at approximately $14,122,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Bausch + Lomb by 51.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,218,431 shares of the company’s stock valued at $21,996,000 after purchasing an additional 414,138 shares in the last quarter. Finally, King Street Capital Management L.P. boosted its stake in shares of Bausch + Lomb by 55.2% in the 4th quarter. King Street Capital Management L.P. now owns 1,136,321 shares of the company’s stock valued at $20,522,000 after purchasing an additional 404,256 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.