Bausch + Lomb (NYSE:BLCO) Shares Gap Down – Here’s What Happened

Bausch + Lomb Co. (NYSE:BLCO)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $17.75, but opened at $16.54. Bausch + Lomb shares last traded at $16.40, with a volume of 697,249 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BLCO. Citigroup lowered shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $24.00 to $22.00 in a research report on Wednesday, December 11th. Evercore ISI raised Bausch + Lomb from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $19.00 to $25.00 in a research report on Tuesday, October 15th. Stifel Nicolaus dropped their price objective on Bausch + Lomb from $19.00 to $18.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. HC Wainwright reissued a “buy” rating and set a $23.00 target price on shares of Bausch + Lomb in a report on Thursday, December 12th. Finally, Bank of America reaffirmed an “underperform” rating and set a $18.00 price objective on shares of Bausch + Lomb in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.25.

Bausch + Lomb Trading Down 8.2 %

The company has a debt-to-equity ratio of 0.69, a current ratio of 1.57 and a quick ratio of 0.95. The stock has a market cap of $5.74 billion, a P/E ratio of -15.48, a PEG ratio of 2.30 and a beta of 0.46. The firm’s fifty day moving average price is $18.16 and its two-hundred day moving average price is $18.17.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BLCO. Barclays PLC bought a new position in Bausch + Lomb during the 3rd quarter valued at approximately $5,797,000. Quadrature Capital Ltd purchased a new position in Bausch + Lomb in the third quarter worth about $526,000. River Road Asset Management LLC lifted its stake in shares of Bausch + Lomb by 4.4% in the 3rd quarter. River Road Asset Management LLC now owns 2,020,414 shares of the company’s stock worth $38,974,000 after purchasing an additional 85,987 shares during the period. Janus Henderson Group PLC purchased a new position in shares of Bausch + Lomb in the third quarter worth approximately $957,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Bausch + Lomb during the second quarter valued at approximately $580,000. Institutional investors own 11.07% of the company’s stock.

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.