Bausch + Lomb (NYSE:BLCO) Sets New 12-Month Low After Analyst Downgrade

Shares of Bausch + Lomb Co. (NYSE:BLCO) hit a new 52-week low during mid-day trading on Thursday after Stifel Nicolaus lowered their price target on the stock from $17.00 to $15.00. Stifel Nicolaus currently has a hold rating on the stock. Bausch + Lomb traded as low as $12.91 and last traded at $12.96, with a volume of 1111226 shares changing hands. The stock had previously closed at $14.35.

Several other analysts also recently issued reports on BLCO. Royal Bank of Canada set a $18.00 price objective on Bausch + Lomb in a report on Thursday, March 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a report on Thursday, February 20th. Wells Fargo & Company restated an “equal weight” rating and set a $15.00 target price (down previously from $24.00) on shares of Bausch + Lomb in a research report on Friday, March 28th. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 price target on shares of Bausch + Lomb in a research report on Tuesday, February 18th. Finally, 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 research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.91.

Hedge Funds Weigh In On Bausch + Lomb

A number of large investors have recently made changes to their positions in the company. Blue Trust Inc. grew its stake in Bausch + Lomb by 68.3% during the 4th quarter. Blue Trust Inc. now owns 2,474 shares of the company’s stock worth $48,000 after buying an additional 1,004 shares during the last quarter. State Street Corp boosted its stake in shares of Bausch + Lomb by 5.6% during the 3rd quarter. State Street Corp now owns 28,450 shares of the company’s stock worth $549,000 after acquiring an additional 1,510 shares in the last quarter. HighTower Advisors LLC boosted its position in Bausch + Lomb by 14.7% during the third quarter. HighTower Advisors LLC now owns 24,661 shares of the company’s stock worth $476,000 after purchasing an additional 3,164 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Bausch + Lomb in the 4th quarter valued at $72,000. Finally, XTX Topco Ltd grew its position in shares of Bausch + Lomb by 25.4% in the fourth quarter. XTX Topco Ltd now owns 20,077 shares of the company’s stock valued at $363,000 after purchasing an additional 4,065 shares during the period. 11.07% of the stock is owned by hedge funds and other institutional investors.

Bausch + Lomb Trading Down 9.7 %

The company has a fifty day moving average of $16.06 and a 200-day moving average of $18.06. 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 company has a market capitalization of $4.57 billion, a price-to-earnings ratio of -14.25, a PEG ratio of 0.85 and a beta of 0.49.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. Bausch + Lomb had a positive return on equity of 3.35% and a negative net margin of 6.62%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the company posted $0.24 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities research analysts anticipate that Bausch + Lomb Co. will post 0.74 earnings per share for the current fiscal year.

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.