Bausch + Lomb (NYSE:BLCO) Sets New 52-Week Low Following Analyst Downgrade

Bausch + Lomb Co. (NYSE:BLCO) shares reached a new 52-week low during 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.

BLCO has been the topic of several other research reports. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $15.00 target price (down previously from $24.00) on shares of Bausch + Lomb in a report on Friday, March 28th. Bank of America cut their target price on Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating for the company in a research note on Thursday, February 20th. Citigroup lowered shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $24.00 to $22.00 in a research report on Wednesday, December 11th. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a report on Thursday, February 20th. Finally, HC Wainwright reiterated a “buy” rating and set a $23.00 target price on shares of Bausch + Lomb in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.91.

Institutional Investors Weigh In On Bausch + Lomb

Several institutional investors and hedge funds have recently modified their holdings of BLCO. Blue Trust Inc. grew its holdings in Bausch + Lomb by 68.3% during the 4th quarter. Blue Trust Inc. now owns 2,474 shares of the company’s stock valued at $48,000 after purchasing an additional 1,004 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Bausch + Lomb during the fourth quarter valued at about $72,000. Commonwealth Equity Services LLC purchased a new stake in shares of Bausch + Lomb during the fourth quarter worth about $181,000. Alpine Global Management LLC acquired a new position in shares of Bausch + Lomb in the fourth quarter worth about $181,000. Finally, Covestor Ltd acquired a new position in shares of Bausch + Lomb in the fourth quarter worth about $188,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Bausch + Lomb Price Performance

The business has a fifty day moving average of $16.06 and a 200 day moving average of $18.06. 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 stock has a market cap of $4.57 billion, a PE ratio of -14.25, a P/E/G ratio of 0.85 and a beta of 0.49.

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

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.