Bausch + Lomb (NYSE:BLCO) Hits New 12-Month Low After Earnings Miss

Bausch + Lomb Co. (NYSE:BLCO) shares reached a new 52-week low during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $13.35 and last traded at $13.36, with a volume of 55139 shares. The stock had previously closed at $13.74.

The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. Bausch + Lomb had a negative net margin of 7.81% and a positive return on equity of 3.57%. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 earnings per share.

Wall Street Analyst Weigh In

BLCO has been the topic of a number of research reports. Evercore ISI raised their target price on shares of Bausch + Lomb from $16.50 to $17.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Royal Bank of Canada cut their price objective on Bausch + Lomb from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Wells Fargo & Company upped their target price on Bausch + Lomb from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of Bausch + Lomb in a report on Thursday. Finally, Barclays upped their price target on Bausch + Lomb from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $19.27.

Institutional Trading of Bausch + Lomb

Hedge funds have recently made changes to their positions in the stock. Black Swift Group LLC bought a new position in Bausch + Lomb during the 3rd quarter valued at $170,000. Jump Financial LLC bought a new position in shares of Bausch + Lomb during the third quarter worth about $255,000. Renaissance Capital LLC grew its stake in Bausch + Lomb by 27.3% in the fourth quarter. Renaissance Capital LLC now owns 22,407 shares of the company’s stock worth $382,000 after purchasing an additional 4,801 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Bausch + Lomb in the third quarter valued at about $466,000. Finally, Allianz Asset Management GmbH acquired a new stake in Bausch + Lomb during the fourth quarter valued at approximately $1,706,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Bausch + Lomb Trading Down 1.9 %

The company has a market cap of $4.78 billion, a P/E ratio of -14.17, a P/E/G ratio of 1.33 and a beta of 0.47. The business has a fifty day simple moving average of $15.84 and a 200 day simple moving average of $15.63. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 1.74.

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.