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

Bausch + Lomb Co. (NYSE:BLCO) shares reached a new 52-week low during mid-day trading on Thursday after Royal Bank of Canada lowered their price target on the stock from $18.00 to $17.00. Royal Bank of Canada currently has an outperform rating on the stock. Bausch + Lomb traded as low as $12.91 and last traded at $12.96, with a volume of 1111226 shares trading hands. The stock had previously closed at $14.35.

Several other equities analysts also recently commented on the stock. Wells Fargo & Company reiterated an “equal weight” rating and issued a $15.00 price objective (down from $24.00) on shares of Bausch + Lomb in a report on Friday, March 28th. Citigroup cut shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and lowered their price target for the company from $24.00 to $22.00 in a report on Wednesday, December 11th. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a report on Thursday, February 20th. Stifel Nicolaus decreased their target price on Bausch + Lomb from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, HC Wainwright reiterated a “buy” rating and set a $23.00 price objective on shares of Bausch + Lomb in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $18.82.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BLCO. Blue Trust Inc. increased its stake in shares of Bausch + Lomb by 68.3% in 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 during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Bausch + Lomb during the 4th quarter valued at approximately $72,000. Commonwealth Equity Services LLC acquired a new position in Bausch + Lomb during the 4th quarter worth approximately $181,000. Alpine Global Management LLC bought a new position in Bausch + Lomb in the 4th quarter valued at approximately $181,000. Finally, Covestor Ltd acquired a new position in shares of Bausch + Lomb during the fourth quarter worth $188,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Bausch + Lomb Stock Down 7.2 %

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 $4.25 billion, a P/E ratio of -13.24, a PEG ratio of 0.85 and a beta of 0.49. The stock has a 50 day moving average price of $15.88 and a 200 day moving average price of $17.99.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the firm posted $0.24 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, 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.