Bausch + Lomb (NYSE:BLCO) Reaches New 12-Month Low Following Analyst Downgrade

Bausch + Lomb Co. (NYSE:BLCO)’s stock price 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 changing hands. The stock had previously closed at $14.35.

A number of other equities analysts have also commented on BLCO. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, February 20th. Stifel Nicolaus reduced their price target on shares of Bausch + Lomb from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday. Wells Fargo & Company restated an “equal weight” rating and issued a $15.00 price objective (down previously from $24.00) on shares of Bausch + Lomb in a research report on Friday, March 28th. Bank of America reduced their target price on shares of Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating on the stock in a research report on Thursday, February 20th. Finally, HC Wainwright reissued a “buy” rating and issued a $23.00 price target on shares of Bausch + Lomb in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.82.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in Bausch + Lomb by 68.3% in the fourth quarter. Blue Trust Inc. now owns 2,474 shares of the company’s stock worth $48,000 after purchasing an additional 1,004 shares during the period. State Street Corp lifted its stake in Bausch + Lomb by 5.6% in the third quarter. State Street Corp now owns 28,450 shares of the company’s stock valued at $549,000 after buying an additional 1,510 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of Bausch + Lomb by 14.7% in the third quarter. HighTower Advisors LLC now owns 24,661 shares of the company’s stock valued at $476,000 after buying an additional 3,164 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Bausch + Lomb during the fourth quarter worth $72,000. Finally, XTX Topco Ltd raised its holdings in shares of Bausch + Lomb by 25.4% during the fourth quarter. XTX Topco Ltd now owns 20,077 shares of the company’s stock worth $363,000 after acquiring an additional 4,065 shares during the period. Institutional investors own 11.07% of the company’s stock.

Bausch + Lomb Stock Down 7.2 %

The firm’s 50-day moving average is $15.88 and its 200 day moving average is $17.99. The firm 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 company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.60.

Bausch + Lomb (NYSE:BLCO) last issued 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. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Bausch + Lomb had a positive return on equity of 3.35% and a negative net margin of 6.62%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 earnings per share. As a group, equities research analysts predict that Bausch + Lomb Co. will post 0.74 EPS for the current fiscal 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.