Bausch + Lomb (NYSE:BLCO) Shares Gap Down – Here’s Why

Bausch + Lomb Co. (NYSE:BLCO) shares gapped down prior to trading on Thursday . The stock had previously closed at $15.67, but opened at $15.18. Bausch + Lomb shares last traded at $14.97, with a volume of 520,241 shares traded.

Analysts Set New Price Targets

A number of analysts have commented on BLCO shares. Stifel Nicolaus decreased their price target on shares of Bausch + Lomb from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Wednesday, January 29th. Wells Fargo & Company restated 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. Royal Bank of Canada cut their price target on Bausch + Lomb from $22.00 to $18.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. HC Wainwright reissued a “buy” rating and issued a $23.00 price objective on shares of Bausch + Lomb in a research note on Tuesday, February 18th. Finally, Bank of America cut their target price on Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating on the stock in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.18.

Bausch + Lomb Stock Down 5.5 %

The stock’s 50-day moving average price is $16.23 and its two-hundred day moving average price is $18.07. 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 stock has a market capitalization of $5.00 billion, a P/E ratio of -15.58, a P/E/G ratio of 0.85 and a beta of 0.49.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BLCO. Blue Trust Inc. lifted its holdings in shares of 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 buying an additional 1,004 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Bausch + Lomb in the fourth quarter worth $72,000. Commonwealth Equity Services LLC purchased a new stake in shares of Bausch + Lomb in the fourth quarter worth $181,000. Alpine Global Management LLC bought a new stake in Bausch + Lomb during the fourth quarter valued at $181,000. Finally, Covestor Ltd purchased a new position in Bausch + Lomb during the fourth quarter worth about $188,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

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.