Bausch + Lomb (NYSE:BLCO) Hits New 52-Week Low - What's Next?

Bausch + Lomb Co. (NYSE:BLCO - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $10.88 and last traded at $10.93, with a volume of 784396 shares changing hands. The stock had previously closed at $11.87.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BLCO shares. Stifel Nicolaus reduced their target price on Bausch + Lomb from $17.00 to $15.00 and set a "hold" rating for the company in a report on Thursday, April 3rd. Bank of America cut their price objective 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. Wells Fargo & Company reiterated an "equal weight" rating and set a $15.00 price target (down previously from $24.00) on shares of Bausch + Lomb in a research note on Friday, March 28th. Needham & Company LLC reiterated a "hold" rating on shares of Bausch + Lomb in a research note on Thursday, February 20th. Finally, Royal Bank of Canada dropped their price target on Bausch + Lomb from $18.00 to $17.00 and set an "outperform" rating on the stock in a research report on Friday, April 4th. One investment 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 company presently has an average rating of "Hold" and an average price target of $18.82.

Bausch + Lomb Stock Up 6.1 %

The stock has a market capitalization of $4.28 billion, a P/E ratio of -13.30, a P/E/G ratio of 0.85 and a beta of 0.54. The firm's fifty day moving average is $15.05 and its 200-day moving average is $17.59. The company has a current ratio of 1.60, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72.

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Bausch + Lomb (NYSE:BLCO - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates 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 negative net margin of 6.62% and a positive return on equity of 3.35%. The company's revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 earnings per share. As a group, equities research analysts predict that Bausch + Lomb Co. will post 0.74 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BLCO. Alberta Investment Management Corp grew its position in shares of Bausch + Lomb by 36.0% during the 4th quarter. Alberta Investment Management Corp now owns 3,008,193 shares of the company's stock worth $54,328,000 after buying an additional 796,400 shares during the period. Whitebox Advisors LLC raised its position in Bausch + Lomb by 16.1% in the 4th quarter. Whitebox Advisors LLC now owns 1,443,101 shares of the company's stock valued at $26,062,000 after buying an additional 199,856 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Bausch + Lomb by 51.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,218,431 shares of the company's stock worth $21,996,000 after purchasing an additional 414,138 shares in the last quarter. King Street Capital Management L.P. lifted its position in Bausch + Lomb by 55.2% during the 4th quarter. King Street Capital Management L.P. now owns 1,136,321 shares of the company's stock worth $20,522,000 after buying an additional 404,256 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new stake in Bausch + Lomb during the fourth quarter worth about $14,122,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.