Bausch + Lomb (NYSE:BLCO) Sets New 1-Year Low on Analyst Downgrade

Bausch + Lomb Co. (NYSE:BLCO - Get Free Report) hit a new 52-week low 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.

Several other brokerages have also issued reports on BLCO. Citigroup lowered Bausch + Lomb from a "buy" rating to a "neutral" rating and decreased their price target for the company from $24.00 to $22.00 in a research note on Wednesday, December 11th. Wells Fargo & Company reissued an "equal weight" rating and set a $15.00 target price (down previously from $24.00) on shares of Bausch + Lomb in a research note on Friday, March 28th. Needham & Company LLC reissued a "hold" rating on shares of Bausch + Lomb in a research note on Thursday, February 20th. Bank of America decreased 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 note on Thursday, February 20th. Finally, HC Wainwright reissued a "buy" rating and set a $23.00 price objective on shares of Bausch + Lomb in a 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's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $18.82.

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Institutional Investors Weigh In On Bausch + Lomb

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Polar Asset Management Partners Inc. lifted its position in shares of Bausch + Lomb by 120.4% in the 4th quarter. Polar Asset Management Partners Inc. now owns 33,062 shares of the company's stock worth $597,000 after purchasing an additional 18,062 shares during the period. Alpine Global Management LLC acquired a new position in Bausch + Lomb in the fourth quarter valued at $181,000. Tang Capital Management LLC boosted its position in Bausch + Lomb by 28.6% during the fourth quarter. Tang Capital Management LLC now owns 450,000 shares of the company's stock valued at $8,127,000 after acquiring an additional 100,000 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Bausch + Lomb by 34.5% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 52,460 shares of the company's stock worth $947,000 after acquiring an additional 13,460 shares during the period. Finally, Millennium Management LLC bought a new position in shares of Bausch + Lomb in the 4th quarter worth about $735,000. Institutional investors and hedge funds own 11.07% of the company's stock.

Bausch + Lomb Price Performance

The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.60. The business has a 50 day moving average price of $15.50 and a 200-day moving average price of $17.80. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of -12.01, a P/E/G ratio of 0.85 and a beta of 0.54.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.26 billion. Bausch + Lomb had a positive return on equity of 3.35% and a negative net margin of 6.62%. The company's revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 earnings per share. 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.