Bausch + Lomb (NYSE:BLCO) Shares Gap Down - What's Next?

Bausch + Lomb Co. (NYSE:BLCO - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $17.75, but opened at $16.54. Bausch + Lomb shares last traded at $16.40, with a volume of 697,249 shares trading hands.

Analysts Set New Price Targets

BLCO has been the subject of a number of research analyst reports. Royal Bank of Canada dropped their price target on Bausch + Lomb from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Wednesday, January 29th. Bank of America reissued an "underperform" rating and issued a $18.00 target price on shares of Bausch + Lomb in a research report on Thursday, December 12th. Needham & Company LLC restated a "hold" rating on shares of Bausch + Lomb in a report on Thursday, October 31st. Stifel Nicolaus lowered their price target on Bausch + Lomb from $19.00 to $18.00 and set a "hold" rating for the company in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company cut their target price on Bausch + Lomb from $26.00 to $24.00 and set an "overweight" rating on the stock in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Bausch + Lomb currently has a consensus rating of "Hold" and an average price target of $20.25.

Bausch + Lomb Stock Performance

The company has a current ratio of 1.57, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69. The company has a market cap of $5.73 billion, a P/E ratio of -15.47, a PEG ratio of 2.13 and a beta of 0.46. The business's 50 day simple moving average is $18.00 and its 200 day simple moving average is $18.16.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Blue Trust Inc. increased its stake in Bausch + Lomb by 68.3% in the 4th 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 purchased a new position in Bausch + Lomb in the 4th quarter worth approximately $72,000. Squarepoint Ops LLC bought a new position in Bausch + Lomb in the 2nd quarter worth approximately $173,000. Commonwealth Equity Services LLC purchased a new stake in Bausch + Lomb during the 4th quarter valued at approximately $181,000. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in shares of Bausch + Lomb during the third quarter valued at approximately $289,000. Hedge funds and other institutional investors own 11.07% of the company's stock.

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.