Bausch + Lomb (NYSE:BLCO) Shares Gap Down - Here's Why

Bausch + Lomb Co. (NYSE:BLCO - Get Free Report) 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 trading hands.

Analyst Ratings Changes

BLCO has been the topic of a number of research reports. Wells Fargo & Company reiterated an "equal weight" rating and set a $15.00 target price (down from $24.00) on shares of Bausch + Lomb in a report on Friday. Royal Bank of Canada decreased their target price on Bausch + Lomb from $22.00 to $18.00 and set an "outperform" rating for the company in a report on Thursday, February 20th. HC Wainwright reissued a "buy" rating and set a $23.00 target price on shares of Bausch + Lomb in a research note on Tuesday, February 18th. Bank of America reduced their price target 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. Finally, Citigroup downgraded Bausch + Lomb from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $24.00 to $22.00 in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $19.18.

Bausch + Lomb Price Performance

The stock's 50-day moving average is $16.23 and its 200 day moving average is $18.11. 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 stock has a market capitalization of $4.93 billion, a PE ratio of -15.38, a P/E/G ratio of 0.85 and a beta of 0.49.

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Bausch + Lomb (NYSE:BLCO - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.02. The business had revenue of $1.28 billion for 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 revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. As a group, equities analysts expect that Bausch + Lomb Co. will post 0.74 earnings per share for the current year.

Hedge Funds Weigh In On Bausch + Lomb

A number of institutional investors have recently modified their holdings of the business. Alberta Investment Management Corp increased its stake in Bausch + Lomb by 36.0% in the fourth quarter. Alberta Investment Management Corp now owns 3,008,193 shares of the company's stock valued at $54,328,000 after purchasing an additional 796,400 shares during the period. Price T Rowe Associates Inc. MD purchased a new stake in Bausch + Lomb during the 4th quarter valued at approximately $14,122,000. King Street Capital Management L.P. acquired a new stake in Bausch + Lomb during the 3rd quarter worth approximately $14,122,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Bausch + Lomb by 51.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,218,431 shares of the company's stock valued at $21,996,000 after purchasing an additional 414,138 shares during the last quarter. Finally, Barclays PLC acquired a new position in shares of Bausch + Lomb in the third quarter valued at approximately $5,797,000. 11.07% of the stock is owned by institutional investors and hedge funds.

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.