Bausch + Lomb (NYSE:BLCO) Hits New 1-Year Low After Earnings Miss

Bausch + Lomb Co. (NYSE:BLCO) shares hit a new 52-week low during trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $13.35 and last traded at $13.36, with a volume of 55139 shares traded. The stock had previously closed at $13.74.

The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). Bausch + Lomb had a positive return on equity of 3.57% and a negative net margin of 7.81%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the business earned $0.10 earnings per share. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Bausch + Lomb from $17.00 to $18.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Wells Fargo & Company lifted their price objective on Bausch + Lomb from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Evercore dropped their target price on Bausch + Lomb from $17.00 to $15.00 and set an “in-line” rating for the company in a report on Thursday. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Bausch + Lomb in a research note on Thursday. Finally, Royal Bank of Canada lowered their price target on Bausch + Lomb from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.27.

Institutional Trading of Bausch + Lomb

A number of hedge funds and other institutional investors have recently made changes to their positions in BLCO. Black Swift Group LLC acquired a new position in Bausch + Lomb during the 3rd quarter worth about $170,000. Jump Financial LLC acquired a new stake in Bausch + Lomb in the 3rd quarter valued at about $255,000. Renaissance Capital LLC raised its stake in shares of Bausch + Lomb by 27.3% in the fourth quarter. Renaissance Capital LLC now owns 22,407 shares of the company’s stock worth $382,000 after acquiring an additional 4,801 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Bausch + Lomb during the third quarter worth approximately $466,000. Finally, Allianz Asset Management GmbH bought a new stake in shares of Bausch + Lomb during the fourth quarter valued at approximately $1,706,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Bausch + Lomb Trading Down 1.9 %

The company has a quick ratio of 1.09, a current ratio of 1.74 and a debt-to-equity ratio of 0.65. The business’s fifty day moving average is $15.84 and its two-hundred day moving average is $15.63. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of -14.17, a price-to-earnings-growth ratio of 1.33 and a beta of 0.47.

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.