Bausch + Lomb (NYSE:BLCO) Hits New 12-Month Low – Time to Sell?

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BLCO shares. Stifel Nicolaus dropped their price objective on Bausch + Lomb from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday, April 3rd. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $15.00 target price (down previously from $24.00) on shares of Bausch + Lomb in a report on Friday, March 28th. Bank of America decreased their target price on Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating for the company in a research report on Thursday, February 20th. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a research report 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 research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.82.

Bausch + Lomb Stock Performance

The company has a quick ratio of 1.01, a current ratio of 1.60 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of -12.36, a PEG ratio of 0.85 and a beta of 0.54. The firm has a fifty day moving average of $15.18 and a 200-day moving average of $17.66.

Bausch + Lomb (NYSE:BLCO) last posted its earnings results on Wednesday, February 19th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Bausch + Lomb had a positive return on equity of 3.35% and a negative net margin of 6.62%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the company earned $0.24 EPS. Bausch + Lomb’s revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Bausch + Lomb Co. will post 0.74 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLCO. Polar Asset Management Partners Inc. lifted its holdings in shares of Bausch + Lomb by 120.4% during the 4th quarter. Polar Asset Management Partners Inc. now owns 33,062 shares of the company’s stock worth $597,000 after acquiring an additional 18,062 shares during the period. Alpine Global Management LLC purchased a new position in shares of Bausch + Lomb in the 4th quarter valued at $181,000. Tang Capital Management LLC boosted its position in Bausch + Lomb by 28.6% during the 4th quarter. Tang Capital Management LLC now owns 450,000 shares of the company’s stock worth $8,127,000 after purchasing an additional 100,000 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Bausch + Lomb by 34.5% during the fourth 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 purchasing an additional 13,460 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Bausch + Lomb in the fourth quarter valued at about $735,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

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.