Bausch + Lomb (NYSE:BLCO) Shares Gap Down – Time to Sell?

Bausch + Lomb Co. (NYSE:BLCO)’s stock price 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.

Wall Street Analyst Weigh In

Several research analysts have commented on BLCO shares. HC Wainwright restated a “buy” rating and set a $23.00 price objective on shares of Bausch + Lomb in a report on Tuesday, February 18th. Bank of America decreased their price objective on Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating for the company in a report on Thursday, February 20th. Citigroup cut shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $24.00 to $22.00 in a report on Wednesday, December 11th. Wells Fargo & Company cut their target price on shares of Bausch + Lomb from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Bausch + Lomb presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Bausch + Lomb Stock Performance

The business has a 50-day moving average price of $16.34 and a 200-day moving average price of $18.11. 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 firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of -15.72, a P/E/G ratio of 0.85 and a beta of 0.49.

Bausch + Lomb (NYSE:BLCO) last announced its 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 company 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 firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 EPS. As a group, sell-side analysts forecast that Bausch + Lomb Co. will post 0.74 earnings per share for the current year.

Institutional Trading of Bausch + Lomb

A number of institutional investors have recently bought and sold shares of the stock. Polar Asset Management Partners Inc. raised its holdings in shares of Bausch + Lomb by 120.4% in the fourth quarter. Polar Asset Management Partners Inc. now owns 33,062 shares of the company’s stock worth $597,000 after buying an additional 18,062 shares during the last quarter. Alpine Global Management LLC purchased a new position in Bausch + Lomb in the 4th quarter worth $181,000. Tang Capital Management LLC lifted 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 acquiring an additional 100,000 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake 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 valued at $947,000 after purchasing an additional 13,460 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Bausch + Lomb in the fourth quarter worth about $735,000. 11.07% of the stock is currently 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.