Bausch + Lomb (NYSE:BLCO) Shares Down 4.1%

Shares of Bausch + Lomb Co. (NYSE:BLCO) traded down 4.1% on Thursday . The company traded as low as $15.30 and last traded at $15.50. 345,019 shares changed hands during trading, a decline of 30% from the average session volume of 493,591 shares. The stock had previously closed at $16.17.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Evercore ISI boosted their price objective on shares of Bausch + Lomb from $15.00 to $15.50 and gave the company an “in-line” rating in a research report on Tuesday, July 2nd. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Bausch + Lomb in a research report on Thursday, May 2nd. Evercore cut their price target on shares of Bausch + Lomb from $17.00 to $15.00 and set an “in-line” rating on the stock in a report on Thursday, May 2nd. Royal Bank of Canada cut their price target on shares of Bausch + Lomb from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.95.

Bausch + Lomb Trading Down 3.1 %

The stock’s 50 day moving average is $15.29 and its two-hundred day moving average is $15.31. The company has a market capitalization of $5.51 billion, a PE ratio of -16.84, a price-to-earnings-growth ratio of 1.76 and a beta of 0.47. The company has a quick ratio of 1.03, a current ratio of 1.70 and a debt-to-equity ratio of 0.68.

Bausch + Lomb (NYSE:BLCO) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Bausch + Lomb had a negative net margin of 7.81% and a positive return on equity of 3.60%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 earnings per share. As a group, sell-side analysts predict that Bausch + Lomb Co. will post 0.63 EPS for the current fiscal year.

Institutional Trading of Bausch + Lomb

Hedge funds have recently modified their holdings of the company. Blue Trust Inc. lifted its position in shares of Bausch + Lomb by 14,052.2% during the second quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock valued at $47,000 after buying an additional 3,232 shares during the last quarter. Fore Capital LLC purchased a new position in shares of Bausch + Lomb in the 1st quarter valued at approximately $384,000. Renaissance Capital LLC raised its position in shares of Bausch + Lomb by 3.0% in the 1st quarter. Renaissance Capital LLC now owns 23,076 shares of the company’s stock valued at $399,000 after purchasing an additional 669 shares during the last quarter. Quadrature Capital Ltd raised its position in shares of Bausch + Lomb by 75.8% in the 4th quarter. Quadrature Capital Ltd now owns 48,258 shares of the company’s stock valued at $824,000 after purchasing an additional 20,803 shares during the last quarter. Finally, Jump Financial LLC raised its position in shares of Bausch + Lomb by 478.0% in the 4th quarter. Jump Financial LLC now owns 87,100 shares of the company’s stock valued at $1,486,000 after purchasing an additional 72,030 shares during the last quarter. 11.07% of the stock is 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.