Bausch + Lomb (NYSE:BLCO) Shares Gap Down – What’s Next?

Bausch + Lomb Co. (NYSE:BLCO) gapped down prior to trading on Monday . The stock had previously closed at $19.82, but opened at $19.25. Bausch + Lomb shares last traded at $19.28, with a volume of 52,223 shares trading hands.

Wall Street Analyst Weigh In

BLCO has been the topic of several research reports. Stifel Nicolaus boosted their price target on shares of Bausch + Lomb from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, October 31st. Citigroup boosted their price objective on shares of Bausch + Lomb from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Morgan Stanley cut shares of Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price objective for the company. in a research note on Monday. Finally, Evercore ISI raised shares of Bausch + Lomb from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $19.00 to $25.00 in a research note on Tuesday, October 15th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Bausch + Lomb Price Performance

The company has a current ratio of 1.57, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $6.84 billion, a PE ratio of -18.50, a PEG ratio of 1.90 and a beta of 0.46. The business has a fifty day moving average price of $19.79 and a 200-day moving average price of $17.21.

Bausch + Lomb (NYSE:BLCO) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. Bausch + Lomb had a positive return on equity of 3.17% and a negative net margin of 7.86%. Bausch + Lomb’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 earnings per share. Research analysts expect that Bausch + Lomb Co. will post 0.6 EPS for the current fiscal year.

Institutional Trading of Bausch + Lomb

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its stake in shares of Bausch + Lomb by 5.6% in the 3rd quarter. State Street Corp now owns 28,450 shares of the company’s stock valued at $549,000 after acquiring an additional 1,510 shares during the last quarter. HighTower Advisors LLC lifted its position in Bausch + Lomb by 14.7% in the third quarter. HighTower Advisors LLC now owns 24,661 shares of the company’s stock valued at $476,000 after purchasing an additional 3,164 shares during the last quarter. Blue Trust Inc. boosted its stake 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 purchasing an additional 3,232 shares during the period. Renaissance Capital LLC grew its holdings in shares of Bausch + Lomb by 20.0% in the third quarter. Renaissance Capital LLC now owns 43,560 shares of the company’s stock worth $840,000 after purchasing an additional 7,274 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Bausch + Lomb in the second quarter worth $173,000. 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.