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

Bausch + Lomb Co. (NYSE:BLCO - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $10.45 and last traded at $11.57, with a volume of 4133351 shares changing hands. The stock had previously closed at $13.72.

The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.10). Bausch + Lomb had a negative net margin of 6.62% and a positive return on equity of 3.35%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the firm earned $0.07 earnings per share. Bausch + Lomb's quarterly revenue was up 3.5% on a year-over-year basis.

Analysts Set New Price Targets

BLCO has been the subject of several analyst reports. Stifel Nicolaus decreased their target price on shares of Bausch + Lomb from $17.00 to $15.00 and set a "hold" rating for the company in a research note on Thursday, April 3rd. Morgan Stanley reduced their target price on shares of Bausch + Lomb from $18.00 to $12.00 and set an "equal weight" rating for the company in a research report on Tuesday. Wells Fargo & Company decreased their price objective on shares of Bausch + Lomb from $15.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Royal Bank of Canada dropped their price objective on shares of Bausch + Lomb from $18.00 to $17.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Finally, Bank of America reduced their target price on shares of Bausch + Lomb from $18.00 to $17.00 and set an "underperform" rating on the stock in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Bausch + Lomb currently has an average rating of "Hold" and a consensus price target of $15.50.

Hedge Funds Weigh In On Bausch + Lomb

A number of institutional investors have recently modified their holdings of BLCO. Barclays PLC bought a new position in shares of Bausch + Lomb during the 3rd quarter worth approximately $5,797,000. FNY Investment Advisers LLC purchased a new stake in Bausch + Lomb in the fourth quarter valued at $72,000. Ellsworth Advisors LLC purchased a new position in Bausch + Lomb in the fourth quarter valued at $665,000. Blue Trust Inc. boosted its position in Bausch + Lomb by 68.3% during the fourth quarter. Blue Trust Inc. now owns 2,474 shares of the company's stock worth $48,000 after purchasing an additional 1,004 shares in the last quarter. Finally, Renaissance Capital LLC raised its stake in shares of Bausch + Lomb by 116.2% during the 4th quarter. Renaissance Capital LLC now owns 94,182 shares of the company's stock worth $1,701,000 after buying an additional 50,622 shares during the period. 11.07% of the stock is owned by hedge funds and other institutional investors.

Bausch + Lomb Trading Down 4.1 %

The firm has a market cap of $3.85 billion, a price-to-earnings ratio of -11.98, a price-to-earnings-growth ratio of 0.85 and a beta of 0.58. The company's 50-day moving average price is $13.72 and its 200-day moving average price is $16.75. The company has a quick ratio of 1.01, a current ratio of 1.60 and a debt-to-equity ratio of 0.72.

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.