Bausch + Lomb (NYSE:BLCO) Hits New 12-Month Low on Disappointing Earnings

Bausch + Lomb Co. (NYSE:BLCO - Get Free Report) hit a new 52-week low during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $10.45 and last traded at $11.57, with a volume of 4133351 shares. 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). The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.15 billion. Bausch + Lomb had a negative net margin of 6.62% and a positive return on equity of 3.35%. The company's quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 EPS.

Analyst Ratings Changes

BLCO has been the subject of a number of research reports. Royal Bank of Canada dropped their price objective on Bausch + Lomb from $18.00 to $17.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Bank of America cut their price target on shares of Bausch + Lomb from $18.00 to $17.00 and set an "underperform" rating on the stock in a research note on Thursday, February 20th. Stifel Nicolaus dropped their price objective on shares of Bausch + Lomb from $17.00 to $15.00 and set a "hold" rating for the company in a report on Thursday, April 3rd. Wells Fargo & Company reiterated an "equal weight" rating and set a $15.00 target price (down from $24.00) on shares of Bausch + Lomb in a report on Friday, March 28th. Finally, HC Wainwright restated a "buy" rating and issued a $23.00 price target on shares of Bausch + Lomb in a research note on Tuesday, February 18th. One 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 company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $18.82.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Polar Asset Management Partners Inc. boosted its holdings in Bausch + Lomb by 120.4% in the fourth quarter. Polar Asset Management Partners Inc. now owns 33,062 shares of the company's stock valued at $597,000 after purchasing an additional 18,062 shares in the last quarter. Alpine Global Management LLC purchased a new stake in shares of Bausch + Lomb during the 4th quarter worth approximately $181,000. Tang Capital Management LLC boosted its holdings in shares of Bausch + Lomb by 28.6% in the 4th quarter. Tang Capital Management LLC now owns 450,000 shares of the company's stock valued at $8,127,000 after buying an additional 100,000 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Bausch + Lomb by 34.5% in 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 buying an additional 13,460 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in Bausch + Lomb during the 4th quarter worth $735,000. Hedge funds and other institutional investors own 11.07% of the company's stock.

Bausch + Lomb Trading Down 15.7 %

The business's 50-day moving average is $14.08 and its two-hundred day moving average is $17.04. The stock has a market capitalization of $4.09 billion, a PE ratio of -12.71, a PEG ratio of 0.85 and a beta of 0.54. The company has a quick ratio of 1.01, a current ratio of 1.60 and a debt-to-equity ratio of 0.72.

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.

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