NYSE:BLCO - Get Free Report ) hit a new 52-week low on Thursday following a dissappointing earnings announcement. The stock traded as low as $13.35 and last traded at $13.36, with a volume of 55139 shares. The stock had previously closed at $13.74.
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The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). Bausch + Lomb had a positive return on equity of 3.70% and a negative net margin of 6.27%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the business earned $0.10 EPS. The firm's revenue for the quarter was up 18.0% compared to the same quarter last year.
Analyst Ratings Changes A number of research firms have recently issued reports on BLCO. HC Wainwright reiterated a "buy" rating and issued a $20.00 price objective on shares of Bausch + Lomb in a report on Thursday. Wells Fargo & Company upped their price target on shares of Bausch + Lomb from $21.00 to $23.00 and gave the company an "overweight" rating in a research report on Thursday, February 22nd. Evercore dropped their price objective 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Bausch + Lomb in a report on Wednesday. Finally, Royal Bank of Canada decreased their target price on Bausch + Lomb from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Monday, April 22nd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $19.27.
Check Out Our Latest Stock Analysis on Bausch + Lomb
Institutional Trading of Bausch + Lomb A number of hedge funds and other institutional investors have recently bought and sold shares of BLCO. Black Swift Group LLC bought a new position in Bausch + Lomb in the 3rd quarter worth about $170,000. Jump Financial LLC bought a new position in Bausch + Lomb in the third quarter worth approximately $255,000. Renaissance Capital LLC increased its holdings in Bausch + Lomb by 27.3% during the 4th quarter. Renaissance Capital LLC now owns 22,407 shares of the company's stock worth $382,000 after purchasing an additional 4,801 shares during the period. Quadrature Capital Ltd purchased a new position in Bausch + Lomb during the 3rd quarter worth $466,000. Finally, Tectonic Advisors LLC lifted its holdings in shares of Bausch + Lomb by 4.7% in the 3rd quarter. Tectonic Advisors LLC now owns 42,323 shares of the company's stock worth $717,000 after buying an additional 1,907 shares during the period. Hedge funds and other institutional investors own 11.07% of the company's stock.
Bausch + Lomb Stock Up 0.9 % The firm has a market cap of $4.87 billion, a P/E ratio of -18.73, a P/E/G ratio of 1.40 and a beta of 0.47. The company has a current ratio of 1.74, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average price of $15.91 and a 200-day moving average price of $15.64.
About Bausch + Lomb (
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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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