Bausch + Lomb (NYSE:BLCO) Shares Down 5.8% - What's Next?

Key Points

• Bausch + Lomb shares fell 5.8% to about $16.30 in midday trading, with volume roughly 63% below the average. The stock’s market capitalization is approximately $5.62 billion.
• Analyst sentiment is mixed: MarketBeat reports a consensus “Hold” rating and an average price target of $19.46, while individual targets range from $17 to $24.
• The company’s latest quarter showed revenue rising 9.1% year over year to $1.39 billion, slightly above estimates, but EPS of $0.15 missed expectations by $0.01. Insiders sold 71,459 shares worth approximately $1.19 million over the past 90 days.

Bausch + Lomb Corporation (NYSE:BLCO - Get Free Report)'s stock price fell 5.8% during mid-day trading on Monday. The company traded as low as $16.13 and last traded at $16.2990. Approximately 154,963 shares traded hands during trading, a decline of 63% from the average daily volume of 414,952 shares. The stock had previously closed at $17.30.

Wall Street Analyst Weigh In

Several research firms have recently commented on BLCO. UBS Group assumed coverage on Bausch + Lomb in a report on Thursday, July 30th. They issued a "buy" rating and a $21.00 price objective on the stock. Evercore set a $17.00 price target on Bausch + Lomb in a research report on Monday, July 6th. Barclays raised Bausch + Lomb to a "strong-buy" rating in a research note on Wednesday, October 7th. Leerink Partners initiated coverage on Bausch + Lomb in a research report on Wednesday, September 9th. They issued an "outperform" rating and a $24.00 price objective for the company. Finally, HC Wainwright restated a "buy" rating and issued a $21.00 target price on shares of Bausch + Lomb in a report on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $19.46.

Bausch + Lomb Price Performance

The business's 50 day moving average price is $17.20 and its two-hundred day moving average price is $16.44. The stock has a market cap of $5.62 billion, a P/E ratio of -32.91, a price-to-earnings-growth ratio of 0.54 and a beta of 0.56. The company has a current ratio of 1.55, a quick ratio of 1.02 and a debt-to-equity ratio of 0.79.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). The company had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.37 billion. Bausch + Lomb had a negative net margin of 3.21% and a positive return on equity of 4.14%. Bausch + Lomb's quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.18) EPS. As a group, sell-side analysts expect that Bausch + Lomb Corporation will post 0.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Bausch + Lomb

In related news, CAO Frederick Munsch sold 52,900 shares of the company's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $16.78, for a total value of $887,662.00. Following the sale, the chief accounting officer directly owned 45,831 shares of the company's stock, valued at $769,044.18. This represents a 53.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eschenbach Andrew C. Von sold 6,059 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $16.58, for a total value of $100,458.22. Following the completion of the transaction, the director owned 63,733 shares of the company's stock, valued at approximately $1,056,693.14. This trade represents a 8.68% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 71,459 shares of company stock worth $1,194,370. 1.45% of the stock is owned by insiders.

Institutional Trading of Bausch + Lomb

Hedge funds have recently modified their holdings of the business. Whitebox Advisors LLC lifted its position in Bausch + Lomb by 15.8% during the 1st quarter. Whitebox Advisors LLC now owns 1,101,854 shares of the company's stock valued at $17,519,000 after acquiring an additional 150,641 shares during the period. Sei Investments Co. boosted its stake in Bausch + Lomb by 100.0% during the first quarter. Sei Investments Co. now owns 139,266 shares of the company's stock worth $2,214,000 after acquiring an additional 69,633 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in Bausch + Lomb in the second quarter worth about $1,479,000. Dimensional Fund Advisors LP grew its holdings in Bausch + Lomb by 13.2% in the first quarter. Dimensional Fund Advisors LP now owns 85,779 shares of the company's stock worth $1,362,000 after purchasing an additional 9,971 shares during the period. Finally, Bank of America Corp DE grew its holdings in Bausch + Lomb by 16.0% in the first quarter. Bank of America Corp DE now owns 65,765 shares of the company's stock worth $1,046,000 after purchasing an additional 9,066 shares during the period. Institutional investors own 11.07% of the company's stock.

About Bausch + Lomb

Bausch + Lomb Corporation NYSE: BLCO is a global eye-health company that develops, manufactures and markets products for vision care, pharmaceuticals and surgical applications. Its portfolio is intended to address a broad range of eye conditions and support patients, eye-care professionals and surgical specialists.

The company's vision-care products include contact lenses and contact-lens-care solutions, while its pharmaceutical portfolio includes prescription and over-the-counter treatments for conditions affecting the eyes.

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