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

Bausch + Lomb Co. (NYSE:BLCO) shares 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 changing hands.

Analysts Set New Price Targets

BLCO has been the topic of a number of recent research reports. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a research report on Thursday, October 31st. Stifel Nicolaus raised their target price on shares of Bausch + Lomb from $16.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Citigroup upped their target price on Bausch + Lomb from $20.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Morgan Stanley downgraded Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price target on the stock. in a report on Monday. Finally, HC Wainwright upped their price objective on Bausch + Lomb from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Bausch + Lomb Stock Up 0.9 %

The company has a market cap of $6.92 billion, a price-to-earnings ratio of -18.70, a price-to-earnings-growth ratio of 1.87 and a beta of 0.43. The stock has a 50-day simple moving average of $19.79 and a 200-day simple moving average of $17.24. The company has a current ratio of 1.57, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share 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 the consensus estimate of $1.17 billion. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.17%. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.22 earnings per share. As a group, analysts predict that Bausch + Lomb Co. will post 0.6 EPS for the current year.

Hedge Funds Weigh In On Bausch + Lomb

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLCO. Blue Trust Inc. lifted its holdings in shares of Bausch + Lomb by 14,052.2% in the second quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock valued at $47,000 after buying an additional 3,232 shares during the period. Squarepoint Ops LLC bought a new stake in Bausch + Lomb in the second quarter worth about $173,000. Polar Asset Management Partners Inc. acquired a new stake in Bausch + Lomb in the 3rd quarter valued at about $289,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Bausch + Lomb during the 3rd quarter valued at about $289,000. Finally, Verition Fund Management LLC acquired a new position in shares of Bausch + Lomb in the 3rd quarter worth approximately $302,000. 11.07% of the stock is owned by 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.