Bausch + Lomb (NYSE:BLCO) Trading Down 6.7% – Time to Sell?

Bausch + Lomb Co. (NYSE:BLCO)’s stock price dropped 6.7% on Friday . The stock traded as low as $14.15 and last traded at $13.99. Approximately 178,698 shares were traded during trading, a decline of 70% from the average daily volume of 587,951 shares. The stock had previously closed at $15.00.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BLCO shares. Bank of America cut their target price on Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating on the stock in a research report on Thursday, February 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a report on Thursday, February 20th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $15.00 price target (down previously from $24.00) on shares of Bausch + Lomb in a report on Friday. HC Wainwright reaffirmed a “buy” rating and set a $23.00 price objective on shares of Bausch + Lomb in a report on Tuesday, February 18th. Finally, Citigroup lowered Bausch + Lomb from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $24.00 to $22.00 in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $19.18.

Bausch + Lomb Stock Performance

The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of -15.58, a price-to-earnings-growth ratio of 0.85 and a beta of 0.49. The company has a current ratio of 1.60, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72. The stock’s fifty day simple moving average is $16.23 and its 200-day simple moving average is $18.09.

Bausch + Lomb (NYSE:BLCO) last issued its earnings results on Wednesday, February 19th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Bausch + Lomb had a negative net margin of 6.62% and a positive return on equity of 3.35%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The company’s revenue was up 9.1% compared to the same quarter last year. Analysts predict that Bausch + Lomb Co. will post 0.74 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Alberta Investment Management Corp grew its position in shares of Bausch + Lomb by 36.0% during the fourth quarter. Alberta Investment Management Corp now owns 3,008,193 shares of the company’s stock worth $54,328,000 after acquiring an additional 796,400 shares during the last quarter. Whitebox Advisors LLC increased its holdings in Bausch + Lomb by 16.1% in the fourth quarter. Whitebox Advisors LLC now owns 1,443,101 shares of the company’s stock valued at $26,062,000 after buying an additional 199,856 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Bausch + Lomb by 51.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,218,431 shares of the company’s stock worth $21,996,000 after purchasing an additional 414,138 shares during the last quarter. King Street Capital Management L.P. raised its stake in shares of Bausch + Lomb by 55.2% during the 4th quarter. King Street Capital Management L.P. now owns 1,136,321 shares of the company’s stock worth $20,522,000 after buying an additional 404,256 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of Bausch + Lomb in the fourth quarter valued at about $14,122,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

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.