Bausch + Lomb (NYSE:BLCO) Hits New 1-Year Low After Earnings Miss

Shares of Bausch + Lomb Co. (NYSE:BLCO) reached a new 52-week low during trading on Thursday following a dissappointing earnings announcement. The company traded as low as $13.35 and last traded at $13.36, with a volume of 55139 shares changing hands. The stock had previously closed at $13.74.

The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. Bausch + Lomb had a negative net margin of 6.27% and a positive return on equity of 3.70%. Bausch + Lomb’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 EPS.

Wall Street Analyst Weigh In

BLCO has been the topic of several research reports. Barclays upped their price target on shares of Bausch + Lomb from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Evercore dropped their price target on shares of Bausch + Lomb from $17.00 to $16.50 and set an “in-line” rating for the company in a research report on Thursday, February 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a research note on Wednesday. Evercore ISI raised their price objective on Bausch + Lomb from $16.50 to $17.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada reduced their target price on Bausch + Lomb from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Bausch + Lomb has an average rating of “Hold” and a consensus price target of $19.41.

Hedge Funds Weigh In On Bausch + Lomb

Institutional investors have recently added to or reduced their stakes in the stock. Tectonic Advisors LLC increased its holdings in shares of Bausch + Lomb by 4.7% during the third quarter. Tectonic Advisors LLC now owns 42,323 shares of the company’s stock worth $717,000 after buying an additional 1,907 shares in the last quarter. TD Asset Management Inc acquired a new position in Bausch + Lomb in the 3rd quarter worth about $2,752,000. Black Swift Group LLC bought a new position in Bausch + Lomb in the third quarter valued at about $170,000. Segantii Capital Management Ltd boosted its stake in shares of Bausch + Lomb by 66.7% during the third quarter. Segantii Capital Management Ltd now owns 500,000 shares of the company’s stock valued at $8,475,000 after purchasing an additional 200,000 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Bausch + Lomb during the third quarter worth about $255,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Bausch + Lomb Price Performance

The company has a 50 day moving average price of $15.97 and a 200-day moving average price of $15.65. The company has a market cap of $4.73 billion, a price-to-earnings ratio of -18.57, a P/E/G ratio of 1.40 and a beta of 0.47. The company has a quick ratio of 1.09, a current ratio of 1.74 and a debt-to-equity ratio of 0.65.

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.