Bausch + Lomb (NYSE:BLCO) Reaches New 1-Year Low on Disappointing Earnings

Bausch + Lomb Co. (NYSE:BLCO) shares reached a new 52-week low on Thursday after the company announced weaker than expected quarterly earnings. The stock 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. Bausch + Lomb had a negative net margin of 6.27% and a positive return on equity of 3.70%. The business’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BLCO. Evercore reduced their target price 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. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Bausch + Lomb in a report on Thursday. Royal Bank of Canada reduced their target price on shares of Bausch + Lomb from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. Evercore ISI boosted their target price on shares of Bausch + Lomb from $16.50 to $17.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Finally, Barclays boosted their target price on shares of Bausch + Lomb from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.27.

Institutional Investors Weigh In On Bausch + Lomb

Several large investors have recently added to or reduced their stakes in BLCO. Black Swift Group LLC purchased a new stake in Bausch + Lomb in the 3rd quarter valued at about $170,000. Jump Financial LLC purchased a new stake in Bausch + Lomb in the 3rd quarter valued at about $255,000. Renaissance Capital LLC lifted its position in shares of Bausch + Lomb by 27.3% in 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 stake in shares of Bausch + Lomb in the 3rd quarter worth approximately $466,000. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Bausch + Lomb in the 4th quarter worth approximately $1,706,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

Bausch + Lomb Price Performance

The firm’s 50-day moving average price is $15.91 and its two-hundred day moving average price is $15.64. The stock has a market cap of $4.87 billion, a PE ratio of -18.73, a PEG 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.

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.