Bausch + Lomb (NYSE:BLCO) Shares Gap Down – Time to Sell?

Bausch + Lomb Co. (NYSE:BLCO)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $17.75, but opened at $16.54. Bausch + Lomb shares last traded at $16.40, with a volume of 697,249 shares traded.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Evercore ISI upgraded Bausch + Lomb from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $19.00 to $25.00 in a research report on Tuesday, October 15th. Wells Fargo & Company dropped their target price on shares of Bausch + Lomb from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Royal Bank of Canada decreased their price objective on Bausch + Lomb from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Bank of America reissued an “underperform” rating and issued a $18.00 price target on shares of Bausch + Lomb in a research note on Thursday, December 12th. Finally, Citigroup lowered Bausch + Lomb from a “buy” rating to a “neutral” rating and dropped their price objective for the company 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 given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bausch + Lomb has an average rating of “Hold” and a consensus price target of $20.25.

Bausch + Lomb Stock Performance

The company has a 50 day moving average of $18.00 and a two-hundred day moving average of $18.14. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.57 and a quick ratio of 0.95. The company has a market capitalization of $5.68 billion, a PE ratio of -15.34, a PEG ratio of 2.30 and a beta of 0.46.

Institutional Trading of Bausch + Lomb

A number of hedge funds and other institutional investors have recently modified their holdings of BLCO. Barclays PLC bought a new stake in Bausch + Lomb during the third quarter worth about $5,797,000. Quadrature Capital Ltd purchased a new position in shares of Bausch + Lomb during the third quarter valued at approximately $526,000. River Road Asset Management LLC boosted its position in shares of Bausch + Lomb by 4.4% in the 3rd quarter. River Road Asset Management LLC now owns 2,020,414 shares of the company’s stock worth $38,974,000 after purchasing an additional 85,987 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Bausch + Lomb in the 3rd quarter worth approximately $957,000. Finally, Cubist Systematic Strategies LLC bought a new position in Bausch + Lomb during the 2nd quarter valued at approximately $580,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

About Bausch + Lomb

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.