Bausch + Lomb (NYSE:BLCO) Shares Down 0.9% – Here’s Why

Shares of Bausch + Lomb Corporation (NYSE:BLCO) dropped 0.9% during trading on Thursday . The stock traded as low as $16.29 and last traded at $16.4050. Approximately 274,608 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 301,098 shares. The stock had previously closed at $16.55.

Analyst Ratings Changes

BLCO has been the topic of several recent research reports. HC Wainwright increased their target price on shares of Bausch + Lomb from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Wall Street Zen upgraded Bausch + Lomb from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. JPMorgan Chase & Co. lifted their target price on Bausch + Lomb from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Wells Fargo & Company boosted their target price on shares of Bausch + Lomb from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, November 14th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $19.00 price objective (up previously from $18.00) on shares of Bausch + Lomb in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Bausch + Lomb currently has a consensus rating of “Hold” and a consensus target price of $17.42.

Bausch + Lomb Price Performance

The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.76. The stock has a 50-day moving average price of $16.96 and a 200 day moving average price of $15.61. The firm has a market capitalization of $5.81 billion, a PE ratio of -18.86, a PEG ratio of 0.96 and a beta of 0.61.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its position in Bausch + Lomb by 428.7% in the first quarter. Goldman Sachs Group Inc. now owns 299,671 shares of the company’s stock valued at $4,345,000 after buying an additional 242,993 shares during the last quarter. Woodline Partners LP increased its stake in Bausch + Lomb by 0.5% during the 1st quarter. Woodline Partners LP now owns 312,823 shares of the company’s stock worth $4,536,000 after buying an additional 1,436 shares during the period. Blue Trust Inc. increased its position in shares of Bausch + Lomb by 58.5% during the second quarter. Blue Trust Inc. now owns 4,502 shares of the company’s stock worth $59,000 after acquiring an additional 1,662 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Bausch + Lomb by 136.6% during the second quarter. Allianz Asset Management GmbH now owns 769,000 shares of the company’s stock worth $10,005,000 after buying an additional 444,000 shares during the period. Finally, FNY Investment Advisers LLC increased its holdings in Bausch + Lomb by 93.8% in the second quarter. FNY Investment Advisers LLC now owns 6,200 shares of the company’s stock valued at $80,000 after buying an additional 3,000 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.