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

Shares of Bausch + Lomb Co. (NYSE:BLCO) gapped down before the market opened 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 trading hands.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BLCO. Morgan Stanley lowered shares of Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price objective for the company. in a research note on Monday, December 2nd. Royal Bank of Canada decreased their price objective on shares of Bausch + Lomb from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Bausch + Lomb in a research report on Thursday, December 12th. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a report on Thursday, October 31st. Finally, Wells Fargo & Company lowered their price target on Bausch + Lomb from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.25.

Bausch + Lomb Stock Performance

The company has a market cap of $5.68 billion, a P/E ratio of -15.34, a P/E/G ratio of 2.30 and a beta of 0.46. The company has a quick ratio of 0.95, a current ratio of 1.57 and a debt-to-equity ratio of 0.69. The business has a fifty day simple moving average of $18.00 and a two-hundred day simple moving average of $18.14.

Hedge Funds Weigh In On Bausch + Lomb

Several institutional investors have recently made changes to their positions in BLCO. Alberta Investment Management Corp increased its holdings in Bausch + Lomb by 36.0% during the fourth quarter. Alberta Investment Management Corp now owns 3,008,193 shares of the company’s stock valued at $54,328,000 after buying an additional 796,400 shares during the last quarter. River Road Asset Management LLC lifted its position in shares of Bausch + Lomb by 4.4% during the 3rd quarter. River Road Asset Management LLC now owns 2,020,414 shares of the company’s stock valued at $38,974,000 after buying an additional 85,987 shares in the last quarter. King Street Capital Management L.P. bought a new position in shares of Bausch + Lomb during the 3rd quarter valued at approximately $14,122,000. Barclays PLC purchased a new stake in Bausch + Lomb in the 3rd quarter worth approximately $5,797,000. Finally, Point72 DIFC Ltd bought a new stake in Bausch + Lomb during the 3rd quarter worth approximately $4,331,000. Institutional investors 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.