Bausch + Lomb (NYSE:BLCO) Stock Price Down 0.9% – Should You Sell?

Bausch + Lomb Corporation (NYSE:BLCO)’s share price dropped 0.9% 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.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Raymond James Financial reaffirmed an “outperform” rating and set a $19.00 price target (up previously from $18.00) on shares of Bausch + Lomb in a research report on Thursday, October 30th. Wall Street Zen upgraded shares of Bausch + Lomb from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Barclays lifted their target price on shares of Bausch + Lomb from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, October 31st. Royal Bank Of Canada increased their price target on shares of Bausch + Lomb from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 27th. Finally, Evercore ISI set a $18.00 price objective on shares of Bausch + Lomb and gave the stock an “in-line” rating in a research report on Monday, January 5th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $17.42.

Bausch + Lomb Trading Down 0.9%

The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of -18.86, a price-to-earnings-growth ratio of 0.96 and a beta of 0.61. The business’s 50 day moving average price is $16.96 and its 200-day moving average price is $15.61. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.51 and a quick ratio of 0.98.

Institutional Trading of Bausch + Lomb

Several hedge funds have recently modified their holdings of the business. Oaktree Capital Management LP purchased a new stake in shares of Bausch + Lomb in the second quarter valued at approximately $32,801,000. Glenview Capital Management LLC lifted its holdings in Bausch + Lomb by 210.8% in the second quarter. Glenview Capital Management LLC now owns 1,553,855 shares of the company’s stock valued at $20,216,000 after acquiring an additional 1,053,855 shares during the period. Davidson Kempner Capital Management LP acquired a new stake in Bausch + Lomb in the third quarter valued at $14,776,000. Woodline Partners LP boosted its position in shares of Bausch + Lomb by 175.3% during the 3rd quarter. Woodline Partners LP now owns 861,053 shares of the company’s stock worth $12,976,000 after purchasing an additional 548,230 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of Bausch + Lomb by 136.6% during the 2nd quarter. Allianz Asset Management GmbH now owns 769,000 shares of the company’s stock worth $10,005,000 after purchasing an additional 444,000 shares during the period. 11.07% of the stock is 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.