Raymond James & Associates purchased new shares in Bausch + Lomb Co. (NYSE: BLCO – Get Rating) in the third quarter, according to its latest Form 13F filed with the SEC. Institutional investors purchased 162,764 shares of the company’s stock worth approximately $2,497,000.
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A number of other hedge funds have also recently increased or decreased their stakes in the company. Factorial Partners LLC acquired another stake in Bausch + Lomb worth approximately $300,000 in the second quarter. Penn Capital Management Company LLC purchased Bausch & Lomb’s new position for his $1,846,000 in the second quarter. Davidson Kempner Capital Management LP acquired a new position worth his $7,239,000 in Bosch in the second quarter. Clearline Capital LP purchased new Bausch + Lomb stock worth approximately $4,177,000 in the second quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in Bausch & Lomb worth approximately $256,000 in the second quarter. Hedge funds and other institutional investors own 12.44% of the company’s shares.
Analyst Rating Change
Multiple analysts have commented on the BLCO stock. Royal Bank of Canada lowered its price target for Bausch & Lomb to $17.00 from $18.00, giving it an “excellent” rating in its research notes on Thursday, November 3rd. HC Wainwright, in a research note on Thursday, November 3, lowered his price target on Bausch & Lomb shares to $20.00 from $21.00, giving the stock a “buy” rating. Goldman Sachs Group Inc. lowered its price target on Bausch & Lomb shares to $17.00 from $19.00 and set the company’s rating to Neutral in its research notes on Wednesday, November 23. Barclays launched coverage of his Rom stock in Bosch in its Research Note on Wednesday, December 21st. They set an “equal-weighted” rating and a price target of $17.00. Finally, Morgan Stanley lowered its price target for Bausch & Lomb shares from her $19.00 to her $18.00 in her Thursday, Nov. 3 research report, giving the company an “equal-weighted” rating. Five equity research analysts rated the stock with a hold rating and ten gave the company a buy rating. According to MarketBeat data, the company’s current consensus rating is “moderate buy” with a consensus target price of $22.00.
Bausch & Lomb Stock Performance
NYSE:BLCO opened at $17.12 on Friday. On Bausch & Lomb, his 52-week low is $12.20 and his 52-week high is $20.20. The company has a quick ratio of 1.05, a current ratio of 1.55 and a debt to equity ratio of 0.36. His 50-day simple moving average for this stock is $15.44 and its 200-day simple moving average is $15.53.
Bausch & Lomb (NYSE:BLCO – Get Rating) last reported quarterly results on Wednesday, November 2nd. The company reported his earnings per share (EPS) of $0.31 for the quarter, beating consensus expectations of his $0.23 by $0.08. The company’s revenue for the quarter was $942 million, compared to consensus expectations of $947.49 million. Bausch & Lomb’s net profit margin was 1.54% and return on equity was 4.59%. Equity research analysts expect Bausch + Lomb to post earnings of 1.05 per share for the current year.
Profile of Bausch & Lomb
Bausch + Lomb Corporation is a global eye health company. It operates through three segments: Vision Care/Consumer Healthcare, Ophthalmic Pharmaceuticals, and Surgery. The Vision Care/Consumer Healthcare segment offers contact lenses covering a variety of wear methods, including daily disposable contact lenses and frequently replaced contact lenses. We have contact lens care products, over-the-counter eye drops, eye vitamins and mineral supplements for a variety of conditions such as eye allergies, conjunctivitis and dry eye.
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