State Street Corp Boosts Stake in Bausch + Lomb Co. (NYSE:BLCO)

State Street Corp increased its position in shares of Bausch + Lomb Co. (NYSE:BLCO) by 5.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 28,450 shares of the company’s stock after buying an additional 1,510 shares during the quarter. State Street Corp’s holdings in Bausch + Lomb were worth $549,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. River Road Asset Management LLC grew its holdings in shares of Bausch + Lomb by 4.4% during the third quarter. River Road Asset Management LLC now owns 2,020,414 shares of the company’s stock worth $38,974,000 after buying an additional 85,987 shares during the last quarter. Whitebox Advisors LLC boosted its holdings in Bausch + Lomb by 28.2% during the second quarter. Whitebox Advisors LLC now owns 1,545,946 shares of the company’s stock worth $22,447,000 after buying an additional 339,643 shares in the last quarter. Clearline Capital LP grew its position in Bausch + Lomb by 136.8% during the second quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock worth $10,339,000 after buying an additional 411,404 shares during the period. Point72 Europe London LLP increased its holdings in Bausch + Lomb by 28.9% in the second quarter. Point72 Europe London LLP now owns 653,492 shares of the company’s stock valued at $9,489,000 after buying an additional 146,583 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in Bausch + Lomb by 31.0% in the second quarter. Point72 Asset Management L.P. now owns 647,156 shares of the company’s stock valued at $9,397,000 after purchasing an additional 153,000 shares during the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Morgan Stanley downgraded shares of Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price target on the stock. in a report on Monday, December 2nd. Bank of America reiterated an “underperform” rating and set a $18.00 price objective on shares of Bausch + Lomb in a research report on Thursday, December 12th. Stifel Nicolaus boosted their target price on shares of Bausch + Lomb from $16.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. HC Wainwright reaffirmed a “buy” rating and set a $23.00 price target on shares of Bausch + Lomb in a research note on Thursday, December 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.58.

Bausch + Lomb Price Performance

Shares of Bausch + Lomb stock opened at $17.74 on Friday. The business’s fifty day moving average price is $19.28 and its 200 day moving average price is $17.80. The stock has a market capitalization of $6.25 billion, a P/E ratio of -16.90, a PEG ratio of 1.74 and a beta of 0.43. The company has a current ratio of 1.57, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69. Bausch + Lomb Co. has a twelve month low of $13.16 and a twelve month high of $21.69.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.17%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the company posted $0.22 earnings per share. Bausch + Lomb’s revenue was up 18.8% compared to the same quarter last year. As a group, research analysts anticipate that Bausch + Lomb Co. will post 0.6 earnings per share for the current year.

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.