Charles Schwab Investment Management Inc. Raises Stake in Bausch + Lomb Co. (NYSE:BLCO)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Bausch + Lomb Co. (NYSE:BLCO) by 38.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 41,085 shares of the company’s stock after buying an additional 11,330 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Bausch + Lomb were worth $742,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BLCO. Verition Fund Management LLC purchased a new position in shares of Bausch + Lomb during the third quarter worth $302,000. Cinctive Capital Management LP acquired a new stake in Bausch + Lomb during the 3rd quarter worth about $870,000. HighTower Advisors LLC raised its stake in shares of Bausch + Lomb by 14.7% during the 3rd quarter. HighTower Advisors LLC now owns 24,661 shares of the company’s stock valued at $476,000 after buying an additional 3,164 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of Bausch + Lomb in the 3rd quarter valued at about $957,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in shares of Bausch + Lomb in the third quarter worth about $289,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Bausch + Lomb Stock Up 2.6 %

Shares of NYSE BLCO opened at $14.50 on Tuesday. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of -15.93, a price-to-earnings-growth ratio of 0.85 and a beta of 0.49. The company’s 50-day simple moving average is $16.17 and its 200-day simple moving average is $18.10. The company has a quick ratio of 1.01, a current ratio of 1.60 and a debt-to-equity ratio of 0.72. Bausch + Lomb Co. has a 52-week low of $13.16 and a 52-week high of $21.69.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. Bausch + Lomb had a positive return on equity of 3.35% and a negative net margin of 6.62%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the firm posted $0.24 EPS. Bausch + Lomb’s revenue was up 9.1% compared to the same quarter last year. Equities analysts predict that Bausch + Lomb Co. will post 0.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $23.00 price target on shares of Bausch + Lomb in a research report on Tuesday, February 18th. Morgan Stanley lowered shares of Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 target price for the company. in a report on Monday, December 2nd. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a report on Thursday, February 20th. Royal Bank of Canada cut their price objective on shares of Bausch + Lomb from $22.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Finally, Stifel Nicolaus decreased their price objective on shares of Bausch + Lomb from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.18.

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.