Dynamic Technology Lab Private Ltd Makes New Investment in Bausch + Lomb Co. (NYSE:BLCO)

Dynamic Technology Lab Private Ltd bought a new position in shares of Bausch + Lomb Co. (NYSE:BLCO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 48,228 shares of the company's stock, valued at approximately $871,000.

Several other hedge funds have also made changes to their positions in the business. Cinctive Capital Management LP increased its position in shares of Bausch + Lomb by 114.4% during the fourth quarter. Cinctive Capital Management LP now owns 96,696 shares of the company's stock worth $1,746,000 after acquiring an additional 51,594 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Bausch + Lomb by 51.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,218,431 shares of the company's stock valued at $21,996,000 after buying an additional 414,138 shares during the period. Orion Portfolio Solutions LLC acquired a new position in shares of Bausch + Lomb during the fourth quarter worth about $225,000. Commonwealth Equity Services LLC purchased a new stake in shares of Bausch + Lomb during the fourth quarter worth approximately $181,000. Finally, Fore Capital LLC lifted its stake in Bausch + Lomb by 9.5% in the fourth quarter. Fore Capital LLC now owns 57,614 shares of the company's stock worth $1,041,000 after acquiring an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 11.07% of the company's stock.

Bausch + Lomb Stock Performance

Shares of BLCO traded down $0.18 during mid-day trading on Friday, hitting $11.14. 144,944 shares of the company's stock were exchanged, compared to its average volume of 624,577. The firm has a market capitalization of $3.94 billion, a P/E ratio of -12.16, a P/E/G ratio of 0.85 and a beta of 0.54. Bausch + Lomb Co. has a fifty-two week low of $10.46 and a fifty-two week high of $21.69. The business's 50 day moving average is $15.18 and its two-hundred day moving average is $17.66. The company has a current ratio of 1.60, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72.

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Bausch + Lomb (NYSE:BLCO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.26 billion. During the same period last year, the firm earned $0.24 EPS. The firm's revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts expect that Bausch + Lomb Co. will post 0.74 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BLCO shares. Bank of America decreased their price objective on shares of Bausch + Lomb from $18.00 to $17.00 and set an "underperform" rating for the company in a research report on Thursday, February 20th. Stifel Nicolaus lowered their price objective on Bausch + Lomb from $17.00 to $15.00 and set a "hold" rating for the company in a research report on Thursday, April 3rd. Royal Bank of Canada decreased their target price on Bausch + Lomb from $18.00 to $17.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $15.00 price target (down from $24.00) on shares of Bausch + Lomb in a research note on Friday, March 28th. Finally, Needham & Company LLC restated a "hold" rating on shares of Bausch + Lomb in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $18.82.

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.