Bausch + Lomb Co. (NYSE:BLCO) Shares Bought by Cinctive Capital Management LP

Cinctive Capital Management LP raised its holdings in Bausch + Lomb Co. (NYSE:BLCO - Free Report) by 114.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 96,696 shares of the company's stock after purchasing an additional 51,594 shares during the period. Cinctive Capital Management LP's holdings in Bausch + Lomb were worth $1,746,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Barclays PLC purchased a new position in Bausch + Lomb in the 3rd quarter valued at $5,797,000. Quadrature Capital Ltd purchased a new stake in Bausch + Lomb in the third quarter valued at $526,000. Janus Henderson Group PLC purchased a new stake in Bausch + Lomb in the 3rd quarter valued at about $957,000. King Street Capital Management L.P. acquired a new position in Bausch + Lomb in the third quarter valued at about $14,122,000. Finally, Raymond James Financial Inc. purchased a new stake in Bausch + Lomb in the fourth quarter valued at approximately $2,844,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Citigroup cut Bausch + Lomb from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $24.00 to $22.00 in a research note on Wednesday, December 11th. Bank of America lowered their price objective on Bausch + Lomb from $18.00 to $17.00 and set an "underperform" rating for the company in a research report on Thursday, February 20th. Needham & Company LLC restated a "hold" rating on shares of Bausch + Lomb in a research note on Thursday, February 20th. Wells Fargo & Company reissued an "equal weight" rating and set a $15.00 price objective (down previously from $24.00) on shares of Bausch + Lomb in a report on Friday, March 28th. Finally, Stifel Nicolaus cut their price target on shares of Bausch + Lomb from $17.00 to $15.00 and set a "hold" rating on the stock in a research note on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $18.82.

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Bausch + Lomb Stock Performance

BLCO stock traded up $1.54 during trading on Wednesday, hitting $12.54. The company had a trading volume of 1,442,703 shares, compared to its average volume of 623,451. Bausch + Lomb Co. has a 1-year low of $10.46 and a 1-year high of $21.69. The firm has a 50-day moving average price of $15.30 and a 200-day moving average price of $17.71. The company has a quick ratio of 1.01, a current ratio of 1.60 and a debt-to-equity ratio of 0.72. The firm has a market cap of $4.42 billion, a PE ratio of -13.78, a price-to-earnings-growth ratio of 0.85 and a beta of 0.54.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $0.25 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company's revenue for the quarter was up 9.1% compared to the same quarter last year. On average, analysts expect that Bausch + Lomb Co. will post 0.74 earnings per share for the current year.

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.