Cinctive Capital Management LP Invests $870,000 in Bausch + Lomb Co. (NYSE:BLCO)

Cinctive Capital Management LP bought a new stake in shares of Bausch + Lomb Co. (NYSE:BLCO - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 45,102 shares of the company's stock, valued at approximately $870,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Blue Trust Inc. raised its holdings in shares of Bausch + Lomb by 14,052.2% in the 2nd quarter. Blue Trust Inc. now owns 3,255 shares of the company's stock worth $47,000 after buying an additional 3,232 shares in the last quarter. Renaissance Capital LLC boosted its position in Bausch + Lomb by 20.0% in the 3rd quarter. Renaissance Capital LLC now owns 43,560 shares of the company's stock valued at $840,000 after buying an additional 7,274 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Bausch + Lomb in the 2nd quarter worth $173,000. Charles Schwab Investment Management Inc. lifted its holdings in Bausch + Lomb by 80.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 29,755 shares of the company's stock worth $576,000 after acquiring an additional 13,302 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of Bausch + Lomb in the 3rd quarter valued at about $302,000. Institutional investors own 11.07% of the company's stock.

Bausch + Lomb Trading Up 0.4 %

Shares of BLCO stock traded up $0.08 during trading hours on Wednesday, reaching $19.75. 171,998 shares of the stock were exchanged, compared to its average volume of 550,464. Bausch + Lomb Co. has a 12-month low of $13.16 and a 12-month high of $21.69. The company has a current ratio of 1.57, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69. The company's 50-day moving average price is $19.80 and its 200-day moving average price is $17.27. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of -18.76, a price-to-earnings-growth ratio of 1.87 and a beta of 0.43.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the business posted $0.22 EPS. The firm's revenue for the quarter was up 18.8% on a year-over-year basis. As a group, equities analysts anticipate that Bausch + Lomb Co. will post 0.6 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on BLCO. Royal Bank of Canada lifted their price target on Bausch + Lomb from $20.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Citigroup upped their price target on shares of Bausch + Lomb from $20.00 to $24.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Evercore ISI raised shares of Bausch + Lomb from an "in-line" rating to an "outperform" rating and boosted their price objective for the stock from $19.00 to $25.00 in a research note on Tuesday, October 15th. Morgan Stanley cut 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 research report on Monday. Finally, Stifel Nicolaus increased their price objective on shares of Bausch + Lomb from $16.00 to $19.00 and gave the stock a "hold" rating in a research report on Monday, September 23rd. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $21.00.

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.