Raymond James Financial Inc. Buys New Stake in Bausch + Lomb Co. (NYSE:BLCO)

Raymond James Financial Inc. acquired a new position in shares of Bausch + Lomb Co. (NYSE:BLCO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 157,454 shares of the company's stock, valued at approximately $2,844,000.

A number of other institutional investors also recently bought and sold shares of BLCO. Alberta Investment Management Corp increased its holdings in shares of Bausch + Lomb by 36.0% during the 4th quarter. Alberta Investment Management Corp now owns 3,008,193 shares of the company's stock worth $54,328,000 after buying an additional 796,400 shares during the last quarter. King Street Capital Management L.P. purchased a new position in Bausch + Lomb in the third quarter worth approximately $14,122,000. Barclays PLC acquired a new stake in Bausch + Lomb during the third quarter worth $5,797,000. Point72 DIFC Ltd purchased a new stake in Bausch + Lomb in the third quarter valued at $4,331,000. Finally, Renaissance Capital LLC lifted its stake in shares of Bausch + Lomb by 116.2% in the 4th quarter. Renaissance Capital LLC now owns 94,182 shares of the company's stock valued at $1,701,000 after purchasing an additional 50,622 shares during the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

Bausch + Lomb Stock Up 1.7 %

Shares of BLCO traded up $0.24 during midday trading on Wednesday, reaching $14.34. The stock had a trading volume of 425,705 shares, compared to its average volume of 609,922. The company has a market cap of $5.05 billion, a price-to-earnings ratio of -15.76, a PEG ratio of 0.85 and a beta of 0.49. The company's fifty day simple moving average is $16.06 and its two-hundred day simple moving average is $18.06. Bausch + Lomb Co. has a 1-year low of $13.16 and a 1-year high of $21.69. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.60 and a quick ratio of 1.01.

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Bausch + Lomb (NYSE:BLCO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.02. The company had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.26 billion. Bausch + Lomb had a positive return on equity of 3.35% and a negative net margin of 6.62%. Bausch + Lomb's quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $0.24 earnings per share. Equities research analysts expect that Bausch + Lomb Co. will post 0.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BLCO. Stifel Nicolaus reduced their price objective on shares of Bausch + Lomb from $19.00 to $18.00 and set a "hold" rating on the stock in a report on Wednesday, January 29th. Royal Bank of Canada decreased their price objective on shares of Bausch + Lomb from $22.00 to $18.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. Needham & Company LLC reiterated a "hold" rating on shares of Bausch + Lomb in a report on Thursday, February 20th. Bank of America decreased their price target on Bausch + Lomb from $18.00 to $17.00 and set an "underperform" rating on the stock in a research note on Thursday, February 20th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $23.00 price objective on shares of Bausch + Lomb in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $19.18.

Bausch + Lomb 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.