Renaissance Capital LLC Buys 50,622 Shares of Bausch + Lomb Co. (NYSE:BLCO)

Renaissance Capital LLC boosted its holdings in shares of Bausch + Lomb Co. (NYSE:BLCO - Free Report) by 116.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,182 shares of the company's stock after buying an additional 50,622 shares during the quarter. Bausch + Lomb makes up about 1.1% of Renaissance Capital LLC's investment portfolio, making the stock its 23rd largest holding. Renaissance Capital LLC's holdings in Bausch + Lomb were worth $1,701,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Bausch + Lomb by 53.9% in the second quarter. Dimensional Fund Advisors LP now owns 67,690 shares of the company's stock worth $984,000 after buying an additional 23,714 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Bausch + Lomb during the 2nd quarter valued at approximately $173,000. Cubist Systematic Strategies LLC purchased a new stake in Bausch + Lomb in the 2nd quarter worth approximately $580,000. River Road Asset Management LLC raised its stake in Bausch + Lomb by 4.4% during the 3rd quarter. River Road Asset Management LLC now owns 2,020,414 shares of the company's stock worth $38,974,000 after acquiring an additional 85,987 shares during the period. Finally, 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 valued at $576,000 after purchasing an additional 13,302 shares in the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on BLCO shares. HC Wainwright restated a "buy" rating and set a $23.00 price objective on shares of Bausch + Lomb in a research report on Thursday, December 12th. Needham & Company LLC reissued a "hold" rating on shares of Bausch + Lomb in a report on Thursday, October 31st. Citigroup downgraded Bausch + Lomb from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $24.00 to $22.00 in a research report on Wednesday, December 11th. Evercore ISI raised Bausch + Lomb from an "in-line" rating to an "outperform" rating and lifted their target price for the company from $19.00 to $25.00 in a research note on Tuesday, October 15th. Finally, Bank of America reissued an "underperform" rating and issued a $18.00 price target on shares of Bausch + Lomb in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $20.25.

Bausch + Lomb Price Performance

Shares of NYSE BLCO traded up $0.05 during midday trading on Friday, reaching $16.11. 554,441 shares of the stock traded hands, compared to its average volume of 674,662. The company's 50 day moving average is $18.00 and its 200 day moving average is $18.14. Bausch + Lomb Co. has a one year low of $13.16 and a one year high of $21.69. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.57 and a quick ratio of 0.95. The stock has a market capitalization of $5.68 billion, a PE ratio of -15.34, a P/E/G ratio of 2.30 and a beta of 0.46.

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.