Yakira Capital Management Inc. Invests $421,000 in Bausch + Lomb Co. (NYSE:BLCO)

Yakira Capital Management Inc. bought a new stake in shares of Bausch + Lomb Co. (NYSE:BLCO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 23,334 shares of the company's stock, valued at approximately $421,000.

Several other hedge funds have also recently added to or reduced their stakes in BLCO. Alberta Investment Management Corp lifted its holdings in shares of Bausch + Lomb by 36.0% during the fourth 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. Arrowstreet Capital Limited Partnership increased its position in Bausch + Lomb by 51.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,218,431 shares of the company's stock worth $21,996,000 after acquiring an additional 414,138 shares during the period. King Street Capital Management L.P. acquired a new position in Bausch + Lomb during the 3rd quarter valued at $14,122,000. Barclays PLC bought a new stake in Bausch + Lomb in the 3rd quarter valued at $5,797,000. Finally, Raymond James Financial Inc. acquired a new stake in Bausch + Lomb in the 4th quarter worth $2,844,000. Institutional investors own 11.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BLCO shares. Stifel Nicolaus reduced their target price on shares of Bausch + Lomb from $17.00 to $15.00 and set a "hold" rating for the company in a research note on Thursday, April 3rd. Bank of America reduced 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. HC Wainwright restated a "buy" rating and set a $23.00 price objective on shares of Bausch + Lomb in a research report on Tuesday, February 18th. Needham & Company LLC restated a "hold" rating on shares of Bausch + Lomb in a research note on Thursday, February 20th. Finally, Royal Bank of Canada decreased their price target on shares of Bausch + Lomb from $18.00 to $17.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $18.82.

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Bausch + Lomb Price Performance

Shares of NYSE BLCO traded down $0.13 during midday trading on Friday, reaching $11.19. 227,298 shares of the company traded hands, compared to its average volume of 624,919. Bausch + Lomb Co. has a 12 month low of $10.46 and a 12 month high of $21.69. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.60. The stock's 50-day simple moving average is $15.18 and its 200-day simple moving average is $17.66. The firm has a market cap of $3.95 billion, a PE ratio of -12.30, a PEG ratio of 0.85 and a beta of 0.54.

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

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.