Balyasny Asset Management L.P. Buys New Position in Bausch + Lomb Co. (NYSE:BLCO)

Balyasny Asset Management L.P. bought a new stake in shares of Bausch + Lomb Co. (NYSE:BLCO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 34,445 shares of the company’s stock, valued at approximately $622,000.

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in Bausch + Lomb by 68.3% during the fourth quarter. Blue Trust Inc. now owns 2,474 shares of the company’s stock valued at $48,000 after purchasing an additional 1,004 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Bausch + Lomb in the fourth quarter worth $72,000. Commonwealth Equity Services LLC purchased a new position in shares of Bausch + Lomb in the fourth quarter worth $181,000. Alpine Global Management LLC purchased a new position in shares of Bausch + Lomb in the fourth quarter worth $181,000. Finally, Covestor Ltd purchased a new position in shares of Bausch + Lomb in the fourth quarter worth $188,000. 11.07% of the stock is currently owned by institutional investors.

Bausch + Lomb Trading Up 1.9%

BLCO stock opened at $11.77 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.60 and a debt-to-equity ratio of 0.72. Bausch + Lomb Co. has a twelve month low of $10.45 and a twelve month high of $21.69. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of -12.93, a price-to-earnings-growth ratio of 0.85 and a beta of 0.58. The firm’s fifty day simple moving average is $13.11 and its two-hundred day simple moving average is $16.35.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, April 30th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Bausch + Lomb had a negative net margin of 6.62% and a positive return on equity of 3.35%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the firm earned $0.07 EPS. The company’s revenue was up 3.5% on a year-over-year basis. As a group, analysts anticipate that Bausch + Lomb Co. will post 0.74 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on BLCO shares. Royal Bank of Canada lowered their target price on shares of Bausch + Lomb from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Friday, April 4th. Evercore ISI lowered their target price on shares of Bausch + Lomb from $19.00 to $15.50 and set an “outperform” rating on the stock in a report on Thursday, May 1st. HC Wainwright lowered their target price on shares of Bausch + Lomb from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Citigroup reduced their price target on shares of Bausch + Lomb from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Finally, Wells Fargo & Company reduced their price target on shares of Bausch + Lomb from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $15.50.

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.