Orion Portfolio Solutions LLC Takes Position in Bausch + Lomb Co. (NYSE:BLCO)

Orion Portfolio Solutions LLC bought a new position in Bausch + Lomb Co. (NYSE:BLCO) during the fourth quarter, Holdings Channel reports. The firm bought 12,448 shares of the company’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alberta Investment Management Corp increased its holdings in shares of Bausch + Lomb by 36.0% in 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. Barclays PLC bought a new stake in Bausch + Lomb during the third quarter worth approximately $5,797,000. Raymond James Financial Inc. purchased a new stake in Bausch + Lomb during the fourth quarter valued at approximately $2,844,000. 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. Finally, Janus Henderson Group PLC purchased a new position in shares of Bausch + Lomb in the 3rd quarter worth approximately $957,000. 11.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BLCO has been the topic of several recent research reports. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a report on Thursday, February 20th. HC Wainwright reaffirmed a “buy” rating and set a $23.00 price target on shares of Bausch + Lomb in a research note on Tuesday, February 18th. Stifel Nicolaus reduced their price objective on shares of Bausch + Lomb from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, April 3rd. Royal Bank of Canada dropped their target price on Bausch + Lomb from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Friday, April 4th. Finally, Bank of America cut their target price 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.82.

Bausch + Lomb Stock Down 10.3 %

Shares of NYSE BLCO opened at $11.25 on Friday. The stock has a 50 day moving average price of $15.18 and a 200 day moving average price of $17.66. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of -12.36, a PEG ratio of 0.85 and a beta of 0.54. Bausch + Lomb Co. has a 52-week low of $10.46 and a 52-week 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.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.26 billion. Bausch + Lomb had a positive return on equity of 3.35% and a negative net margin of 6.62%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.24 EPS. Sell-side analysts expect that Bausch + Lomb Co. will post 0.74 earnings per share for the current year.

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.