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

Balyasny Asset Management L.P. bought a new stake in Bausch + Lomb Co. (NYSE:BLCO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 34,445 shares of the company's stock, valued at approximately $622,000.

Several other institutional investors have also made changes to their positions in the stock. Blue Trust Inc. grew its position in Bausch + Lomb by 68.3% in the fourth quarter. Blue Trust Inc. now owns 2,474 shares of the company's stock worth $48,000 after acquiring an additional 1,004 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Bausch + Lomb during the fourth quarter worth $72,000. Commonwealth Equity Services LLC bought a new position in Bausch + Lomb during the fourth quarter valued at about $181,000. Alpine Global Management LLC acquired a new position in shares of Bausch + Lomb during the 4th quarter valued at about $181,000. Finally, Covestor Ltd bought a new position in shares of Bausch + Lomb in the 4th quarter valued at approximately $188,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on BLCO shares. Morgan Stanley lowered their price target on Bausch + Lomb from $18.00 to $12.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. HC Wainwright cut their target price on shares of Bausch + Lomb from $20.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Evercore ISI lowered their price target on Bausch + Lomb from $19.00 to $15.50 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus decreased their target price on Bausch + Lomb from $17.00 to $15.00 and set a "hold" rating for the company in a research note on Thursday, April 3rd. Finally, Citigroup dropped their price target on Bausch + Lomb from $14.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. One equities 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. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $15.50.

Bausch + Lomb Price Performance

NYSE:BLCO remained flat at $11.76 during trading hours on Monday. The company's stock had a trading volume of 767,504 shares, compared to its average volume of 659,919. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of -12.92, a PEG ratio of 0.85 and a beta of 0.58. The business has a 50 day simple moving average of $13.03 and a 200-day simple moving average of $16.24. Bausch + Lomb Co. has a 52-week low of $10.45 and a 52-week high of $21.69. 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 (NYSE:BLCO - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.10). The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. Bausch + Lomb had a positive return on equity of 3.35% and a negative net margin of 6.62%. The company's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.07 EPS. As a group, sell-side analysts expect that Bausch + Lomb Co. will post 0.74 earnings per share for the current year.

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.