Brevan Howard Capital Management LP Makes New Investment in Bausch + Lomb Co. (NYSE:BLCO)

Brevan Howard Capital Management LP acquired a new stake in Bausch + Lomb Co. (NYSE:BLCO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 300,000 shares of the company's stock, valued at approximately $5,385,000. Brevan Howard Capital Management LP owned approximately 0.09% of Bausch + Lomb at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BLCO. Blue Trust Inc. grew its stake in Bausch + Lomb by 68.3% during the 4th quarter. Blue Trust Inc. now owns 2,474 shares of the company's stock worth $48,000 after buying an additional 1,004 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Bausch + Lomb during the fourth quarter worth approximately $72,000. XTX Topco Ltd increased its holdings in shares of Bausch + Lomb by 25.4% in the 4th quarter. XTX Topco Ltd now owns 20,077 shares of the company's stock valued at $363,000 after acquiring an additional 4,065 shares during the period. Fore Capital LLC raised its position in Bausch + Lomb by 9.5% in the 4th quarter. Fore Capital LLC now owns 57,614 shares of the company's stock valued at $1,041,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Barclays PLC boosted its stake in Bausch + Lomb by 1.8% during the 4th quarter. Barclays PLC now owns 305,804 shares of the company's stock worth $5,523,000 after purchasing an additional 5,304 shares during the period. Hedge funds and other institutional investors own 11.07% of the company's stock.

Bausch + Lomb Price Performance

NYSE:BLCO traded down $0.27 during trading hours on Friday, reaching $11.23. 657,304 shares of the company traded hands, compared to its average volume of 648,895. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.60 and a quick ratio of 1.01. Bausch + Lomb Co. has a 1-year low of $10.45 and a 1-year high of $21.69. The firm's 50-day moving average is $13.45 and its 200-day moving average is $16.59. The stock has a market cap of $3.97 billion, a P/E ratio of -12.34, a P/E/G ratio of 0.85 and a beta of 0.58.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.07) 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 analysts' expectations of $1.15 billion. Bausch + Lomb had a positive return on equity of 3.35% and a negative net margin of 6.62%. The business's quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.07 earnings per share. Equities research analysts expect that Bausch + Lomb Co. will post 0.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BLCO shares. Bank of America lowered their price target on Bausch + Lomb from $18.00 to $17.00 and set an "underperform" rating on the stock in a report on Thursday, February 20th. Royal Bank of Canada dropped their target price on Bausch + Lomb from $18.00 to $17.00 and set an "outperform" rating on the stock in a report on Friday, April 4th. Stifel Nicolaus decreased their price target on Bausch + Lomb from $17.00 to $15.00 and set a "hold" rating for the company in a report on Thursday, April 3rd. Wells Fargo & Company dropped their price objective on shares of Bausch + Lomb from $15.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Finally, Needham & Company LLC restated a "hold" rating on shares of Bausch + Lomb in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Bausch + Lomb presently has an average rating of "Hold" and an average target price of $15.50.

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.