Alpine Global Management LLC Boosts Stock Holdings in Bausch + Lomb Corporation $BLCO

Key Points

• Alpine Global Management LLC increased its stake in Bausch + Lomb Corporation by 320.2% during the first quarter, owning 42,021 shares valued at approximately $609,000.
• Bausch + Lomb has recently seen a mix of analyst ratings, with three ratings as "Buy," seven as "Hold," and one as "Sell," leading to a consensus rating of "Hold" and an average price target of $15.56.
• The company reported $1.28 billion in revenue for the last quarter, exceeding expectations, with earnings per share also surpassing the consensus estimate.

Alpine Global Management LLC lifted its position in Bausch + Lomb Corporation (NYSE:BLCO - Free Report) by 320.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,021 shares of the company's stock after buying an additional 32,021 shares during the period. Alpine Global Management LLC's holdings in Bausch + Lomb were worth $609,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. National Bank of Canada FI grew its stake in Bausch + Lomb by 101.7% in the first quarter. National Bank of Canada FI now owns 6,719 shares of the company's stock valued at $97,000 after purchasing an additional 3,387 shares in the last quarter. Vident Advisory LLC acquired a new position in shares of Bausch + Lomb during the 1st quarter valued at about $289,000. State of Wyoming boosted its stake in Bausch + Lomb by 47.7% during the 1st quarter. State of Wyoming now owns 19,972 shares of the company's stock valued at $290,000 after purchasing an additional 6,447 shares during the period. Trexquant Investment LP boosted its stake in Bausch + Lomb by 5.8% during the 1st quarter. Trexquant Investment LP now owns 20,255 shares of the company's stock valued at $294,000 after purchasing an additional 1,108 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Bausch + Lomb during the 4th quarter valued at approximately $372,000. Institutional investors own 11.07% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Citigroup raised their target price on Bausch + Lomb from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. HC Wainwright boosted their target price on Bausch + Lomb from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Barclays dropped their target price on shares of Bausch + Lomb from $19.00 to $16.00 and set an "equal weight" rating for the company in a research report on Monday, June 9th. Wells Fargo & Company boosted their price objective on shares of Bausch + Lomb from $12.00 to $15.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Finally, Morgan Stanley boosted their target price on Bausch + Lomb from $12.00 to $13.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Bausch + Lomb presently has a consensus rating of "Hold" and an average target price of $15.56.

Bausch + Lomb Price Performance

Shares of BLCO stock traded down $0.16 during trading hours on Wednesday, reaching $14.66. The company's stock had a trading volume of 556,536 shares, compared to its average volume of 622,571. The company has a quick ratio of 0.98, a current ratio of 1.55 and a debt-to-equity ratio of 0.76. Bausch + Lomb Corporation has a fifty-two week low of $10.45 and a fifty-two week high of $21.69. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of -18.79, a PEG ratio of 1.49 and a beta of 0.63. The firm's 50 day simple moving average is $14.05 and its 200-day simple moving average is $13.48.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. Bausch + Lomb had a positive return on equity of 2.33% and a negative net margin of 5.58%.The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the company earned $0.13 EPS. Bausch + Lomb's revenue for the quarter was up 5.1% compared to the same quarter last year. Bausch + Lomb has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Bausch + Lomb Corporation will post 0.74 earnings per share for the current 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.