Bausch + Lomb Corporation $BLCO Shares Bought by Sei Investments Co.

Key Points

• Sei Investments Co. doubled its Bausch + Lomb position in the first quarter, acquiring 69,633 additional shares for a total of 139,266 shares valued at approximately $2.21 million.
• Other institutional investors also increased or initiated positions, although institutional ownership remains relatively modest at 11.07% of outstanding shares.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $18.75 versus the stock’s reported opening price of $16.73.

Sei Investments Co. lifted its holdings in Bausch + Lomb Corporation (NYSE:BLCO - Free Report) by 100.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,266 shares of the company's stock after purchasing an additional 69,633 shares during the period. Sei Investments Co.'s holdings in Bausch + Lomb were worth $2,214,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Northwestern Mutual Wealth Management Co. lifted its stake in Bausch + Lomb by 729.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the company's stock valued at $30,000 after purchasing an additional 2,042 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in Bausch + Lomb by 104.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,227 shares of the company's stock worth $38,000 after buying an additional 1,136 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Bausch + Lomb by 31.2% in the fourth quarter. Wells Fargo & Company MN now owns 5,903 shares of the company's stock valued at $101,000 after buying an additional 1,403 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Bausch + Lomb in the third quarter valued at $170,000. Finally, Invesco Ltd. bought a new position in shares of Bausch + Lomb in the fourth quarter valued at $178,000. 11.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BLCO has been the subject of several research reports. Deutsche Bank Aktiengesellschaft set a $16.00 price objective on Bausch + Lomb in a research note on Thursday, April 30th. HC Wainwright upped their target price on Bausch + Lomb from $20.00 to $21.00 and gave the company a "buy" rating in a report on Monday, August 3rd. UBS Group started coverage on Bausch + Lomb in a research report on Thursday, July 30th. They issued a "buy" rating and a $21.00 price target for the company. Citigroup lifted their price target on Bausch + Lomb from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Finally, Evercore set a $17.00 price objective on Bausch + Lomb in a report on Monday, July 6th. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $18.75.

Bausch + Lomb Stock Performance

Shares of Bausch + Lomb stock opened at $16.73 on Friday. The stock has a market cap of $5.98 billion, a PE ratio of -34.86, a price-to-earnings-growth ratio of 0.54 and a beta of 0.56. The business has a fifty day simple moving average of $16.02 and a 200-day simple moving average of $16.40. The company has a quick ratio of 1.02, a current ratio of 1.55 and a debt-to-equity ratio of 0.79. Bausch + Lomb Corporation has a 12 month low of $13.53 and a 12 month high of $18.92.

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.

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