Alberta Investment Management Corp Grows Stock Position in Bausch + Lomb Corporation (NYSE:BLCO)

Key Points

• Alberta Investment Management Corp increased its shares in Bausch + Lomb by 8.6%, owning approximately 3.27 million shares valued at $47.36 million as of its latest SEC filing.
• Analysts have revised their target prices for Bausch + Lomb, with Morgan Stanley lowering theirs from $18.00 to $12.00, contributing to a general consensus rating of "Hold" with an average price target of $15.82.
• Bausch + Lomb's recent earnings report showed a small profit of $0.07 per share, slightly exceeding analyst expectations, while revenue grew to $1.28 billion, a 5.1% increase compared to the previous year.

Alberta Investment Management Corp increased its position in shares of Bausch + Lomb Corporation (NYSE:BLCO - Free Report) by 8.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,266,193 shares of the company's stock after purchasing an additional 258,000 shares during the period. Alberta Investment Management Corp owned 0.92% of Bausch + Lomb worth $47,360,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Whitebox Advisors LLC lifted its holdings in shares of Bausch + Lomb by 16.1% in the 4th quarter. Whitebox Advisors LLC now owns 1,443,101 shares of the company's stock worth $26,062,000 after acquiring an additional 199,856 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Bausch + Lomb by 51.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,218,431 shares of the company's stock worth $21,996,000 after acquiring an additional 414,138 shares during the last quarter. King Street Capital Management L.P. lifted its holdings in shares of Bausch + Lomb by 55.2% in the 4th quarter. King Street Capital Management L.P. now owns 1,136,321 shares of the company's stock worth $20,522,000 after acquiring an additional 404,256 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Bausch + Lomb during the 4th quarter valued at about $14,122,000. Finally, Clark Estates Inc. NY lifted its holdings in Bausch + Lomb by 3.7% during the 1st quarter. Clark Estates Inc. NY now owns 622,000 shares of the company's stock valued at $9,019,000 after buying an additional 22,000 shares in the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BLCO has been the subject of a number of research analyst reports. Citigroup lifted their price objective on shares of Bausch + Lomb from $13.00 to $15.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Evercore ISI lifted their price objective on shares of Bausch + Lomb from $15.50 to $16.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Morgan Stanley lifted their price objective on shares of Bausch + Lomb from $12.00 to $13.00 and gave the company an "equal weight" rating in a report on Friday. Needham & Company LLC reiterated a "hold" rating on shares of Bausch + Lomb in a report on Thursday, April 24th. Finally, Wells Fargo & Company boosted their price target 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Bausch + Lomb presently has an average rating of "Hold" and an average price target of $15.56.

Bausch + Lomb Price Performance

NYSE:BLCO traded up $0.77 during trading hours on Tuesday, reaching $14.49. 1,869,254 shares of the company were exchanged, compared to its average volume of 804,466. The company has a current ratio of 1.55, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. The stock's 50-day moving average is $12.95 and its 200-day moving average is $13.84. The firm has a market cap of $5.13 billion, a PE ratio of -18.59, a price-to-earnings-growth ratio of 1.59 and a beta of 0.62. Bausch + Lomb Corporation has a twelve month low of $10.45 and a twelve month high of $21.69.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.01. The company had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. Bausch + Lomb had a negative net margin of 5.58% and a positive return on equity of 2.33%. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 earnings per share. On average, sell-side analysts anticipate that Bausch + Lomb Corporation will post 0.74 earnings per share for the current fiscal year.

Insider Activity

In other Bausch + Lomb news, CEO Brent L. Saunders bought 22,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was acquired at an average price of $11.28 per share, with a total value of $248,160.00. Following the completion of the acquisition, the chief executive officer directly owned 719,156 shares of the company's stock, valued at $8,112,079.68. This represents a 3.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is owned by insiders.

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.