Clearline Capital LP Acquires 247,149 Shares of Bausch + Lomb Corporation $BLCO

Key Points

• Clearline Capital LP boosted its stake in Bausch + Lomb Corporation by 38.2%, acquiring an additional 247,149 shares in the first quarter, bringing its total ownership to approximately 893,790 shares valued at $12.96 million.
• Several institutional investors, including Deutsche Bank AG and Alberta Investment Management Corp, have recently adjusted their positions in Bausch + Lomb, contributing to a strong institutional ownership of 11.07% of the company's stock.
• Analysts have mixed ratings on Bausch + Lomb, with three giving it a "Buy" rating and a consensus target price of $15.56 despite recent price adjustments from various firms.

Clearline Capital LP boosted its position in Bausch + Lomb Corporation (NYSE:BLCO - Free Report) by 38.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 893,790 shares of the company's stock after purchasing an additional 247,149 shares during the period. Clearline Capital LP owned about 0.25% of Bausch + Lomb worth $12,960,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BLCO. Deutsche Bank AG purchased a new position in Bausch + Lomb in the first quarter worth about $50,750,000. King Street Capital Management L.P. boosted its position in Bausch + Lomb by 55.2% in the fourth quarter. King Street Capital Management L.P. now owns 1,136,321 shares of the company's stock worth $20,522,000 after purchasing an additional 404,256 shares during the last quarter. Allianz Asset Management GmbH purchased a new position in Bausch + Lomb in the first quarter worth about $4,712,000. Alberta Investment Management Corp lifted its position in shares of Bausch + Lomb by 8.6% during the 1st quarter. Alberta Investment Management Corp now owns 3,266,193 shares of the company's stock valued at $47,360,000 after buying an additional 258,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Bausch + Lomb by 428.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 299,671 shares of the company's stock valued at $4,345,000 after buying an additional 242,993 shares in the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. HC Wainwright boosted their price target on Bausch + Lomb from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Zacks Research raised Bausch + Lomb to a "hold" rating in a report on Tuesday, August 12th. Barclays lowered their price target on Bausch + Lomb from $19.00 to $16.00 and set an "equal weight" rating on the stock in a report on Monday, June 9th. Citigroup boosted their price target on Bausch + Lomb from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Finally, Wells Fargo & Company boosted their price target on Bausch + Lomb from $12.00 to $15.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Bausch + Lomb currently has a consensus rating of "Hold" and an average price target of $15.56.

Bausch + Lomb Price Performance

NYSE:BLCO traded down $0.11 during trading hours on Friday, reaching $15.22. The stock had a trading volume of 310,268 shares, compared to its average volume of 500,092. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 1.55. Bausch + Lomb Corporation has a 52 week low of $10.45 and a 52 week high of $21.69. The company has a 50 day moving average price of $14.33 and a two-hundred day moving average price of $13.44. The stock has a market capitalization of $5.39 billion, a PE ratio of -19.51, a PEG ratio of 1.56 and a beta of 0.63.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the company posted $0.13 EPS. The company's revenue was up 5.1% compared to the same quarter last year. Bausch + Lomb has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Bausch + Lomb Corporation will post 0.74 earnings per share for the current fiscal 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.