Cubist Systematic Strategies LLC Buys Shares of 146,162 Bausch + Lomb Corporation $BLCO

Key Points

• Cubist Systematic Strategies LLC has acquired a new position in Bausch + Lomb Corporation, purchasing 146,162 shares valued at approximately $2.12 million in the first quarter.
• Other institutional investors, including Deutsche Bank AG and King Street Capital Management, have significantly increased their stakes in Bausch + Lomb, reflecting a growing interest in the company's stock, which is currently owned by 11.07% of institutional investors.
• Bausch + Lomb recently reported quarterly earnings with an EPS of $0.07, beating expectations and showing a 5.1% year-over-year revenue growth, indicating positive financial momentum.

Cubist Systematic Strategies LLC bought a new stake in shares of Bausch + Lomb Corporation (NYSE:BLCO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 146,162 shares of the company's stock, valued at approximately $2,119,000.

A number of other institutional investors have also bought and sold shares of the company. Deutsche Bank AG bought a new position in shares of Bausch + Lomb during the 1st quarter worth about $50,750,000. Alberta Investment Management Corp lifted its holdings in shares of Bausch + Lomb by 8.6% in the 1st quarter. Alberta Investment Management Corp now owns 3,266,193 shares of the company's stock worth $47,360,000 after purchasing an additional 258,000 shares in 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 purchasing an additional 404,256 shares in the last quarter. Clark Estates Inc. NY lifted its position in Bausch + Lomb by 3.7% in the 1st quarter. Clark Estates Inc. NY now owns 622,000 shares of the company's stock valued at $9,019,000 after acquiring an additional 22,000 shares in the last quarter. Finally, Tang Capital Management LLC lifted its position in Bausch + Lomb by 28.6% in the 4th quarter. Tang Capital Management LLC now owns 450,000 shares of the company's stock valued at $8,127,000 after acquiring an additional 100,000 shares in the last quarter. Institutional investors own 11.07% of the company's stock.

Bausch + Lomb Price Performance

Shares of NYSE BLCO traded up $0.37 during mid-day trading on Thursday, hitting $15.37. 178,131 shares of the company's stock traded hands, compared to its average volume of 765,705. The company's 50-day moving average is $14.27 and its two-hundred day moving average is $13.45. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.55 and a quick ratio of 0.98. The company has a market capitalization of $5.44 billion, a P/E ratio of -19.70, a PEG ratio of 1.56 and a beta of 0.63. Bausch + Lomb Corporation has a 1 year low of $10.45 and a 1 year high of $21.69.

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, beating the consensus estimate of $0.06 by $0.01. The firm had revenue of $1.28 billion for 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 business's revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.13 EPS. Bausch + Lomb has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Bausch + Lomb Corporation will post 0.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BLCO shares. HC Wainwright increased their price objective on shares of Bausch + Lomb from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Evercore ISI upped their price objective on shares of Bausch + Lomb from $15.50 to $16.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Barclays decreased 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 note on Monday, June 9th. Morgan Stanley increased their target price on Bausch + Lomb from $12.00 to $13.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Finally, Citigroup upped their target price on shares of Bausch + Lomb from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Bausch + Lomb has an average rating of "Hold" and a consensus target price of $15.56.

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.