Deutsche Bank AG Takes $50.75 Million Position in Bausch + Lomb Corporation (NYSE:BLCO)

Key Points

• Deutsche Bank AG has acquired a new stake in Bausch + Lomb Corporation, investing approximately $50.75 million for 3.5 million shares, equating to a 0.99% ownership as of the latest SEC filing.
• Several hedge funds increased their positions in Bausch + Lomb, with notable increases including Polar Asset Management at 120.4% and OCONNOR, a UBS unit, at 34.5% during the fourth quarter.
• Analysts have varying price targets for Bausch + Lomb, with Barclays reducing its target from $19 to $16 while Wells Fargo raised it from $12 to $15, reflecting an overall consensus rating of "Hold" and an average price target of $15.56.

Deutsche Bank AG purchased a new stake in Bausch + Lomb Corporation (NYSE:BLCO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,500,000 shares of the company's stock, valued at approximately $50,750,000. Deutsche Bank AG owned about 0.99% of Bausch + Lomb as of its most recent SEC filing.

Several other large investors have also modified their holdings of BLCO. Price T Rowe Associates Inc. MD acquired a new position in shares of Bausch + Lomb in the 4th quarter valued at $14,122,000. King Street Capital Management L.P. lifted its stake 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 valued at $20,522,000 after purchasing an additional 404,256 shares during the last quarter. Allianz Asset Management GmbH acquired a new position in shares of Bausch + Lomb in the 1st quarter valued at $4,712,000. Brevan Howard Capital Management LP acquired a new position in shares of Bausch + Lomb in the 4th quarter valued at $5,385,000. Finally, Alberta Investment Management Corp lifted its stake 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 valued at $47,360,000 after purchasing an additional 258,000 shares during the last quarter. Institutional investors and hedge funds own 11.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Morgan Stanley upped their price target 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. HC Wainwright increased their target price on Bausch + Lomb from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Needham & Company LLC reissued a "hold" rating on shares of Bausch + Lomb in a research note on Thursday, April 24th. Wells Fargo & Company increased their target price on Bausch + Lomb from $12.00 to $15.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Finally, Citigroup increased their target price on Bausch + Lomb from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $15.56.

Bausch + Lomb Stock Up 3.1%

NYSE BLCO traded up $0.44 during trading hours on Friday, hitting $14.52. 737,836 shares of the company were exchanged, compared to its average volume of 1,011,750. The company has a 50 day moving average of $13.39 and a two-hundred day moving average of $13.69. 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 52-week low of $10.45 and a 52-week high of $21.69. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of -18.62, a PEG ratio of 1.43 and a beta of 0.62.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.07 earnings per share 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 company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the business earned $0.13 EPS. Bausch + Lomb's revenue was up 5.1% on a year-over-year basis. Equities research analysts anticipate that Bausch + Lomb Corporation will post 0.74 earnings per share for the current year.

Insider Activity at Bausch + Lomb

In other Bausch + Lomb news, CEO Brent L. Saunders acquired 22,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were acquired at an average price of $11.28 per share, for a total transaction of $248,160.00. Following the acquisition, the chief executive officer owned 719,156 shares in the company, valued at $8,112,079.68. The trade was a 3.16% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.76% of the company's stock.

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.