Bausch + Lomb Corporation $BLCO Stock Position Increased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. significantly increased its stake in Bausch + Lomb Corporation by 428.7%, owning 299,671 shares valued at approximately $4.35 million.
• Bausch + Lomb reported $1.28 billion in revenue for the last quarter, exceeding analyst expectations, and posted earnings per share of $0.07, beating the consensus estimate by $0.01.
• Research analysts have mixed views on Bausch + Lomb's stock, with an average rating of "Hold" and a price target of $15.56, with recent upgrades from Wells Fargo and Citigroup reflecting a cautious optimism.

Goldman Sachs Group Inc. lifted its stake in shares of Bausch + Lomb Corporation (NYSE:BLCO - Free Report) by 428.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 299,671 shares of the company's stock after buying an additional 242,993 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.08% of Bausch + Lomb worth $4,345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in BLCO. Ellsworth Advisors LLC grew its position in shares of Bausch + Lomb by 10.0% in the 1st quarter. Ellsworth Advisors LLC now owns 40,516 shares of the company's stock worth $587,000 after acquiring an additional 3,672 shares in the last quarter. Woodline Partners LP grew its position in shares of Bausch + Lomb by 0.5% in the 1st quarter. Woodline Partners LP now owns 312,823 shares of the company's stock worth $4,536,000 after acquiring an additional 1,436 shares in the last quarter. Clearline Capital LP grew its position in shares of Bausch + Lomb by 38.2% in the 1st quarter. Clearline Capital LP now owns 893,790 shares of the company's stock worth $12,960,000 after acquiring an additional 247,149 shares in the last quarter. Nexpoint Asset Management L.P. grew its position in shares of Bausch + Lomb by 147.6% in the 1st quarter. Nexpoint Asset Management L.P. now owns 50,158 shares of the company's stock worth $727,000 after acquiring an additional 29,900 shares in the last quarter. Finally, PDT Partners LLC grew its position in shares of Bausch + Lomb by 25.1% in the 1st quarter. PDT Partners LLC now owns 61,003 shares of the company's stock worth $885,000 after acquiring an additional 12,228 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company's stock.

Bausch + Lomb Stock Performance

Bausch + Lomb stock traded down $0.18 during mid-day trading on Friday, hitting $15.20. 1,235,067 shares of the company's stock traded hands, compared to its average volume of 468,154. The firm has a 50 day moving average price of $14.44 and a 200 day moving average price of $13.38. The company has a quick ratio of 0.98, a current ratio of 1.55 and a debt-to-equity ratio of 0.76. The company has a market cap of $5.38 billion, a PE ratio of -19.49, a price-to-earnings-growth ratio of 1.55 and a beta of 0.63. Bausch + Lomb Corporation has a one year low of $10.45 and a one 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 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 the consensus estimate of $1.25 billion. Bausch + Lomb had a positive return on equity of 2.33% and a negative net margin of 5.58%.The firm's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.13 EPS. Bausch + Lomb has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Bausch + Lomb Corporation will post 0.74 EPS for the current year.

Analyst Ratings Changes

BLCO has been the subject of several research reports. Evercore ISI lifted their target price on Bausch + Lomb from $15.50 to $16.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Barclays decreased their target price on Bausch + Lomb from $19.00 to $16.00 and set an "equal weight" rating for the company in a research report on Monday, June 9th. Citigroup lifted their target price on Bausch + Lomb from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. Morgan Stanley lifted their target price on Bausch + Lomb from $12.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Finally, Zacks Research raised Bausch + Lomb to a "hold" rating in a report on Tuesday, August 12th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $15.56.

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.