Magnetar Financial LLC Invests $392,000 in Bausch + Lomb Corporation $BLCO

Key Points

• Magnetar Financial LLC has acquired 27,063 shares of Bausch + Lomb Corporation, valued at approximately $392,000, during the first quarter.
• Multiple large investors, including Deutsche Bank AG and King Street Capital Management L.P., have also significantly increased their stakes in Bausch + Lomb recently, reflecting growing institutional interest in the company.
• Analysts have set a consensus rating of "Hold" for Bausch + Lomb with an average target price of $15.56, indicating mixed sentiments regarding the stock's future performance.

Magnetar Financial LLC acquired a new position in Bausch + Lomb Corporation (NYSE:BLCO - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 27,063 shares of the company's stock, valued at approximately $392,000.

Other large investors have also bought and sold shares of the company. Deutsche Bank AG acquired a new position in shares of Bausch + Lomb during the 1st quarter worth about $50,750,000. King Street Capital Management L.P. grew its position in shares of Bausch + Lomb by 55.2% during 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 buying an additional 404,256 shares during the period. Allianz Asset Management GmbH acquired a new position in shares of Bausch + Lomb during the 1st quarter worth about $4,712,000. Brevan Howard Capital Management LP acquired a new position in shares of Bausch + Lomb during the 4th quarter worth about $5,385,000. Finally, Alberta Investment Management Corp grew 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 worth $47,360,000 after buying an additional 258,000 shares during the period. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BLCO. Zacks Research upgraded Bausch + Lomb to a "hold" rating in a research report on Tuesday, August 12th. Wells Fargo & Company boosted their target price on Bausch + Lomb from $12.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Evercore ISI lifted their price objective on 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 Bausch + Lomb from $12.00 to $13.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Finally, Barclays cut their price objective 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. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $15.56.

Bausch + Lomb Stock Up 2.8%

NYSE BLCO traded up $0.40 during trading on Friday, hitting $14.99. The stock had a trading volume of 743,936 shares, compared to its average volume of 476,287. The company has a market capitalization of $5.31 billion, a PE ratio of -19.22, a P/E/G ratio of 1.49 and a beta of 0.63. The company's 50-day moving average price is $14.16 and its two-hundred day moving average price is $13.46. 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 12 month low of $10.45 and a 12 month high of $21.69.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.07 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 positive return on equity of 2.33% and a negative net margin of 5.58%.The business's quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 EPS. Bausch + Lomb has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Bausch + Lomb Corporation will post 0.74 EPS for the current year.

About Bausch + Lomb

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.