Millennium Management LLC Makes New $735,000 Investment in Bausch + Lomb Co. (NYSE:BLCO)

Millennium Management LLC purchased a new position in Bausch + Lomb Co. (NYSE:BLCO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 40,674 shares of the company's stock, valued at approximately $735,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. King Street Capital Management L.P. raised its stake in 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 valued at $20,522,000 after purchasing an additional 404,256 shares during the period. Caption Management LLC bought a new stake in shares of Bausch + Lomb during the fourth quarter valued at approximately $464,000. Centiva Capital LP purchased a new position in shares of Bausch + Lomb in the fourth quarter worth $452,000. Brevan Howard Capital Management LP bought a new position in shares of Bausch + Lomb during the fourth quarter worth $5,385,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Bausch + Lomb during the fourth quarter worth $622,000. 11.07% of the stock is owned by institutional investors.

Insider Transactions at Bausch + Lomb

In other news, CEO Brent L. Saunders purchased 22,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average price of $11.28 per share, for a total transaction of $248,160.00. Following the completion of the acquisition, the chief executive officer now owns 719,156 shares of the company's stock, valued at approximately $8,112,079.68. This trade represents a 3.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.76% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on BLCO. Evercore ISI decreased their price target on shares of Bausch + Lomb from $19.00 to $15.50 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Citigroup decreased their target price on Bausch + Lomb from $14.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company cut their price target on Bausch + Lomb from $15.00 to $12.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Barclays reduced their price objective on Bausch + Lomb from $19.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Monday. Finally, Stifel Nicolaus lowered their target price on Bausch + Lomb from $17.00 to $15.00 and set a "hold" rating for the company in a research report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $15.54.

Bausch + Lomb Trading Up 5.0%

Shares of BLCO traded up $0.60 during midday trading on Tuesday, hitting $12.58. The stock had a trading volume of 1,340,200 shares, compared to its average volume of 683,939. The firm has a market cap of $4.44 billion, a PE ratio of -13.82, a price-to-earnings-growth ratio of 0.85 and a beta of 0.56. The stock's 50 day moving average is $11.86 and its 200 day moving average is $15.29. Bausch + Lomb Co. has a 1 year low of $10.45 and a 1 year high of $21.69. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.60 and a quick ratio of 1.01.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.10). The company had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.15 billion. Bausch + Lomb had a negative net margin of 6.62% and a positive return on equity of 3.35%. The firm's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.07 earnings per share. As a group, analysts forecast that Bausch + Lomb Co. will post 0.74 EPS 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.