Tang Capital Management LLC Purchases 100,000 Shares of Bausch + Lomb Co. (NYSE:BLCO)

Tang Capital Management LLC grew its stake in shares of Bausch + Lomb Co. (NYSE:BLCO - Free Report) by 28.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 450,000 shares of the company's stock after acquiring an additional 100,000 shares during the period. Tang Capital Management LLC owned about 0.13% of Bausch + Lomb worth $8,127,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BLCO. Alberta Investment Management Corp boosted its holdings in shares of Bausch + Lomb by 36.0% in the 4th quarter. Alberta Investment Management Corp now owns 3,008,193 shares of the company's stock valued at $54,328,000 after buying an additional 796,400 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in Bausch + Lomb in the 4th quarter valued at about $14,122,000. Arrowstreet Capital Limited Partnership lifted its position in Bausch + Lomb by 51.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,218,431 shares of the company's stock valued at $21,996,000 after purchasing an additional 414,138 shares during the last quarter. King Street Capital Management L.P. lifted its position in 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. Finally, Barclays PLC bought a new stake in Bausch + Lomb in the 3rd quarter valued at about $5,797,000. 11.07% of the stock is owned by institutional investors and hedge funds.

Bausch + Lomb Price Performance

BLCO stock traded down $0.51 during midday trading on Wednesday, reaching $11.24. The company had a trading volume of 625,748 shares, compared to its average volume of 666,897. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of -12.36, a price-to-earnings-growth ratio of 0.85 and a beta of 0.58. The stock has a 50 day moving average price of $12.89 and a 200-day moving average price of $16.14. 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 announced its earnings results on Wednesday, April 30th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.10). The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. Bausch + Lomb had a positive return on equity of 3.35% and a negative net margin of 6.62%. The firm's quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 earnings per share. Equities research analysts expect that Bausch + Lomb Co. will post 0.74 earnings per share for the current year.

Analyst Ratings Changes

BLCO has been the topic of a number of recent analyst reports. Needham & Company LLC restated a "hold" rating on shares of Bausch + Lomb in a research report on Thursday, April 24th. Evercore ISI lowered their price objective on shares of Bausch + Lomb from $19.00 to $15.50 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. HC Wainwright lowered their price objective on shares of Bausch + Lomb from $20.00 to $15.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company lowered their price objective on shares of Bausch + Lomb from $15.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Finally, Stifel Nicolaus lowered their price objective on shares of Bausch + Lomb from $17.00 to $15.00 and set a "hold" rating on the stock in a research report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Bausch + Lomb presently has a consensus rating of "Hold" and a consensus target price of $15.50.

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.