TD Asset Management Inc Purchases Shares of 40,578 Bausch + Lomb Corporation (NYSE:BLCO)

Key Points

• TD Asset Management Inc purchased 40,578 shares of Bausch + Lomb Corporation valued at approximately $588,000, marking a significant investment during the first quarter.
• CEO Brent L. Saunders also bought 22,000 shares for around $248,160, increasing his ownership to 719,156 shares.
• Analysts have raised price targets for Bausch + Lomb, with new targets ranging from $13.00 to $16.00, while the stock has a current average rating of "Hold."

TD Asset Management Inc bought a new position in shares of Bausch + Lomb Corporation (NYSE:BLCO - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 40,578 shares of the company's stock, valued at approximately $588,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alpine Global Management LLC acquired a new stake in shares of Bausch + Lomb during the fourth quarter worth about $181,000. Commonwealth Equity Services LLC acquired a new stake in shares of Bausch + Lomb during the fourth quarter worth about $181,000. Covestor Ltd acquired a new stake in shares of Bausch + Lomb during the fourth quarter worth about $188,000. Orion Portfolio Solutions LLC acquired a new stake in shares of Bausch + Lomb during the fourth quarter worth about $225,000. Finally, Tabor Asset Management LP acquired a new stake in shares of Bausch + Lomb during the first quarter worth about $338,000. Institutional investors and hedge funds own 11.07% of the company's stock.

Insiders Place Their Bets

In other Bausch + Lomb news, CEO Brent L. Saunders acquired 22,000 shares of the stock in a transaction on Thursday, May 22nd. The shares were bought at an average price of $11.28 per share, with a total value of $248,160.00. Following the acquisition, the chief executive officer owned 719,156 shares of the company's stock, valued at $8,112,079.68. This trade represents a 3.16% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.15% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. 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. 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. HC Wainwright raised their price target on Bausch + Lomb from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Wells Fargo & Company boosted their price target on Bausch + Lomb from $12.00 to $15.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Finally, Barclays dropped their price target on Bausch + Lomb from $19.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Bausch + Lomb currently has an average rating of "Hold" and an average target price of $15.56.

Bausch + Lomb Price Performance

Shares of BLCO opened at $13.76 on Tuesday. Bausch + Lomb Corporation has a twelve month low of $10.45 and a twelve month high of $21.69. The stock's 50 day moving average is $12.95 and its two-hundred day moving average is $13.84. The firm has a market capitalization of $4.87 billion, a PE ratio of -17.64, a P/E/G ratio of 1.59 and a beta of 0.62. The company has a current ratio of 1.55, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1.25 billion. During the same quarter in the previous year, the company earned $0.13 EPS. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. Research analysts anticipate that Bausch + Lomb Corporation will post 0.74 earnings per share for the current year.

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.

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