TD Asset Management Inc Invests $588,000 in 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 purchased a new position in Bausch + Lomb Corporation (NYSE:BLCO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 40,578 shares of the company's stock, valued at approximately $588,000.

A number of other large investors have also modified their holdings of BLCO. Alpine Global Management LLC purchased a new position in Bausch + Lomb in the fourth quarter valued at $181,000. Commonwealth Equity Services LLC acquired a new position in shares of Bausch + Lomb during the 4th quarter worth about $181,000. Covestor Ltd purchased a new position in shares of Bausch + Lomb in the 4th quarter valued at about $188,000. Orion Portfolio Solutions LLC acquired a new stake in shares of Bausch + Lomb during the 4th quarter worth about $225,000. Finally, XTX Topco Ltd lifted its stake in Bausch + Lomb by 25.4% during the fourth quarter. XTX Topco Ltd now owns 20,077 shares of the company's stock worth $363,000 after purchasing an additional 4,065 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company's stock.

Bausch + Lomb Stock Performance

NYSE BLCO traded down $0.09 during trading on Friday, reaching $13.71. The company's stock had a trading volume of 82,379 shares, compared to its average volume of 804,174. The business's fifty day moving average price is $13.09 and its 200-day moving average price is $13.82. Bausch + Lomb Corporation has a twelve month low of $10.45 and a twelve month high of $21.69. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 1.55. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of -17.58, a P/E/G ratio of 1.44 and a beta of 0.62.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.07 earnings per share (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 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 firm posted $0.13 EPS. As a group, analysts anticipate that Bausch + Lomb Corporation will post 0.74 EPS for the current fiscal year.

Analyst Ratings Changes

BLCO has been the topic of several recent analyst reports. HC Wainwright increased their price target on shares of Bausch + Lomb from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Needham & Company LLC restated a "hold" rating on shares of Bausch + Lomb in a report on Thursday, April 24th. Wells Fargo & Company lifted their price target on shares of Bausch + Lomb from $12.00 to $15.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Barclays decreased their price objective on shares of Bausch + Lomb from $19.00 to $16.00 and set an "equal weight" rating for the company in a research note on Monday, June 9th. Finally, 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. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $15.56.

Insider Activity

In related news, CEO Brent L. Saunders purchased 22,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was acquired at an average price of $11.28 per share, for a total transaction of $248,160.00. Following the completion of the purchase, the chief executive officer directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.76% of the company's stock.

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.