Tudor Investment Corp ET AL Takes $2.25 Million Position in Bausch + Lomb Corporation $BLCO

Key Points

• Tudor Investment Corp. established a new position in Bausch + Lomb (NYSE:BLCO), purchasing 149,270 shares valued at about $2.25 million in the 3rd quarter per its 13F filing.
• Insiders bought shares recently—EVP A. Robert D. Bailey bought 14,600 shares and CFO Sam Eldessouky bought 4,000 shares on March 6—part of 33,300 insider purchases in the last 90 days, bringing insider ownership to 0.76%.
• Mixed financials and market view: revenue of $1.41 billion beat estimates (+9.8% YoY) but EPS of $0.32 missed consensus, the stock opened at $15.38 (down 3.2%), and analysts have a consensus "Hold" rating with a $18.25 target.

Tudor Investment Corp ET AL bought a new position in Bausch + Lomb Corporation (NYSE:BLCO - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 149,270 shares of the company's stock, valued at approximately $2,249,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its holdings in Bausch + Lomb by 428.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 299,671 shares of the company's stock valued at $4,345,000 after acquiring an additional 242,993 shares during the last quarter. Woodline Partners LP lifted its stake in Bausch + Lomb by 0.5% in the 1st quarter. Woodline Partners LP now owns 312,823 shares of the company's stock worth $4,536,000 after purchasing an additional 1,436 shares in the last quarter. Handelsbanken Fonder AB bought a new position in shares of Bausch + Lomb during the 2nd quarter valued at about $202,000. JPMorgan Chase & Co. bought a new position in shares of Bausch + Lomb during the 2nd quarter valued at about $200,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Bausch + Lomb by 729.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the company's stock valued at $30,000 after purchasing an additional 2,042 shares in the last quarter. Institutional investors own 11.07% of the company's stock.

Bausch + Lomb Stock Down 3.2%

Shares of NYSE:BLCO opened at $15.38 on Friday. The company has a market cap of $5.46 billion, a price-to-earnings ratio of -15.08, a PEG ratio of 0.64 and a beta of 0.58. Bausch + Lomb Corporation has a 12 month low of $10.45 and a 12 month high of $18.92. The company has a current ratio of 1.55, a quick ratio of 1.04 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average price of $17.02 and a 200 day moving average price of $16.30.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). Bausch + Lomb had a positive return on equity of 2.77% and a negative net margin of 7.06%.The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the firm earned $0.25 earnings per share. The company's revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts predict that Bausch + Lomb Corporation will post 0.74 earnings per share for the current year.

Insider Transactions at Bausch + Lomb

In related news, EVP A Robert D. Bailey bought 14,600 shares of the company's stock in a transaction dated Friday, March 6th. The stock was purchased at an average price of $17.15 per share, for a total transaction of $250,390.00. Following the acquisition, the executive vice president owned 231,890 shares in the company, valued at $3,976,913.50. This trade represents a 6.72% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sam Eldessouky bought 4,000 shares of the business's stock in a transaction dated Friday, March 6th. The shares were bought at an average cost of $17.13 per share, for a total transaction of $68,520.00. Following the transaction, the chief financial officer owned 403,130 shares in the company, valued at approximately $6,905,616.90. The trade was a 1.00% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders purchased 33,300 shares of company stock worth $570,868. 0.76% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BLCO has been the topic of a number of research analyst reports. Citigroup boosted their target price on Bausch + Lomb from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, February 19th. Evercore set a $18.00 price target on Bausch + Lomb and gave the company an "in-line" rating in a report on Monday, January 5th. Stifel Nicolaus set a $16.00 price objective on Bausch + Lomb in a research note on Thursday, February 19th. Wells Fargo & Company upped their price objective on Bausch + Lomb from $17.00 to $18.00 and gave the stock an "equal weight" rating in a report on Thursday, February 19th. Finally, Wall Street Zen downgraded Bausch + Lomb from a "buy" rating to a "hold" rating in a research report on Saturday, February 21st. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $18.25.

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.

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