Price T Rowe Associates Inc. MD Acquires New Position in Bausch + Lomb Co. (NYSE:BLCO)

Price T Rowe Associates Inc. MD purchased a new stake in Bausch + Lomb Co. (NYSE:BLCO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 781,900 shares of the company's stock, valued at approximately $14,122,000. Price T Rowe Associates Inc. MD owned 0.22% of Bausch + Lomb as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BLCO. Blue Trust Inc. lifted its position in shares of Bausch + Lomb by 68.3% during the fourth quarter. Blue Trust Inc. now owns 2,474 shares of the company's stock worth $48,000 after purchasing an additional 1,004 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in Bausch + Lomb in the fourth quarter valued at about $72,000. Commonwealth Equity Services LLC acquired a new stake in Bausch + Lomb during the 4th quarter valued at approximately $181,000. Alpine Global Management LLC purchased a new stake in Bausch + Lomb during the 4th quarter worth approximately $181,000. Finally, Covestor Ltd acquired a new position in shares of Bausch + Lomb in the 4th quarter valued at approximately $188,000. 11.07% of the stock is owned by institutional investors and hedge funds.

Bausch + Lomb Price Performance

NYSE BLCO traded up $0.06 on Thursday, reaching $11.46. 113,347 shares of the stock traded hands, compared to its average volume of 648,130. The firm's fifty day simple moving average is $13.63 and its 200 day simple moving average is $16.72. Bausch + Lomb Co. has a 12 month low of $10.45 and a 12 month high of $21.69. The company has a market cap of $4.05 billion, a price-to-earnings ratio of -12.59, a P/E/G ratio of 0.85 and a beta of 0.58. The company has a quick ratio of 1.01, a current ratio of 1.60 and a debt-to-equity ratio of 0.72.

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

Analysts Set New Price Targets

BLCO has been the subject of a number of research analyst reports. Citigroup dropped their price target on shares of Bausch + Lomb from $14.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Bank of America cut their target price on shares of Bausch + Lomb from $18.00 to $17.00 and set an "underperform" rating on the stock in a research note on Thursday, February 20th. Morgan Stanley decreased their price target on Bausch + Lomb from $18.00 to $12.00 and set an "equal weight" rating for the company in a research note on Tuesday. Evercore ISI cut their price objective on Bausch + Lomb from $19.00 to $15.50 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Wells Fargo & Company decreased their target price on Bausch + Lomb from $15.00 to $12.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. One 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, the stock has a consensus rating of "Hold" and a consensus target price of $15.50.

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.