Raymond James Financial Inc. Invests $2.84 Million in Bausch + Lomb Co. (NYSE:BLCO)

Raymond James Financial Inc. acquired a new stake in Bausch + Lomb Co. (NYSE:BLCO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 157,454 shares of the company's stock, valued at approximately $2,844,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Blue Trust Inc. grew its holdings in shares of Bausch + Lomb by 68.3% during the 4th quarter. Blue Trust Inc. now owns 2,474 shares of the company's stock worth $48,000 after purchasing an additional 1,004 shares during the period. State Street Corp grew its stake in Bausch + Lomb by 5.6% during the third quarter. State Street Corp now owns 28,450 shares of the company's stock worth $549,000 after buying an additional 1,510 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Bausch + Lomb in the fourth quarter worth $72,000. Fore Capital LLC raised its stake in shares of Bausch + Lomb by 9.5% in the 4th quarter. Fore Capital LLC now owns 57,614 shares of the company's stock valued at $1,041,000 after acquiring an additional 5,000 shares during the period. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Bausch + Lomb during the 4th quarter valued at $181,000. Hedge funds and other institutional investors own 11.07% of the company's stock.

Bausch + Lomb Stock Performance

Shares of NYSE BLCO traded up $0.03 during trading on Thursday, reaching $11.59. The stock had a trading volume of 1,950,902 shares, compared to its average volume of 647,590. The firm's 50 day moving average price is $14.08 and its two-hundred day moving average price is $17.04. Bausch + Lomb Co. has a one year low of $10.45 and a one year high of $21.69. The stock has a market cap of $4.10 billion, a PE ratio of -12.74, a P/E/G ratio of 0.85 and a beta of 0.54. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.60.

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). Bausch + Lomb had a positive return on equity of 3.35% and a negative net margin of 6.62%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the company posted $0.07 earnings per share. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. On average, research analysts forecast that Bausch + Lomb Co. will post 0.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on BLCO shares. Bank of America cut their price objective on Bausch + Lomb from $18.00 to $17.00 and set an "underperform" rating on the stock in a research report on Thursday, February 20th. Stifel Nicolaus reduced their target price 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. Royal Bank of Canada lowered their price target on shares of Bausch + Lomb from $18.00 to $17.00 and set an "outperform" rating for the company in a report on Friday, April 4th. Citigroup dropped their price target on shares of Bausch + Lomb from $14.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday. Finally, Needham & Company LLC restated a "hold" rating on shares of Bausch + Lomb in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Bausch + Lomb has an average rating of "Hold" and a consensus target price of $16.86.

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.