Cinctive Capital Management LP Purchases Shares of 45,102 Bausch + Lomb Co. (NYSE:BLCO)

Cinctive Capital Management LP acquired a new position in shares of Bausch + Lomb Co. (NYSE:BLCO) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 45,102 shares of the company’s stock, valued at approximately $870,000.

A number of other large investors have also recently made changes to their positions in the company. River Road Asset Management LLC grew its holdings in Bausch + Lomb by 4.4% during the 3rd quarter. River Road Asset Management LLC now owns 2,020,414 shares of the company’s stock worth $38,974,000 after acquiring an additional 85,987 shares in the last quarter. Whitebox Advisors LLC boosted its holdings in Bausch + Lomb by 28.2% in the second quarter. Whitebox Advisors LLC now owns 1,545,946 shares of the company’s stock valued at $22,447,000 after purchasing an additional 339,643 shares in the last quarter. Clearline Capital LP increased its stake in Bausch + Lomb by 136.8% in the second quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock valued at $10,339,000 after purchasing an additional 411,404 shares during the last quarter. Point72 Europe London LLP raised its holdings in Bausch + Lomb by 28.9% during the second quarter. Point72 Europe London LLP now owns 653,492 shares of the company’s stock worth $9,489,000 after purchasing an additional 146,583 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of Bausch + Lomb by 31.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 647,156 shares of the company’s stock worth $9,397,000 after buying an additional 153,000 shares during the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Royal Bank of Canada increased their target price on shares of Bausch + Lomb from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. HC Wainwright raised their price target on Bausch + Lomb from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a report on Thursday, October 31st. Citigroup raised their target price on Bausch + Lomb from $20.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Evercore ISI raised shares of Bausch + Lomb from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $19.00 to $25.00 in a research note on Tuesday, October 15th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.00.

Bausch + Lomb Stock Up 0.9 %

BLCO stock opened at $19.64 on Wednesday. Bausch + Lomb Co. has a 12 month low of $13.16 and a 12 month high of $21.69. The company has a current ratio of 1.57, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69. The company’s 50 day simple moving average is $19.79 and its 200-day simple moving average is $17.24.

Bausch + Lomb (NYSE:BLCO) last released its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.17%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm earned $0.22 EPS. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. On average, sell-side analysts anticipate that Bausch + Lomb Co. will post 0.6 EPS for the current year.

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.