Gordian Capital Singapore Pte Ltd Acquires Shares of 15,000 Bausch + Lomb Co. (NYSE:BLCO)

Gordian Capital Singapore Pte Ltd bought a new stake in Bausch + Lomb Co. (NYSE:BLCO) during the third quarter, Holdings Channel reports. The institutional investor bought 15,000 shares of the company’s stock, valued at approximately $289,000.

A number of other large investors also recently made changes to their positions in BLCO. Clearline Capital LP increased its holdings in shares of Bausch + Lomb by 136.8% in the 2nd 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 period. Whitebox Advisors LLC increased its holdings in shares of Bausch + Lomb by 28.2% in the 2nd 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 during the period. Point72 DIFC Ltd acquired a new position in shares of Bausch + Lomb in the 3rd quarter valued at about $4,331,000. Point72 Asset Management L.P. increased its holdings in shares of Bausch + Lomb by 31.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 647,156 shares of the company’s stock valued at $9,397,000 after purchasing an additional 153,000 shares during the period. Finally, Point72 Europe London LLP increased its holdings in shares of Bausch + Lomb by 28.9% in the 2nd quarter. Point72 Europe London LLP now owns 653,492 shares of the company’s stock valued at $9,489,000 after purchasing an additional 146,583 shares during the period. Institutional investors and hedge funds own 11.07% of the company’s stock.

Bausch + Lomb Price Performance

BLCO opened at $20.07 on Monday. Bausch + Lomb Co. has a 1-year low of $13.16 and a 1-year high of $21.69. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.57 and a quick ratio of 0.95. The business has a 50 day moving average of $19.86 and a 200-day moving average of $17.39.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. Bausch + Lomb had a positive return on equity of 3.17% and a negative net margin of 7.86%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the business earned $0.22 earnings per share. Bausch + Lomb’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, equities analysts expect that Bausch + Lomb Co. will post 0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BLCO. Royal Bank of Canada upped their target price on Bausch + Lomb from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a report on Thursday, October 31st. Evercore ISI upgraded Bausch + Lomb from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $19.00 to $25.00 in a report on Tuesday, October 15th. Morgan Stanley downgraded Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price objective on the stock. in a report on Monday, December 2nd. Finally, HC Wainwright increased their price objective on Bausch + Lomb from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Bausch + Lomb currently has an average rating of “Moderate Buy” and an average target price of $21.00.

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.