Invenomic Capital Management LP Takes $6.82 Million Position in Bausch + Lomb Co. (NYSE:BLCO)

Invenomic Capital Management LP bought a new stake in shares of Bausch + Lomb Co. (NYSE:BLCO) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 394,067 shares of the company’s stock, valued at approximately $6,817,000. Invenomic Capital Management LP owned approximately 0.11% of Bausch + Lomb at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BLCO. Fore Capital LLC acquired a new stake in shares of Bausch + Lomb during the first quarter valued at about $384,000. Renaissance Capital LLC grew its stake in shares of Bausch + Lomb by 3.0% during the first quarter. Renaissance Capital LLC now owns 23,076 shares of the company’s stock valued at $399,000 after acquiring an additional 669 shares in the last quarter. Quadrature Capital Ltd grew its stake in shares of Bausch + Lomb by 75.8% during the fourth quarter. Quadrature Capital Ltd now owns 48,258 shares of the company’s stock valued at $824,000 after acquiring an additional 20,803 shares in the last quarter. Jump Financial LLC grew its stake in shares of Bausch + Lomb by 478.0% during the fourth quarter. Jump Financial LLC now owns 87,100 shares of the company’s stock valued at $1,486,000 after acquiring an additional 72,030 shares in the last quarter. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Bausch + Lomb during the fourth quarter valued at about $1,706,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BLCO shares. Evercore ISI increased their price target on shares of Bausch + Lomb from $15.00 to $15.50 and gave the stock an “in-line” rating in a research report on Tuesday, July 2nd. Evercore reduced their price target on shares of Bausch + Lomb from $17.00 to $15.00 and set an “in-line” rating on the stock in a research report on Thursday, May 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research report on Wednesday, May 1st. Royal Bank of Canada reduced their price target on shares of Bausch + Lomb from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Finally, Raymond James started coverage on shares of Bausch + Lomb in a research report on Wednesday, July 10th. They set an “outperform” rating and a $19.00 price target on the stock. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.95.

Bausch + Lomb Stock Performance

NYSE BLCO traded up $0.17 during trading hours on Tuesday, reaching $16.87. The company’s stock had a trading volume of 1,257,164 shares, compared to its average volume of 512,340. The company has a current ratio of 1.70, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68. The business has a 50-day simple moving average of $15.36 and a 200 day simple moving average of $15.31. Bausch + Lomb Co. has a 52 week low of $13.16 and a 52 week high of $20.30. The stock has a market cap of $5.94 billion, a PE ratio of -17.33, a PEG ratio of 1.63 and a beta of 0.48.

Bausch + Lomb (NYSE:BLCO) last issued its earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. Bausch + Lomb had a positive return on equity of 3.60% and a negative net margin of 7.81%. The business’s revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS. Equities research analysts predict that Bausch + Lomb Co. will post 0.63 earnings per share for the current fiscal year.

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.