Fore Capital LLC Raises Position in Bausch + Lomb Co. (NYSE:BLCO)

Fore Capital LLC grew its position in shares of Bausch + Lomb Co. (NYSE:BLCO) by 90.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,180 shares of the company’s stock after buying an additional 20,000 shares during the quarter. Fore Capital LLC’s holdings in Bausch + Lomb were worth $612,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in Bausch + Lomb by 14,052.2% in the 2nd quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock worth $47,000 after buying an additional 3,232 shares in the last quarter. Renaissance Capital LLC grew its stake in shares of Bausch + Lomb by 3.0% in the first quarter. Renaissance Capital LLC now owns 23,076 shares of the company’s stock worth $399,000 after acquiring an additional 669 shares during the period. Quadrature Capital Ltd grew its stake in shares of Bausch + Lomb by 75.8% in the fourth quarter. Quadrature Capital Ltd now owns 48,258 shares of the company’s stock worth $824,000 after acquiring an additional 20,803 shares during the period. Jump Financial LLC raised its holdings 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 purchasing an additional 72,030 shares during the last quarter. Finally, Allianz Asset Management GmbH bought a new position in Bausch + Lomb during the fourth quarter valued at approximately $1,706,000. Institutional investors own 11.07% of the company’s stock.

Bausch + Lomb Trading Up 1.1 %

Bausch + Lomb stock opened at $15.93 on Wednesday. Bausch + Lomb Co. has a 12-month low of $13.16 and a 12-month high of $17.92. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of -16.59, a P/E/G ratio of 1.48 and a beta of 0.46. The firm has a 50 day moving average of $16.03 and a 200 day moving average of $15.62. The company has a current ratio of 1.65, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. Bausch + Lomb had a negative net margin of 10.15% and a positive return on equity of 3.36%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. As a group, research analysts predict that Bausch + Lomb Co. will post 0.6 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Bausch + Lomb in a research report on Thursday, August 1st. Evercore lifted their price objective on Bausch + Lomb from $15.50 to $17.00 and gave the stock an “in-line” rating in a report on Thursday, August 1st. Evercore ISI increased their target price on Bausch + Lomb from $15.00 to $15.50 and gave the company an “in-line” rating in a report on Tuesday, July 2nd. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, August 1st. 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 for the company. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bausch + Lomb currently has an average rating of “Moderate Buy” and an average price target of $18.59.

Insider Buying and Selling at Bausch + Lomb

In other Bausch + Lomb news, CEO Brent L. Saunders purchased 32,250 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $15.66 per share, with a total value of $505,035.00. Following the acquisition, the chief executive officer now owns 595,169 shares in the company, valued at $9,320,346.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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.