Point72 Asset Management L.P. Acquires 153,000 Shares of Bausch + Lomb Co. (NYSE:BLCO)

Point72 Asset Management L.P. increased its stake in shares of Bausch + Lomb Co. (NYSE:BLCO) by 31.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 647,156 shares of the company’s stock after acquiring an additional 153,000 shares during the quarter. Point72 Asset Management L.P. owned about 0.18% of Bausch + Lomb worth $9,397,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Clearline Capital LP increased its stake in Bausch + Lomb by 136.8% during the second quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock valued at $10,339,000 after acquiring an additional 411,404 shares during the period. Point72 Europe London LLP increased its position in shares of Bausch + Lomb by 28.9% during the second 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. Squarepoint Ops LLC bought a new stake in shares of Bausch + Lomb during the second quarter valued at approximately $173,000. Whitebox Advisors LLC raised its stake in shares of 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. Finally, Cubist Systematic Strategies LLC bought a new position in Bausch + Lomb in the second quarter worth $580,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BLCO has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Bausch + Lomb from $14.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Evercore ISI upped their target price on shares of Bausch + Lomb from $15.00 to $15.50 and gave the company an “in-line” rating in a research note on Tuesday, July 2nd. Evercore increased their price target on shares of Bausch + Lomb from $15.50 to $17.00 and gave the stock an “in-line” rating in a research report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Bausch + Lomb in a report on Thursday, August 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a report on Monday, September 16th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.14.

Bausch + Lomb Trading Up 1.7 %

Shares of NYSE BLCO opened at $19.27 on Tuesday. Bausch + Lomb Co. has a 1-year low of $13.16 and a 1-year high of $21.00. The company has a 50-day moving average of $16.75 and a two-hundred day moving average of $15.82. The company has a market cap of $6.78 billion, a PE ratio of -20.07, a P/E/G ratio of 1.81 and a beta of 0.46. 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 EPS for the quarter, meeting analysts’ consensus estimates of $0.13. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. Bausch + Lomb had a positive return on equity of 3.36% and a negative net margin of 10.15%. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period last year, the company earned $0.18 EPS. As a group, equities analysts expect that Bausch + Lomb Co. will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bausch + Lomb news, CEO Brent L. Saunders bought 32,250 shares of the company’s stock in a transaction on Monday, August 5th. The stock was bought at an average price of $15.66 per share, for a total transaction of $505,035.00. Following the transaction, the chief executive officer now owns 595,169 shares of the company’s stock, valued at approximately $9,320,346.54. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Bausch + Lomb Company 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.