Cubist Systematic Strategies LLC Invests $580,000 in Bausch + Lomb Co. (NYSE:BLCO)

Cubist Systematic Strategies LLC purchased a new position in shares of Bausch + Lomb Co. (NYSE:BLCO) during the second quarter, HoldingsChannel reports. The firm purchased 39,916 shares of the company’s stock, valued at approximately $580,000.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in Bausch + Lomb by 14,052.2% during the 2nd quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock worth $47,000 after purchasing an additional 3,232 shares during the period. Fore Capital LLC acquired a new position in Bausch + Lomb during the first quarter worth $384,000. Renaissance Capital LLC raised its position in 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 in the last quarter. Quadrature Capital Ltd lifted its holdings in Bausch + Lomb by 75.8% in 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 during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Bausch + Lomb by 53.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 67,690 shares of the company’s stock worth $984,000 after purchasing an additional 23,714 shares in the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

Bausch + Lomb Trading Down 0.9 %

Shares of BLCO stock opened at $18.88 on Friday. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of -19.67, a PEG ratio of 1.81 and a beta of 0.48. The company has a current ratio of 1.65, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $16.92 and a 200 day moving average price of $15.88. Bausch + Lomb Co. has a twelve month low of $13.16 and a twelve month high of $21.00.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.13. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. Bausch + Lomb had a negative net margin of 10.15% and a positive return on equity of 3.36%. The company’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 earnings per share. Research analysts forecast that Bausch + Lomb Co. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BLCO has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a research note on Monday, September 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 price target on shares of Bausch + Lomb in a research report on Thursday, August 1st. Evercore upped their price target on Bausch + Lomb from $15.50 to $17.00 and gave the stock an “in-line” rating in a report on Thursday, August 1st. Stifel Nicolaus raised their price objective on Bausch + Lomb from $16.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Bausch + Lomb from $14.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Bausch + Lomb currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.45.

Insider Transactions at Bausch + Lomb

In other Bausch + Lomb news, CEO Brent L. Saunders bought 32,250 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $15.66 per share, for a total transaction of $505,035.00. Following the completion of the purchase, 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 filing with the SEC, which is available through the SEC website.

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.