Tang Capital Management LLC Purchases 100,000 Shares of Bausch + Lomb Co. (NYSE:BLCO)

Tang Capital Management LLC grew its position in shares of Bausch + Lomb Co. (NYSE:BLCO) by 28.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 450,000 shares of the company’s stock after buying an additional 100,000 shares during the quarter. Tang Capital Management LLC owned 0.13% of Bausch + Lomb worth $8,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in shares of Bausch + Lomb by 68.3% during the 4th quarter. Blue Trust Inc. now owns 2,474 shares of the company’s stock valued at $48,000 after buying an additional 1,004 shares during the period. XTX Topco Ltd increased its position in Bausch + Lomb by 25.4% in the fourth quarter. XTX Topco Ltd now owns 20,077 shares of the company’s stock worth $363,000 after buying an additional 4,065 shares in the last quarter. Fore Capital LLC increased its position in Bausch + Lomb by 9.5% in the fourth quarter. Fore Capital LLC now owns 57,614 shares of the company’s stock worth $1,041,000 after buying an additional 5,000 shares in the last quarter. Barclays PLC increased its position in Bausch + Lomb by 1.8% in the fourth quarter. Barclays PLC now owns 305,804 shares of the company’s stock worth $5,523,000 after buying an additional 5,304 shares in the last quarter. Finally, Commonwealth Equity Services LLC purchased a new stake in Bausch + Lomb in the fourth quarter worth about $181,000. 11.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BLCO has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price target on Bausch + Lomb from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, April 3rd. Citigroup cut their target price on Bausch + Lomb from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Royal Bank of Canada cut their target price on Bausch + Lomb from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Friday, April 4th. Bank of America cut their target price on Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating for the company in a research report on Thursday, February 20th. Finally, Morgan Stanley cut their target price on Bausch + Lomb from $18.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Bausch + Lomb has an average rating of “Hold” and an average target price of $15.50.

Bausch + Lomb Stock Performance

NYSE BLCO opened at $11.77 on Friday. The stock has a market capitalization of $4.16 billion, a PE ratio of -12.93, a P/E/G ratio of 0.85 and a beta of 0.58. The business has a 50 day simple moving average of $13.03 and a two-hundred day simple moving average of $16.26. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.60 and a quick ratio of 1.01. Bausch + Lomb Co. has a 1-year low of $10.45 and a 1-year high of $21.69.

Bausch + Lomb (NYSE:BLCO) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.10). The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Bausch + Lomb had a negative net margin of 6.62% and a positive return on equity of 3.35%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 EPS. On average, research analysts predict that Bausch + Lomb Co. will post 0.74 EPS for the current fiscal year.

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.