Clark Estates Inc. NY Purchases New Position in Bausch + Lomb Co. (NYSE:BLCO)

Posted by Defense World Staff on Mar 9th, 2023

Clark Estates Inc. NY purchased a new stake in Bausch + Lomb Co. (NYSE:BLCO – Get Rating) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 250,500 shares of the company’s stock, valued at approximately $3,843,000. Bausch + Lomb accounts for about 0.8% of Clark Estates Inc. NY’s portfolio, making the stock its 28th biggest position. Clark Estates Inc. NY owned about 0.07% of Bausch + Lomb at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. UBS Asset Management Americas Inc. bought a new stake in Bausch + Lomb in the 2nd quarter valued at about $66,656,000. Icahn Carl C bought a new position in Bausch + Lomb during the 2nd quarter worth $53,340,000. Eminence Capital LP acquired a new stake in shares of Bausch + Lomb during the 2nd quarter worth $42,487,000. River Road Asset Management LLC increased its position in shares of Bausch + Lomb by 1,007.4% in the third quarter. River Road Asset Management LLC now owns 1,564,390 shares of the company’s stock worth $23,998,000 after purchasing an additional 1,423,129 shares during the period. Finally, Laurion Capital Management LP acquired a new position in Bausch + Lomb in the second quarter valued at about $16,154,000. 12.44% of the stock is currently owned by institutional investors and hedge funds.

Bausch + Lomb Trading Down 2.3 %

Shares of BLCO stock opened at $16.74 on Thursday. The company has a market cap of $5.86 billion and a P/E ratio of 837.42. Bausch + Lomb Co. has a fifty-two week low of $12.20 and a fifty-two week high of $20.20. The stock has a 50 day simple moving average of $17.11 and a two-hundred day simple moving average of $15.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.65.

Wall Street Analysts Forecast Growth

Several research firms have commented on BLCO. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 target price on shares of Bausch + Lomb in a report on Thursday, February 23rd. HC Wainwright raised their target price on Bausch + Lomb from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, February 24th. Morgan Stanley boosted their price target on Bausch + Lomb from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, February 23rd. JPMorgan Chase & Co. upped their price objective on Bausch + Lomb from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, February 23rd. Finally, Barclays started coverage on Bausch + Lomb in a research note on Wednesday, December 21st. They set an “equal weight” rating and a $17.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.50.

Bausch + Lomb Company Profile

(Get Rating)

Bausch + Lomb Corporation operates as an eye health company worldwide. It operates through three segments: Vision Care/Consumer Health Care, Ophthalmic Pharmaceuticals, and Surgical. The Vision Care/Consumer Health 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, over-the-counter eye drops, eye vitamins, and mineral supplements that address various conditions comprising eye allergies, conjunctivitis, and dry eye.