Gabelli Funds LLC boosted its stake in Bausch + Lomb Co. (NYSE:BLCO – Get Rating) by 9.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 164,027 shares of the company’s stock after buying an additional 14,027 shares during the quarter. Gabelli Funds LLC’s holdings in Bausch + Lomb were worth $2,544,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quinn Opportunity Partners LLC purchased a new stake in Bausch + Lomb in the 3rd quarter worth approximately $407,000. Mangrove Partners acquired a new position in shares of Bausch + Lomb during the 3rd quarter worth $12,008,000. Clark Estates Inc. NY increased its stake in shares of Bausch + Lomb by 105.6% during the 4th quarter. Clark Estates Inc. NY now owns 515,000 shares of the company’s stock worth $7,988,000 after purchasing an additional 264,500 shares during the last quarter. Wolverine Asset Management LLC acquired a new position in shares of Bausch + Lomb during the 4th quarter worth $977,000. Finally, River Road Asset Management LLC increased its stake in shares of Bausch + Lomb by 5.6% during the 4th quarter. River Road Asset Management LLC now owns 1,652,166 shares of the company’s stock worth $25,625,000 after purchasing an additional 87,776 shares during the last quarter. Hedge funds and other institutional investors own 12.44% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently commented on BLCO shares. HC Wainwright increased their price target on shares of Bausch + Lomb from $19.00 to $22.00 in a research note on Friday, May 19th. Needham & Company LLC assumed coverage on shares of Bausch + Lomb in a research note on Thursday, March 9th. They set a “hold” rating on the stock. Barclays raised their target price on shares of Bausch + Lomb from $17.00 to $18.00 in a research note on Friday, May 5th. Morgan Stanley raised their target price on shares of Bausch + Lomb from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, February 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Bausch + Lomb from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, February 23rd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.13.
Bausch + Lomb Price Performance
Bausch + Lomb (NYSE:BLCO – Get Rating) last released its quarterly earnings data on Wednesday, May 3rd. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The business had revenue of $931.00 million for the quarter, compared to the consensus estimate of $895.41 million. Bausch + Lomb had a positive return on equity of 4.64% and a negative net margin of 2.73%. As a group, equities research analysts anticipate that Bausch + Lomb Co. will post 0.77 earnings per share for the current fiscal year.
Bausch + Lomb Profile
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.
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