King Street Capital Management L.P. Has $20.52 Million Holdings in Bausch + Lomb Co. (NYSE:BLCO)

King Street Capital Management L.P. lifted its position in shares of Bausch + Lomb Co. (NYSE:BLCO) by 55.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,136,321 shares of the company’s stock after purchasing an additional 404,256 shares during the quarter. Bausch + Lomb comprises 3.1% of King Street Capital Management L.P.’s investment portfolio, making the stock its 5th biggest holding. King Street Capital Management L.P. owned approximately 0.32% of Bausch + Lomb worth $20,522,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of Bausch + Lomb by 68.3% during the fourth quarter. Blue Trust Inc. now owns 2,474 shares of the company’s stock valued at $48,000 after purchasing an additional 1,004 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Bausch + Lomb during the fourth quarter valued at $72,000. Commonwealth Equity Services LLC bought a new stake in Bausch + Lomb in the fourth quarter worth $181,000. Alpine Global Management LLC purchased a new stake in shares of Bausch + Lomb in the fourth quarter worth $181,000. Finally, Covestor Ltd bought a new position in shares of Bausch + Lomb during the fourth quarter valued at $188,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

Bausch + Lomb Price Performance

Shares of NYSE:BLCO opened at $11.23 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.60 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $3.97 billion, a PE ratio of -12.34, a price-to-earnings-growth ratio of 0.85 and a beta of 0.58. The firm’s 50 day moving average price is $13.45 and its 200-day moving average price is $16.57. Bausch + Lomb Co. has a twelve month low of $10.45 and a twelve month 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). Bausch + Lomb had a positive return on equity of 3.35% and a negative net margin of 6.62%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the business posted $0.07 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. Equities research analysts expect that Bausch + Lomb Co. will post 0.74 EPS for the current year.

Analyst Ratings Changes

BLCO has been the topic of a number of analyst reports. Bank of America cut their price objective on shares of Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating on the stock in a research report on Thursday, February 20th. Royal Bank of Canada cut their price target on shares of Bausch + Lomb from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Friday, April 4th. Stifel Nicolaus decreased their price objective on shares of Bausch + Lomb from $17.00 to $15.00 and set a “hold” rating for the company in a report on Thursday, April 3rd. HC Wainwright cut their target price on Bausch + Lomb from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Finally, Wells Fargo & Company decreased their price target on Bausch + Lomb from $15.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $15.50.

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.