Deutsche Bank AG Buys New Shares in Bausch + Lomb Corporation (NYSE:BLCO)

Deutsche Bank AG acquired a new stake in Bausch + Lomb Corporation (NYSE:BLCO) during the 1st quarter, Holdings Channel reports. The firm acquired 3,500,000 shares of the company’s stock, valued at approximately $50,750,000.

Other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD purchased a new position in Bausch + Lomb in the 4th quarter worth approximately $14,122,000. King Street Capital Management L.P. lifted its position in shares of Bausch + Lomb by 55.2% in the fourth quarter. King Street Capital Management L.P. now owns 1,136,321 shares of the company’s stock worth $20,522,000 after buying an additional 404,256 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of Bausch + Lomb in the first quarter worth about $4,712,000. Brevan Howard Capital Management LP purchased a new stake in shares of Bausch + Lomb during the 4th quarter worth approximately $5,385,000. Finally, Alberta Investment Management Corp raised its stake in Bausch + Lomb by 8.6% during the first quarter. Alberta Investment Management Corp now owns 3,266,193 shares of the company’s stock valued at $47,360,000 after purchasing an additional 258,000 shares in the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. HC Wainwright upped their price target on shares of Bausch + Lomb from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Evercore ISI upped their target price on shares of Bausch + Lomb from $15.50 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Citigroup upped their price objective on Bausch + Lomb from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, July 9th. Morgan Stanley upped their price objective on Bausch + Lomb from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Friday, August 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.56.

Insider Buying and Selling

In related news, CEO Brent L. Saunders purchased 22,000 shares of Bausch + Lomb stock in a transaction that occurred on Thursday, May 22nd. The shares were bought at an average price of $11.28 per share, with a total value of $248,160.00. Following the purchase, the chief executive officer directly owned 719,156 shares of the company’s stock, valued at approximately $8,112,079.68. This represents a 3.16% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is owned by corporate insiders.

Bausch + Lomb Trading Up 0.1%

Shares of NYSE BLCO opened at $13.66 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 1.55. The business’s 50 day moving average price is $13.18 and its 200-day moving average price is $13.73. Bausch + Lomb Corporation has a fifty-two week low of $10.45 and a fifty-two week high of $21.69. The company has a market cap of $4.83 billion, a price-to-earnings ratio of -17.51, a PEG ratio of 1.39 and a beta of 0.62.

Bausch + Lomb (NYSE:BLCO) last released its earnings results on Wednesday, July 30th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Bausch + Lomb had a positive return on equity of 2.33% and a negative net margin of 5.58%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the firm posted $0.13 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts expect that Bausch + Lomb Corporation will post 0.74 earnings per share for the current year.

About Bausch + Lomb

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.