Allianz Asset Management GmbH Purchases 444,000 Shares of Bausch + Lomb Corporation $BLCO

Allianz Asset Management GmbH lifted its stake in shares of Bausch + Lomb Corporation (NYSE:BLCO) by 136.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 769,000 shares of the company’s stock after acquiring an additional 444,000 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.22% of Bausch + Lomb worth $10,005,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BLCO. Deutsche Bank AG purchased a new position in shares of Bausch + Lomb during the first quarter worth approximately $50,750,000. Alberta Investment Management Corp increased its position in shares of Bausch + Lomb by 8.6% during the first quarter. Alberta Investment Management Corp now owns 3,266,193 shares of the company’s stock worth $47,360,000 after acquiring an additional 258,000 shares during the period. Clearline Capital LP increased its position in shares of Bausch + Lomb by 38.2% during the first quarter. Clearline Capital LP now owns 893,790 shares of the company’s stock worth $12,960,000 after acquiring an additional 247,149 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Bausch + Lomb by 428.7% during the first quarter. Goldman Sachs Group Inc. now owns 299,671 shares of the company’s stock worth $4,345,000 after acquiring an additional 242,993 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Bausch + Lomb during the first quarter worth approximately $2,119,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

Bausch + Lomb Price Performance

NYSE BLCO opened at $15.66 on Wednesday. The firm’s fifty day simple moving average is $14.86 and its two-hundred day simple moving average is $13.37. The company has a current ratio of 1.55, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. Bausch + Lomb Corporation has a 12-month low of $10.45 and a 12-month high of $20.94. The firm has a market capitalization of $5.55 billion, a P/E ratio of -20.08, a P/E/G ratio of 1.72 and a beta of 0.63.

Bausch + Lomb (NYSE:BLCO) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. Bausch + Lomb had a negative net margin of 5.58% and a positive return on equity of 2.33%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the company earned $0.13 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Bausch + Lomb has set its FY 2025 guidance at EPS. Analysts forecast that Bausch + Lomb Corporation will post 0.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of Bausch + Lomb from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 31st. HC Wainwright lifted their price objective on shares of Bausch + Lomb from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Zacks Research raised shares of Bausch + Lomb to a “hold” rating in a report on Tuesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Bausch + Lomb in a report on Wednesday, October 8th. Finally, Morgan Stanley lifted their price objective on shares of Bausch + Lomb from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Friday, August 1st. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $15.70.

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.