Oaktree Capital Management LP Makes New Investment in Bausch + Lomb Corporation $BLCO

Oaktree Capital Management LP purchased a new position in shares of Bausch + Lomb Corporation (NYSE:BLCO) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,521,245 shares of the company’s stock, valued at approximately $32,801,000. Bausch + Lomb comprises 0.6% of Oaktree Capital Management LP’s investment portfolio, making the stock its 29th biggest position. Oaktree Capital Management LP owned approximately 0.71% of Bausch + Lomb as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. lifted its position in shares of Bausch + Lomb by 428.7% in the first quarter. Goldman Sachs Group Inc. now owns 299,671 shares of the company’s stock worth $4,345,000 after buying an additional 242,993 shares during the last quarter. Vident Advisory LLC bought a new position in shares of Bausch + Lomb in the 1st quarter valued at approximately $289,000. Clearline Capital LP raised its stake in shares of Bausch + Lomb by 38.2% in the 1st quarter. Clearline Capital LP now owns 893,790 shares of the company’s stock valued at $12,960,000 after acquiring an additional 247,149 shares in the last quarter. Handelsbanken Fonder AB acquired a new stake in Bausch + Lomb in the 2nd quarter worth approximately $202,000. Finally, Nexpoint Asset Management L.P. boosted its position in Bausch + Lomb by 147.6% during the first quarter. Nexpoint Asset Management L.P. now owns 50,158 shares of the company’s stock worth $727,000 after purchasing an additional 29,900 shares during the period. Institutional investors and hedge funds own 11.07% of the company’s stock.

Analyst Upgrades and Downgrades

BLCO has been the topic of a number of recent analyst reports. Barclays lifted their price target on shares of Bausch + Lomb from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, October 31st. Zacks Research upgraded shares of Bausch + Lomb to a “hold” rating in a research note on Tuesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bausch + Lomb in a report on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating and set a $19.00 price target (up from $18.00) on shares of Bausch + Lomb in a report on Thursday, October 30th. Finally, Citigroup reiterated a “neutral” rating on shares of Bausch + Lomb in a research note on Tuesday, October 7th. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $16.58.

Bausch + Lomb Stock Performance

NYSE BLCO opened at $16.86 on Friday. The company’s fifty day moving average is $15.41 and its two-hundred day moving average is $14.20. Bausch + Lomb Corporation has a 52-week low of $10.45 and a 52-week high of $20.71. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.51 and a quick ratio of 0.98. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of -19.37, a P/E/G ratio of 1.46 and a beta of 0.62.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Bausch + Lomb had a negative net margin of 6.13% and a positive return on equity of 2.42%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the business earned $0.13 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities research analysts forecast that Bausch + Lomb Corporation will post 0.74 EPS 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.