Charles Schwab Investment Management Inc. Purchases 13,302 Shares of Bausch + Lomb Co. (NYSE:BLCO)

Charles Schwab Investment Management Inc. increased its position in Bausch + Lomb Co. (NYSE:BLCO) by 80.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,755 shares of the company’s stock after buying an additional 13,302 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Bausch + Lomb were worth $576,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BLCO. Blue Trust Inc. raised its holdings in shares of Bausch + Lomb by 14,052.2% during the 2nd quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock worth $47,000 after acquiring an additional 3,232 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Bausch + Lomb during the second quarter valued at $173,000. Cubist Systematic Strategies LLC bought a new position in Bausch + Lomb during the second quarter valued at $580,000. Fore Capital LLC grew its stake in shares of Bausch + Lomb by 90.2% in the 2nd quarter. Fore Capital LLC now owns 42,180 shares of the company’s stock worth $612,000 after buying an additional 20,000 shares in the last quarter. Finally, Renaissance Capital LLC increased its holdings in shares of Bausch + Lomb by 20.0% in the 3rd quarter. Renaissance Capital LLC now owns 43,560 shares of the company’s stock worth $840,000 after buying an additional 7,274 shares during the last quarter. 11.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BLCO. Bank of America reaffirmed an “underperform” rating and issued a $18.00 price target on shares of Bausch + Lomb in a report on Thursday, December 12th. Royal Bank of Canada raised their price objective on Bausch + Lomb from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus lifted their target price on Bausch + Lomb from $16.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Morgan Stanley lowered Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price target on the stock. in a report on Monday, December 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.58.

Bausch + Lomb Stock Down 3.2 %

Shares of BLCO opened at $18.24 on Thursday. The firm has a fifty day moving average price of $19.86 and a 200-day moving average price of $17.58. The company has a current ratio of 1.57, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $6.42 billion, a P/E ratio of -17.37, a P/E/G ratio of 1.74 and a beta of 0.43. Bausch + Lomb Co. has a 12-month low of $13.16 and a 12-month high of $21.69.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.17%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the business posted $0.22 EPS. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. Equities research analysts expect that Bausch + Lomb Co. will post 0.6 earnings per share for the current year.

Bausch + Lomb Company 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.