Cinctive Capital Management LP Has $1.75 Million Stock Position in Bausch + Lomb Co. (NYSE:BLCO)

Cinctive Capital Management LP increased its stake in shares of Bausch + Lomb Co. (NYSE:BLCO) by 114.4% in the fourth quarter, Holdings Channel reports. The firm owned 96,696 shares of the company’s stock after buying an additional 51,594 shares during the quarter. Cinctive Capital Management LP’s holdings in Bausch + Lomb were worth $1,746,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Blue Trust Inc. increased its position in Bausch + Lomb by 68.3% during the fourth quarter. Blue Trust Inc. now owns 2,474 shares of the company’s stock worth $48,000 after buying an additional 1,004 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in Bausch + Lomb during the fourth quarter worth about $72,000. Commonwealth Equity Services LLC acquired a new stake in shares of Bausch + Lomb during the 4th quarter worth approximately $181,000. Orion Portfolio Solutions LLC bought a new stake in Bausch + Lomb during the fourth quarter worth $225,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Bausch + Lomb in the 3rd quarter valued at $289,000. 11.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BLCO. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, February 20th. Citigroup downgraded shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $24.00 to $22.00 in a research note on Wednesday, December 11th. Royal Bank of Canada set a $18.00 target price on shares of Bausch + Lomb in a research note on Thursday, March 27th. HC Wainwright restated a “buy” rating and set a $23.00 price objective on shares of Bausch + Lomb in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $15.00 price target (down from $24.00) on shares of Bausch + Lomb in a research note on Friday, March 28th. One equities research 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 MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.91.

Bausch + Lomb Stock Performance

BLCO stock opened at $12.96 on Friday. The firm has a market cap of $4.57 billion, a PE ratio of -14.25, a price-to-earnings-growth ratio of 0.85 and a beta of 0.49. The company has a current ratio of 1.60, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72. The stock has a 50-day moving average price of $15.98 and a 200-day moving average price of $18.03. Bausch + Lomb Co. has a 1-year low of $12.00 and a 1-year high of $21.69.

Bausch + Lomb (NYSE:BLCO) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.26 billion. Bausch + Lomb had a positive return on equity of 3.35% and a negative net margin of 6.62%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 earnings per share. As a group, equities research analysts expect that Bausch + Lomb Co. 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.