Handelsbanken Fonder AB Makes New Investment in Bausch + Lomb Corporation $BLCO

Handelsbanken Fonder AB acquired a new stake in shares of Bausch + Lomb Corporation (NYSE:BLCO) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 15,500 shares of the company’s stock, valued at approximately $202,000.

A number of other hedge funds have also recently modified their holdings of BLCO. Ridgewood Investments LLC acquired a new stake in Bausch + Lomb during the second quarter worth about $26,000. Blue Trust Inc. boosted its position in Bausch + Lomb by 58.5% in the 2nd quarter. Blue Trust Inc. now owns 4,502 shares of the company’s stock worth $59,000 after purchasing an additional 1,662 shares in the last quarter. FNY Investment Advisers LLC grew its stake in shares of Bausch + Lomb by 93.8% during the 2nd quarter. FNY Investment Advisers LLC now owns 6,200 shares of the company’s stock worth $80,000 after purchasing an additional 3,000 shares during the period. National Bank of Canada FI grew its stake in shares of Bausch + Lomb by 101.7% during the 1st quarter. National Bank of Canada FI now owns 6,719 shares of the company’s stock worth $97,000 after purchasing an additional 3,387 shares during the period. Finally, Gruss & Co. LLC purchased a new position in shares of Bausch + Lomb during the 2nd quarter valued at approximately $130,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Bausch + Lomb in a report on Wednesday, October 8th. Citigroup reissued a “neutral” rating on shares of Bausch + Lomb in a research note on Tuesday, October 7th. Evercore ISI raised their target price on Bausch + Lomb from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. JPMorgan Chase & Co. upped their price target on Bausch + Lomb from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, Wall Street Zen upgraded Bausch + Lomb from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Bausch + Lomb presently has an average rating of “Hold” and a consensus target price of $16.58.

Bausch + Lomb Stock Performance

BLCO opened at $16.19 on Monday. Bausch + Lomb Corporation has a twelve month low of $10.45 and a twelve month high of $20.71. The firm has a market capitalization of $5.73 billion, a PE ratio of -18.61, a PEG ratio of 1.40 and a beta of 0.62. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. The firm’s 50-day moving average price is $15.26 and its 200 day moving average price is $14.09.

Bausch + Lomb (NYSE:BLCO) last released its earnings results on Wednesday, October 29th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.28 billion. Bausch + Lomb had a negative net margin of 6.13% and a positive return on equity of 2.42%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the company posted $0.13 EPS. Bausch + Lomb has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Bausch + Lomb Corporation will post 0.74 EPS for the current fiscal 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.