Renaissance Capital LLC Raises Holdings in Bausch + Lomb Co. (NYSE:BLCO)

Renaissance Capital LLC raised its position in Bausch + Lomb Co. (NYSE:BLCO) by 116.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 94,182 shares of the company’s stock after purchasing an additional 50,622 shares during the period. Bausch + Lomb accounts for approximately 1.1% of Renaissance Capital LLC’s portfolio, making the stock its 23rd biggest holding. Renaissance Capital LLC’s holdings in Bausch + Lomb were worth $1,701,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in shares of Bausch + Lomb by 68.3% in 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 in the last quarter. FNY Investment Advisers LLC purchased a new position in Bausch + Lomb in the 4th quarter worth approximately $72,000. Squarepoint Ops LLC acquired a new position in shares of Bausch + Lomb during the 2nd quarter worth approximately $173,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Bausch + Lomb during the 3rd quarter worth approximately $289,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in shares of Bausch + Lomb in the third quarter valued at approximately $289,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BLCO. Royal Bank of Canada lowered their price objective on Bausch + Lomb from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Bank of America reissued an “underperform” rating and set a $18.00 price target on shares of Bausch + Lomb in a research report on Thursday, December 12th. Morgan Stanley cut shares of Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price objective for the company. in a research report on Monday, December 2nd. Stifel Nicolaus decreased their target price on shares of Bausch + Lomb from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. Finally, Evercore ISI upgraded shares of Bausch + Lomb from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $19.00 to $25.00 in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.25.

Bausch + Lomb Price Performance

Bausch + Lomb stock opened at $17.45 on Tuesday. The company has a fifty day simple moving average of $18.25 and a 200-day simple moving average of $18.16. The stock has a market cap of $6.15 billion, a P/E ratio of -16.61, a price-to-earnings-growth ratio of 2.30 and a beta of 0.46. Bausch + Lomb Co. has a 12-month low of $13.16 and a 12-month high of $21.69. The company has a current ratio of 1.57, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69.

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.