ExodusPoint Capital Management LP Reduces Stock Holdings in Bausch + Lomb Co. (NYSE:BLCO)

ExodusPoint Capital Management LP cut its holdings in Bausch + Lomb Co. (NYSE:BLCO) by 60.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 366,721 shares of the company’s stock after selling 557,760 shares during the quarter. ExodusPoint Capital Management LP owned about 0.10% of Bausch + Lomb worth $6,623,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC acquired a new position in Bausch + Lomb in the 3rd quarter valued at about $5,797,000. Quadrature Capital Ltd acquired a new position in shares of Bausch + Lomb in the third quarter valued at approximately $526,000. Janus Henderson Group PLC acquired a new position in shares of Bausch + Lomb in the third quarter valued at approximately $957,000. King Street Capital Management L.P. purchased a new stake in Bausch + Lomb during the 3rd quarter worth approximately $14,122,000. Finally, HighTower Advisors LLC lifted its holdings in Bausch + Lomb by 14.7% during the 3rd quarter. HighTower Advisors LLC now owns 24,661 shares of the company’s stock worth $476,000 after buying an additional 3,164 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

Bausch + Lomb Stock Down 7.2 %

BLCO stock opened at $12.05 on Friday. The company’s 50 day moving average is $15.88 and its two-hundred day moving average is $17.98. Bausch + Lomb Co. has a twelve month low of $11.94 and a twelve month high of $21.69. 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 market cap of $4.25 billion, a P/E ratio of -13.24, a PEG ratio of 0.85 and a beta of 0.54.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. Bausch + Lomb had a negative net margin of 6.62% and a positive return on equity of 3.35%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the business earned $0.24 EPS. Bausch + Lomb’s revenue for the quarter was up 9.1% compared to the same quarter last year. Research analysts expect that Bausch + Lomb Co. will post 0.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Citigroup lowered Bausch + Lomb from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $24.00 to $22.00 in a research report on Wednesday, December 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research report on Thursday, February 20th. Bank of America lowered their price objective on Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating for the company in a research report on Thursday, February 20th. Royal Bank of Canada reduced their target price on shares of Bausch + Lomb from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $15.00 price target (down previously from $24.00) on shares of Bausch + Lomb in a report on Friday, March 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $18.82.

Bausch + Lomb 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.