King Street Capital Management L.P. Makes New $14.12 Million Investment in Bausch + Lomb Co. (NYSE:BLCO)

King Street Capital Management L.P. purchased a new stake in shares of Bausch + Lomb Co. (NYSE:BLCO) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 732,065 shares of the company’s stock, valued at approximately $14,122,000. Bausch + Lomb comprises about 9.3% of King Street Capital Management L.P.’s portfolio, making the stock its 5th biggest position.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. lifted its holdings in shares of Bausch + Lomb by 14,052.2% in 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 during the last quarter. Squarepoint Ops LLC purchased a new stake in Bausch + Lomb in the second quarter valued at approximately $173,000. Polar Asset Management Partners Inc. acquired a new position in Bausch + Lomb during the third quarter worth $289,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Bausch + Lomb during the third quarter worth $289,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Bausch + Lomb in the third quarter valued at $302,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Bausch + Lomb Trading Up 3.1 %

BLCO opened at $20.67 on Wednesday. The firm’s fifty day moving average is $19.90 and its two-hundred day moving average is $17.46. Bausch + Lomb Co. has a twelve month low of $13.16 and a twelve month high of $21.69. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.95 and a current ratio of 1.57. The firm has a market cap of $7.28 billion, a PE ratio of -19.69, a price-to-earnings-growth ratio of 1.93 and a beta of 0.43.

Bausch + Lomb (NYSE:BLCO) last released its earnings results 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. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. Bausch + Lomb had a positive return on equity of 3.17% and a negative net margin of 7.86%. The company’s revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.22 EPS. Equities research analysts anticipate that Bausch + Lomb Co. will post 0.6 EPS for the current year.

Wall Street Analyst Weigh In

BLCO has been the subject of a number of recent research reports. Evercore ISI upgraded Bausch + Lomb from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $19.00 to $25.00 in a report on Tuesday, October 15th. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a report on Thursday, October 31st. Morgan Stanley cut shares of Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price objective on the stock. in a report on Monday, December 2nd. Wells Fargo & Company lifted their price target on Bausch + Lomb from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus increased their price objective on Bausch + Lomb from $16.00 to $19.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Bausch + Lomb currently has an average rating of “Hold” and a consensus target price of $20.82.

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.