Ratan Capital Management LP lessened its stake in Bausch + Lomb Corporation (NYSE:BLCO – Free Report) by 28.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 383,710 shares of the company’s stock after selling 153,058 shares during the period. Bausch + Lomb comprises approximately 2.1% of Ratan Capital Management LP’s portfolio, making the stock its 15th largest position. Ratan Capital Management LP owned 0.11% of Bausch + Lomb worth $6,354,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oaktree Capital Management LP boosted its position in shares of Bausch + Lomb by 4.2% during the fourth quarter. Oaktree Capital Management LP now owns 3,382,739 shares of the company’s stock worth $57,777,000 after buying an additional 137,300 shares during the period. Glenview Capital Management LLC raised its holdings in shares of Bausch + Lomb by 210.8% in the 2nd quarter. Glenview Capital Management LLC now owns 1,553,855 shares of the company’s stock valued at $20,216,000 after buying an additional 1,053,855 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Bausch + Lomb by 1.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,260,306 shares of the company’s stock valued at $21,527,000 after buying an additional 23,340 shares during the period. Whitebox Advisors LLC boosted its holdings in Bausch + Lomb by 15.8% during the 1st quarter. Whitebox Advisors LLC now owns 1,101,854 shares of the company’s stock valued at $17,519,000 after acquiring an additional 150,641 shares during the period. Finally, Davidson Kempner Capital Management LP purchased a new position in Bausch + Lomb during the 3rd quarter valued at about $14,776,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently issued reports on BLCO. Citigroup increased their price target on shares of Bausch + Lomb from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. UBS Group assumed coverage on shares of Bausch + Lomb in a report on Thursday, July 30th. They issued a “buy” rating and a $21.00 price objective for the company. Weiss Ratings raised shares of Bausch + Lomb from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st. Evercore set a $17.00 target price on shares of Bausch + Lomb in a report on Monday, July 6th. Finally, HC Wainwright reissued a “buy” rating and issued a $21.00 price target on shares of Bausch + Lomb in a research report on Friday. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Bausch + Lomb presently has an average rating of “Hold” and an average price target of $18.75.
Insider Activity at Bausch + Lomb
In related news, CAO Frederick Munsch sold 52,900 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $16.78, for a total value of $887,662.00. Following the sale, the chief accounting officer owned 45,831 shares of the company’s stock, valued at $769,044.18. This trade represents a 53.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eschenbach Andrew C. Von sold 6,059 shares of Bausch + Lomb stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $16.58, for a total transaction of $100,458.22. Following the completion of the transaction, the director owned 63,733 shares of the company’s stock, valued at $1,056,693.14. This represents a 8.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 71,459 shares of company stock worth $1,194,370. 1.45% of the stock is owned by corporate insiders.
Bausch + Lomb Price Performance
Shares of NYSE BLCO opened at $17.13 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.55 and a quick ratio of 1.02. The company has a market cap of $6.12 billion, a price-to-earnings ratio of -35.69, a price-to-earnings-growth ratio of 0.54 and a beta of 0.56. The stock’s 50-day moving average is $16.61 and its two-hundred day moving average is $16.43. Bausch + Lomb Corporation has a 1-year low of $13.77 and a 1-year high of $18.92.
Bausch + Lomb (NYSE:BLCO – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). Bausch + Lomb had a negative net margin of 3.21% and a positive return on equity of 4.14%. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the business posted ($0.18) EPS. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. Analysts forecast that Bausch + Lomb Corporation will post 0.81 EPS for the current fiscal year.
Bausch + Lomb Company 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.
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