Brandes Investment Partners LP Reduces Position in Bausch + Lomb Co. (NYSE:BLCO)

Brandes Investment Partners LP lowered its holdings in Bausch + Lomb Co. (NYSE:BLCO) by 77.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,119 shares of the company’s stock after selling 48,428 shares during the period. Brandes Investment Partners LP’s holdings in Bausch + Lomb were worth $205,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Clearline Capital LP raised its position in shares of Bausch + Lomb by 136.8% in the 2nd quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock valued at $10,339,000 after purchasing an additional 411,404 shares in the last quarter. Freshford Capital Management LLC raised its holdings in Bausch + Lomb by 29.8% in the fourth quarter. Freshford Capital Management LLC now owns 1,754,123 shares of the company’s stock valued at $29,925,000 after acquiring an additional 403,062 shares in the last quarter. Invenomic Capital Management LP bought a new position in Bausch + Lomb during the 1st quarter valued at $6,817,000. Whitebox Advisors LLC grew its holdings in Bausch + Lomb by 28.2% during the 2nd quarter. Whitebox Advisors LLC now owns 1,545,946 shares of the company’s stock worth $22,447,000 after acquiring an additional 339,643 shares in the last quarter. Finally, Rokos Capital Management LLP bought a new stake in shares of Bausch + Lomb in the 1st quarter worth about $5,602,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Insider Activity at Bausch + Lomb

In other news, CEO Brent L. Saunders bought 32,250 shares of the business’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $15.66 per share, for a total transaction of $505,035.00. Following the completion of the transaction, the chief executive officer now directly owns 595,169 shares of the company’s stock, valued at approximately $9,320,346.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Bausch + Lomb Trading Up 1.7 %

Shares of NYSE:BLCO opened at $19.27 on Tuesday. The company’s 50-day moving average price is $16.75 and its 200 day moving average price is $15.82. The company has a market cap of $6.78 billion, a PE ratio of -20.07, a P/E/G ratio of 1.81 and a beta of 0.46. The company has a quick ratio of 1.01, a current ratio of 1.65 and a debt-to-equity ratio of 0.70. Bausch + Lomb Co. has a fifty-two week low of $13.16 and a fifty-two week high of $21.00.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. Bausch + Lomb had a negative net margin of 10.15% and a positive return on equity of 3.36%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. Sell-side analysts anticipate that Bausch + Lomb Co. will post 0.6 earnings per share for the current year.

Wall Street Analyst Weigh In

BLCO has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price target on shares of Bausch + Lomb in a research report on Thursday, August 1st. Stifel Nicolaus lifted their target price on Bausch + Lomb from $16.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Evercore ISI upped their price target on Bausch + Lomb from $15.00 to $15.50 and gave the company an “in-line” rating in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Bausch + Lomb from $14.00 to $18.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Raymond James began coverage on shares of Bausch + Lomb in a report on Wednesday, July 10th. They set an “outperform” rating and a $19.00 target price on the stock. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.14.

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.