Bausch + Lomb Co. (NYSE:BLCO) Shares Sold by Brandes Investment Partners LP

Brandes Investment Partners LP cut its holdings in Bausch + Lomb Co. (NYSE:BLCO) by 77.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Renaissance Capital LLC grew its position in shares of Bausch + Lomb by 3.0% in the first quarter. Renaissance Capital LLC now owns 23,076 shares of the company’s stock valued at $399,000 after purchasing an additional 669 shares during the last quarter. Blue Trust Inc. increased its position in Bausch + Lomb by 14,052.2% during the second quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock worth $47,000 after buying an additional 3,232 shares in the last quarter. Gabelli Funds LLC increased its position in Bausch + Lomb by 3.3% during the first quarter. Gabelli Funds LLC now owns 312,000 shares of the company’s stock worth $5,398,000 after buying an additional 10,000 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Bausch + Lomb in the second quarter valued at $173,000. Finally, Fore Capital LLC boosted its stake in shares of Bausch + Lomb by 90.2% during the second quarter. Fore Capital LLC now owns 42,180 shares of the company’s stock valued at $612,000 after acquiring an additional 20,000 shares during the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. HC Wainwright raised their price target on shares of Bausch + Lomb from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Raymond James began coverage on shares of Bausch + Lomb in a research note on Wednesday, July 10th. They issued an “outperform” rating and a $19.00 target price for the company. Evercore increased their price target on Bausch + Lomb from $15.50 to $17.00 and gave the stock an “in-line” rating in a research note on Thursday, August 1st. Evercore ISI lifted their price objective 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. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a research report on Monday, September 16th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Bausch + Lomb presently has an average rating of “Moderate Buy” and an average price target of $19.14.

Insider Activity at Bausch + Lomb

In related news, CEO Brent L. Saunders purchased 32,250 shares of the stock in a transaction that occurred 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 acquisition, the chief executive officer now owns 595,169 shares in the company, valued at $9,320,346.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Bausch + Lomb Stock Performance

Bausch + Lomb stock opened at $19.27 on Tuesday. The company has a market cap of $6.78 billion, a price-to-earnings ratio of -20.07, a price-to-earnings-growth ratio of 1.81 and a beta of 0.46. Bausch + Lomb Co. has a 12 month low of $13.16 and a 12 month high of $21.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.65 and a quick ratio of 1.01. The stock’s 50-day moving average is $16.75 and its 200-day moving average is $15.82.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.13 EPS for the quarter, meeting 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 firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the firm posted $0.18 earnings per share. Bausch + Lomb’s revenue for the quarter was up 17.5% compared to the same quarter last year. Equities analysts anticipate that Bausch + Lomb Co. will post 0.6 earnings per share for the current year.

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.