Blue Trust Inc. Sells 1,785 Shares of Bausch + Lomb Co. (NYSE:BLCO)

Blue Trust Inc. cut its holdings in Bausch + Lomb Co. (NYSE:BLCO) by 54.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,470 shares of the company’s stock after selling 1,785 shares during the period. Blue Trust Inc.’s holdings in Bausch + Lomb were worth $28,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Squarepoint Ops LLC bought a new stake in shares of Bausch + Lomb in the 2nd quarter worth about $173,000. Fore Capital LLC purchased a new position in shares of Bausch + Lomb during the 1st quarter worth about $384,000. Renaissance Capital LLC grew its holdings in Bausch + Lomb by 57.2% during the 2nd quarter. Renaissance Capital LLC now owns 36,286 shares of the company’s stock valued at $527,000 after purchasing an additional 13,210 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Bausch + Lomb during the 2nd quarter valued at about $580,000. Finally, Dimensional Fund Advisors LP grew its holdings in Bausch + Lomb by 53.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 67,690 shares of the company’s stock valued at $984,000 after purchasing an additional 23,714 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors.

Insider Activity

In other Bausch + Lomb news, CEO Brent L. Saunders acquired 32,250 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $15.66 per share, for a total transaction of $505,035.00. Following the completion of the purchase, the chief executive officer now owns 595,169 shares in the company, valued at approximately $9,320,346.54. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.15% of the company’s stock.

Bausch + Lomb Price Performance

NYSE BLCO opened at $20.51 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.65. The firm’s 50 day moving average price is $18.61 and its 200-day moving average price is $16.47. Bausch + Lomb Co. has a 52-week low of $13.16 and a 52-week high of $21.69. The company has a market cap of $7.22 billion, a PE ratio of -19.53, a P/E/G ratio of 1.90 and a beta of 0.48.

Bausch + Lomb (NYSE:BLCO) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.16%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the firm earned $0.18 earnings per share. The company’s quarterly revenue was up 17.5% on a year-over-year basis. Sell-side analysts forecast that Bausch + Lomb Co. will post 0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BLCO has been the topic of several analyst reports. Evercore upped their price target on shares of Bausch + Lomb from $15.50 to $17.00 and gave the company an “in-line” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Bausch + Lomb from $14.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, August 1st. HC Wainwright upped their price target on shares of Bausch + Lomb from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday. Evercore ISI upgraded shares of Bausch + Lomb from an “in-line” rating to an “outperform” rating and upped their price target for the company from $19.00 to $25.00 in a report on Tuesday, October 15th. Finally, Royal Bank of Canada upped their target price on shares of Bausch + Lomb from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.91.

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.