Victory Capital Management Inc. Lowers Stock Holdings in Bausch + Lomb Co. (NYSE:BLCO)

Victory Capital Management Inc. lessened its holdings in shares of Bausch + Lomb Co. (NYSE:BLCO) by 90.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,423 shares of the company’s stock after selling 509,408 shares during the quarter. Victory Capital Management Inc.’s holdings in Bausch + Lomb were worth $747,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BLCO. Blue Trust Inc. increased its stake in Bausch + Lomb by 14,052.2% in the second quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock valued at $47,000 after purchasing an additional 3,232 shares during the last quarter. 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 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 period. Quadrature Capital Ltd raised its stake in Bausch + Lomb by 75.8% during the fourth quarter. Quadrature Capital Ltd now owns 48,258 shares of the company’s stock worth $824,000 after purchasing an additional 20,803 shares during the period. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Bausch + Lomb during the 4th quarter valued at $1,706,000. 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 Bausch + Lomb stock in a transaction on Monday, August 5th. The shares were bought at an average price of $15.66 per share, with a total value of $505,035.00. Following the acquisition, the chief executive officer now directly owns 595,169 shares in the company, valued at approximately $9,320,346.54. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BLCO shares. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a research report on Monday, September 16th. Raymond James started coverage on Bausch + Lomb in a report on Wednesday, July 10th. They set an “outperform” rating and a $19.00 target price for the company. HC Wainwright decreased their price objective on shares of Bausch + Lomb from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 target price on shares of Bausch + Lomb in a research note on Thursday, August 1st. Finally, Evercore ISI upped their price target on shares of Bausch + Lomb from $15.00 to $15.50 and gave the stock an “in-line” rating in a research report on Tuesday, July 2nd. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Bausch + Lomb has a consensus rating of “Moderate Buy” and a consensus target price of $18.59.

Bausch + Lomb Price Performance

BLCO stock opened at $19.96 on Friday. The company has a market capitalization of $7.02 billion, a PE ratio of -20.79, a P/E/G ratio of 1.47 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. The stock’s 50 day moving average is $16.46 and its two-hundred day moving average is $15.70. Bausch + Lomb Co. has a 52-week low of $13.16 and a 52-week high of $21.00.

Bausch + Lomb (NYSE:BLCO) last announced 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. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. Bausch + Lomb had a negative net margin of 10.15% and a positive return on equity of 3.36%. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period last year, the business earned $0.18 EPS. Analysts predict that Bausch + Lomb Co. will post 0.6 earnings per share for the current fiscal year.

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.