LMR Partners LLP Sells 57,974 Shares of Bausch + Lomb Co. (NYSE:BLCO)

LMR Partners LLP trimmed its position in Bausch + Lomb Co. (NYSE:BLCO) by 38.7% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 91,666 shares of the company’s stock after selling 57,974 shares during the period. LMR Partners LLP’s holdings in Bausch + Lomb were worth $1,768,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. boosted its position in Bausch + Lomb by 14,052.2% in the 2nd quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock valued at $47,000 after buying an additional 3,232 shares during the last quarter. Squarepoint Ops LLC bought a new position in Bausch + Lomb in the 2nd quarter valued at $173,000. Renaissance Capital LLC lifted its stake in shares of Bausch + Lomb by 57.2% in 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 period. Cubist Systematic Strategies LLC acquired a new position in shares of Bausch + Lomb in the 2nd quarter valued at $580,000. Finally, Fore Capital LLC lifted its stake in shares of Bausch + Lomb by 90.2% in the 2nd quarter. Fore Capital LLC now owns 42,180 shares of the company’s stock valued at $612,000 after purchasing an additional 20,000 shares during the period. 11.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Royal Bank of Canada increased their price target on Bausch + Lomb from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. HC Wainwright increased their price target on Bausch + Lomb from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Stifel Nicolaus increased their price target on Bausch + Lomb from $16.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Evercore ISI raised Bausch + Lomb from an “in-line” rating to an “outperform” rating and increased their price target for the company from $19.00 to $25.00 in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company raised their price objective on Bausch + Lomb from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.91.

Bausch + Lomb Stock Performance

Shares of Bausch + Lomb stock opened at $19.76 on Tuesday. The stock’s fifty day simple moving average is $19.43 and its 200 day simple moving average is $16.90. Bausch + Lomb Co. has a 12 month low of $13.16 and a 12 month high of $21.69. The company has a market capitalization of $6.96 billion, a PE ratio of -18.82, a PEG ratio of 1.92 and a beta of 0.46. The company has a current ratio of 1.57, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69.

Bausch + Lomb (NYSE:BLCO) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. Bausch + Lomb had a positive return on equity of 3.17% and a negative net margin of 7.86%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the business posted $0.22 EPS. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, research analysts predict that Bausch + Lomb Co. will post 0.59 EPS for the current 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.