Arrowstreet Capital Limited Partnership Reduces Stock Holdings in Bausch + Lomb Corporation $BLCO

Arrowstreet Capital Limited Partnership lessened its position in shares of Bausch + Lomb Corporation (NYSE:BLCO) by 26.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,111,539 shares of the company’s stock after selling 408,316 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Bausch + Lomb were worth $14,487,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Ridgewood Investments LLC purchased a new position in Bausch + Lomb during the 2nd quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Bausch + Lomb by 729.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the company’s stock worth $30,000 after purchasing an additional 2,042 shares in the last quarter. Blue Trust Inc. raised its position in shares of Bausch + Lomb by 58.5% during the 2nd quarter. Blue Trust Inc. now owns 4,502 shares of the company’s stock worth $59,000 after purchasing an additional 1,662 shares during the last quarter. FNY Investment Advisers LLC raised its position in shares of Bausch + Lomb by 93.8% during the 2nd quarter. FNY Investment Advisers LLC now owns 6,200 shares of the company’s stock worth $80,000 after purchasing an additional 3,000 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in Bausch + Lomb by 101.7% in the 1st quarter. National Bank of Canada FI now owns 6,719 shares of the company’s stock valued at $97,000 after buying an additional 3,387 shares in the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

Bausch + Lomb Trading Down 1.6%

NYSE BLCO opened at $16.55 on Tuesday. The company has a market cap of $5.86 billion, a P/E ratio of -19.02, a P/E/G ratio of 1.45 and a beta of 0.62. Bausch + Lomb Corporation has a 12 month low of $10.45 and a 12 month high of $20.71. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.51 and a quick ratio of 0.98. The company has a 50-day moving average of $15.49 and a 200-day moving average of $14.31.

Bausch + Lomb (NYSE:BLCO) last released its earnings results on Wednesday, October 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Bausch + Lomb had a negative net margin of 6.13% and a positive return on equity of 2.42%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the firm earned $0.13 earnings per share. Bausch + Lomb’s revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts predict that Bausch + Lomb Corporation will post 0.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. HC Wainwright raised their price target on Bausch + Lomb from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bausch + Lomb in a research report on Wednesday, October 8th. Wells Fargo & Company boosted their target price on shares of Bausch + Lomb from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, November 14th. Raymond James Financial reaffirmed an “outperform” rating and set a $19.00 price target (up from $18.00) on shares of Bausch + Lomb in a research note on Thursday, October 30th. Finally, Evercore ISI lifted their price target on shares of Bausch + Lomb from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $16.58.

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.