Gamco Investors INC. ET AL Sells 68,000 Shares of Bausch + Lomb Corporation $BLCO

Gamco Investors INC. ET AL lessened its holdings in Bausch + Lomb Corporation (NYSE:BLCO) by 80.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,000 shares of the company’s stock after selling 68,000 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Bausch + Lomb were worth $290,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Oaktree Capital Management LP grew its holdings in Bausch + Lomb by 28.7% in the third quarter. Oaktree Capital Management LP now owns 3,245,439 shares of the company’s stock worth $48,909,000 after purchasing an additional 724,194 shares during the period. Goldentree Asset Management LP increased its position in shares of Bausch + Lomb by 3.0% during the third quarter. Goldentree Asset Management LP now owns 2,660,508 shares of the company’s stock valued at $40,002,000 after acquiring an additional 77,323 shares in the last quarter. Glenview Capital Management LLC increased its position in shares of Bausch + Lomb by 210.8% during the second quarter. Glenview Capital Management LLC now owns 1,553,855 shares of the company’s stock valued at $20,216,000 after acquiring an additional 1,053,855 shares in the last quarter. Compass Rose Asset Management LP increased its position in shares of Bausch + Lomb by 22.0% during the third quarter. Compass Rose Asset Management LP now owns 1,000,000 shares of the company’s stock valued at $15,070,000 after acquiring an additional 180,000 shares in the last quarter. Finally, Davidson Kempner Capital Management LP bought a new stake in shares of Bausch + Lomb during the third quarter valued at approximately $14,776,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BLCO shares. Wells Fargo & Company raised their target price on shares of Bausch + Lomb from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, February 19th. HC Wainwright raised their price objective on shares of Bausch + Lomb from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Wall Street Zen upgraded shares of Bausch + Lomb from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Citigroup boosted their target price on shares of Bausch + Lomb from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Finally, Barclays boosted their target price on shares of Bausch + Lomb from $17.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $18.08.

Bausch + Lomb Trading Down 1.2%

NYSE BLCO opened at $15.95 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.53 and a debt-to-equity ratio of 0.78. The firm has a market cap of $5.69 billion, a PE ratio of -25.73, a price-to-earnings-growth ratio of 0.49 and a beta of 0.59. The company has a 50 day moving average price of $16.15 and a 200 day moving average price of $16.60. Bausch + Lomb Corporation has a 52 week low of $10.99 and a 52 week high of $18.92.

Bausch + Lomb (NYSE:BLCO) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Bausch + Lomb had a negative net margin of 4.21% and a positive return on equity of 3.60%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the business posted ($0.07) EPS. Bausch + Lomb’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Bausch + Lomb Corporation will post 0.82 EPS for the current fiscal year.

Insider Buying and Selling at Bausch + Lomb

In related news, CEO Brent L. Saunders purchased 14,700 shares of the business’s stock in a transaction on Friday, March 6th. The shares were acquired at an average price of $17.14 per share, for a total transaction of $251,958.00. Following the purchase, the chief executive officer owned 966,575 shares of the company’s stock, valued at $16,567,095.50. This trade represents a 1.54% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP A Robert D. Bailey purchased 14,600 shares of the business’s stock in a transaction on Friday, March 6th. The shares were bought at an average price of $17.15 per share, for a total transaction of $250,390.00. Following the purchase, the executive vice president directly owned 231,890 shares in the company, valued at $3,976,913.50. This represents a 6.72% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 33,300 shares of company stock worth $570,868. 1.45% of the stock is owned by corporate insiders.

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.