Bausch + Lomb Corporation $BLCO Shares Sold by Clearline Capital LP

Clearline Capital LP lowered its position in shares of Bausch + Lomb Corporation (NYSE:BLCO) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 827,568 shares of the company’s stock after selling 89,474 shares during the period. Clearline Capital LP owned 0.23% of Bausch + Lomb worth $14,135,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BLCO. Goldman Sachs Group Inc. grew its stake in shares of Bausch + Lomb by 428.7% during the first quarter. Goldman Sachs Group Inc. now owns 299,671 shares of the company’s stock worth $4,345,000 after purchasing an additional 242,993 shares in the last quarter. Woodline Partners LP grew its stake in shares of Bausch + Lomb by 0.5% during the first quarter. Woodline Partners LP now owns 312,823 shares of the company’s stock worth $4,536,000 after purchasing an additional 1,436 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Bausch + Lomb during the second quarter worth $200,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Bausch + Lomb by 729.3% during the second 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. Finally, Jump Financial LLC acquired a new position in shares of Bausch + Lomb during the second quarter worth $313,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Bausch + Lomb Stock Performance

NYSE BLCO opened at $14.87 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.53 and a quick ratio of 0.99. Bausch + Lomb Corporation has a 1 year low of $11.44 and a 1 year high of $18.92. The company has a market capitalization of $5.31 billion, a PE ratio of -23.98, a P/E/G ratio of 0.46 and a beta of 0.58. The company has a fifty day moving average of $15.88 and a two-hundred day moving average of $16.58.

Bausch + Lomb (NYSE:BLCO) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. Bausch + Lomb’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, analysts expect that Bausch + Lomb Corporation will post 0.82 earnings per share for the current year.

Analysts Set New Price Targets

BLCO has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Bausch + Lomb from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. Citigroup set a $19.00 target price on shares of Bausch + Lomb and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. HC Wainwright upped their price objective on shares of Bausch + Lomb from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Barclays upped their price objective on shares of Bausch + Lomb from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, February 19th. Finally, Stifel Nicolaus set a $16.00 price objective on shares of Bausch + Lomb in a research note on Thursday, February 19th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $17.92.

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.