Engineers Gate Manager LP Invests $1.48 Million in Bausch + Lomb Corporation $BLCO

Engineers Gate Manager LP acquired a new position in shares of Bausch + Lomb Corporation (NYSE:BLCO) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 89,288 shares of the company’s stock, valued at approximately $1,479,000.

A number of other hedge funds have also bought and sold shares of the company. Handelsbanken Fonder AB boosted its position in shares of Bausch + Lomb by 5.3% during the second quarter. Handelsbanken Fonder AB now owns 22,000 shares of the company’s stock valued at $364,000 after buying an additional 1,100 shares during the period. Royal Bank of Canada raised its holdings in shares of Bausch + Lomb by 67.1% in the first quarter. Royal Bank of Canada now owns 3,657 shares of the company’s stock worth $58,000 after buying an additional 1,468 shares during the period. Squarepoint Ops LLC boosted its holdings in Bausch + Lomb by 31.7% during the 2nd quarter. Squarepoint Ops LLC now owns 24,379 shares of the company’s stock valued at $404,000 after acquiring an additional 5,861 shares during the period. Bank of America Corp DE grew its position in Bausch + Lomb by 16.0% in the 1st quarter. Bank of America Corp DE now owns 65,765 shares of the company’s stock valued at $1,046,000 after acquiring an additional 9,066 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Bausch + Lomb by 13.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 85,779 shares of the company’s stock valued at $1,362,000 after acquiring an additional 9,971 shares during the last quarter. Institutional investors own 11.07% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on BLCO. Leerink Partners began coverage on shares of Bausch + Lomb in a research note on Wednesday, September 9th. They issued an “outperform” rating and a $24.00 price target on the stock. Evercore set a $17.00 price objective on Bausch + Lomb in a report on Monday, July 6th. Weiss Ratings upgraded Bausch + Lomb from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a report on Tuesday. Finally, UBS Group started coverage on shares of Bausch + Lomb in a research report on Thursday, July 30th. They set a “buy” rating and a $21.00 target price on the stock. Six investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.15.

Insider Buying and Selling at Bausch + Lomb

In other news, CAO Frederick Munsch sold 52,900 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $16.78, for a total value of $887,662.00. Following the completion of the sale, the chief accounting officer owned 45,831 shares of the company’s stock, valued at $769,044.18. This trade represents a 53.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eschenbach Andrew C. Von sold 6,059 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $16.58, for a total value of $100,458.22. Following the transaction, the director owned 63,733 shares in the company, valued at approximately $1,056,693.14. This trade represents a 8.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 71,459 shares of company stock valued at $1,194,370. Company insiders own 1.45% of the company’s stock.

Bausch + Lomb Price Performance

BLCO opened at $17.08 on Thursday. Bausch + Lomb Corporation has a 1 year low of $13.77 and a 1 year high of $18.92. The firm has a market capitalization of $6.10 billion, a PE ratio of -35.59, a price-to-earnings-growth ratio of 0.54 and a beta of 0.56. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.55 and a quick ratio of 1.02. The business’s 50-day moving average is $16.95 and its two-hundred day moving average is $16.43.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01). Bausch + Lomb had a positive return on equity of 4.14% and a negative net margin of 3.21%.The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the firm earned ($0.18) EPS. The company’s revenue was up 9.1% compared to the same quarter last year. Research analysts anticipate that Bausch + Lomb Corporation will post 0.81 earnings per share for the current fiscal year.

About Bausch + Lomb

Bausch + Lomb Corporation (NYSE: BLCO) is a global eye-health company that develops, manufactures and markets products for vision care, pharmaceuticals and surgical use. Its portfolio serves consumers, eye-care professionals and patients with a range of products designed to support eye health and improve vision.

The company’s vision-care business includes contact lenses and lens-care products, while its pharmaceutical portfolio includes prescription and over-the-counter treatments for conditions affecting the eyes.