Clearline Capital LP Sells 63,414 Shares of Bausch + Lomb Co. (NYSE:BLCO)

Clearline Capital LP decreased its holdings in shares of Bausch + Lomb Co. (NYSE:BLCO - Free Report) by 8.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 646,641 shares of the company's stock after selling 63,414 shares during the quarter. Bausch + Lomb makes up 1.5% of Clearline Capital LP's holdings, making the stock its 18th biggest position. Clearline Capital LP owned about 0.18% of Bausch + Lomb worth $11,678,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BLCO. Blue Trust Inc. raised its stake in Bausch + Lomb by 68.3% in the 4th quarter. Blue Trust Inc. now owns 2,474 shares of the company's stock worth $48,000 after purchasing an additional 1,004 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Bausch + Lomb in the fourth quarter valued at approximately $72,000. Commonwealth Equity Services LLC acquired a new stake in Bausch + Lomb during the fourth quarter worth approximately $181,000. Alpine Global Management LLC bought a new position in Bausch + Lomb during the 4th quarter worth $181,000. Finally, Covestor Ltd bought a new position in Bausch + Lomb during the 4th quarter worth $188,000. Institutional investors own 11.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BLCO shares. Stifel Nicolaus decreased their price target on Bausch + Lomb from $17.00 to $15.00 and set a "hold" rating on the stock in a research report on Thursday, April 3rd. Needham & Company LLC restated a "hold" rating on shares of Bausch + Lomb in a research report on Thursday, April 24th. Royal Bank of Canada reduced their price target on shares of Bausch + Lomb from $18.00 to $17.00 and set an "outperform" rating on the stock in a research report on Friday, April 4th. Wells Fargo & Company lowered their price objective on shares of Bausch + Lomb from $15.00 to $12.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, Morgan Stanley reduced their target price on Bausch + Lomb from $18.00 to $12.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $15.50.

Bausch + Lomb Price Performance

BLCO traded down $0.27 on Friday, reaching $11.23. The stock had a trading volume of 657,304 shares, compared to its average volume of 649,977. The company has a current ratio of 1.60, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of -12.34, a price-to-earnings-growth ratio of 0.85 and a beta of 0.58. Bausch + Lomb Co. has a fifty-two week low of $10.45 and a fifty-two week high of $21.69. The firm has a 50-day moving average of $13.45 and a 200-day moving average of $16.57.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.10). Bausch + Lomb had a negative net margin of 6.62% and a positive return on equity of 3.35%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the business earned $0.07 EPS. The firm's quarterly revenue was up 3.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bausch + Lomb Co. will post 0.74 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.