Bausch + Lomb (NYSE:BLCO) CAO Sells 52,900 Shares

Key Points

• Insider sale: Chief Accounting Officer Frederick Munsch sold 52,900 Bausch + Lomb shares for approximately $887,662, reducing his direct holdings by 53.58% to 45,831 shares.
• Stock performance: BLCO traded at $16.81, near its 50-day and 200-day moving averages, with a 12-month range of $13.77 to $18.92 and a market capitalization of about $6 billion.
• Analyst outlook: Analysts have a consensus “Hold” rating and an average price target of $18.75, while institutional investors own 11.07% of the company.

Bausch + Lomb Corporation (NYSE:BLCO - Get Free Report) CAO Frederick Munsch sold 52,900 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.78, for a total transaction of $887,662.00. Following the completion of the transaction, the chief accounting officer directly owned 45,831 shares of the company's stock, valued at approximately $769,044.18. This represents a 53.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Bausch + Lomb Price Performance

Shares of Bausch + Lomb stock traded down $0.06 on Wednesday, hitting $16.81. 387,573 shares of the company traded hands, compared to its average volume of 437,741. Bausch + Lomb Corporation has a 12-month low of $13.77 and a 12-month high of $18.92. The company has a current ratio of 1.55, a quick ratio of 1.02 and a debt-to-equity ratio of 0.79. The company has a market cap of $6.00 billion, a P/E ratio of -35.02, a P/E/G ratio of 0.55 and a beta of 0.56. The firm's 50-day simple moving average is $16.13 and its 200 day simple moving average is $16.39.

Wall Street Analyst Weigh In

BLCO has been the subject of a number of recent research reports. Weiss Ratings downgraded Bausch + Lomb from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, August 7th. UBS Group began coverage on shares of Bausch + Lomb in a research note on Thursday, July 30th. They set a "buy" rating and a $21.00 price target on the stock. Wall Street Zen upgraded shares of Bausch + Lomb from a "hold" rating to a "buy" rating in a report on Saturday, April 18th. Evercore set a $17.00 price objective on shares of Bausch + Lomb in a research note on Monday, July 6th. Finally, HC Wainwright increased their target price on shares of Bausch + Lomb from $20.00 to $21.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $18.75.

Hedge Funds Weigh In On Bausch + Lomb

A number of large investors have recently bought and sold shares of BLCO. Oaktree Capital Management LP raised its holdings in Bausch + Lomb by 4.2% during the 4th quarter. Oaktree Capital Management LP now owns 3,382,739 shares of the company's stock valued at $57,777,000 after buying an additional 137,300 shares during the last quarter. Glenview Capital Management LLC increased its position in shares of Bausch + Lomb by 210.8% in 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 during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Bausch + Lomb by 1.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,260,306 shares of the company's stock valued at $21,527,000 after acquiring an additional 23,340 shares during the last quarter. Whitebox Advisors LLC raised its stake in shares of Bausch + Lomb by 15.8% during the first quarter. Whitebox Advisors LLC now owns 1,101,854 shares of the company's stock valued at $17,519,000 after acquiring an additional 150,641 shares during the last quarter. Finally, Davidson Kempner Capital Management LP purchased a new stake in shares of Bausch + Lomb during the third quarter worth about $14,776,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

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.

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