Bausch + Lomb (NYSE:BLCO) Director Eschenbach Andrew Von Sells 12,500 Shares

Key Points

• Director Eschenbach Andrew Von sold 12,500 Bausch + Lomb shares at an average price of $16.50, generating $206,250 and reducing his position by 15.19% to 69,792 shares.
• Bausch + Lomb shares recently traded at $16.80, near their 50-day and 200-day moving averages, with a 12-month range of $13.53 to $18.92 and a market capitalization of approximately $6 billion.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $18.75; institutional investors own 11.07% of the company and several recently increased their stakes.

Bausch + Lomb Corporation (NYSE:BLCO - Get Free Report) Director Eschenbach Andrew Von sold 12,500 shares of the business's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $16.50, for a total value of $206,250.00. Following the sale, the director owned 69,792 shares in the company, valued at $1,151,568. The trade was a 15.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Bausch + Lomb Stock Performance

Shares of Bausch + Lomb stock traded up $0.02 during midday trading on Monday, hitting $16.80. The company had a trading volume of 324,953 shares, compared to its average volume of 443,694. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of -35.00, a PEG ratio of 0.54 and a beta of 0.55. The company has a quick ratio of 1.02, a current ratio of 1.55 and a debt-to-equity ratio of 0.79. The company has a fifty day simple moving average of $16.05 and a 200 day simple moving average of $16.39. Bausch + Lomb Corporation has a 12-month low of $13.53 and a 12-month high of $18.92.

Hedge Funds Weigh In On Bausch + Lomb

A number of institutional investors have recently modified their holdings of BLCO. Handelsbanken Fonder AB raised its position in 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 acquiring an additional 1,100 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Bausch + Lomb by 16.0% during the 1st quarter. Bank of America Corp DE now owns 65,765 shares of the company's stock worth $1,046,000 after purchasing an additional 9,066 shares during the period. Royal Bank of Canada grew its stake in shares of Bausch + Lomb by 67.1% during the 1st quarter. Royal Bank of Canada now owns 3,657 shares of the company's stock worth $58,000 after purchasing an additional 1,468 shares during the period. Whitebox Advisors LLC increased its holdings in shares of Bausch + Lomb by 15.8% during the 1st quarter. Whitebox Advisors LLC now owns 1,101,854 shares of the company's stock valued at $17,519,000 after purchasing an additional 150,641 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Bausch + Lomb by 100.0% in the 1st quarter. Sei Investments Co. now owns 139,266 shares of the company's stock valued at $2,214,000 after purchasing an additional 69,633 shares during the period. Hedge funds and other institutional investors own 11.07% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BLCO shares. Deutsche Bank Aktiengesellschaft set a $16.00 price objective on shares of Bausch + Lomb in a research note on Thursday, April 30th. Weiss Ratings lowered Bausch + Lomb from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday. Wall Street Zen raised Bausch + Lomb from a "hold" rating to a "buy" rating in a research report on Saturday, April 18th. Evercore set a $17.00 price target on Bausch + Lomb in a research note on Monday, July 6th. Finally, Citigroup raised their price objective on Bausch + Lomb from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Bausch + Lomb presently has an average rating of "Hold" and a consensus price target of $18.75.

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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