Diameter Capital Partners LP Sells 398,586 Shares of Bausch + Lomb Co. (NYSE:BLCO)

Diameter Capital Partners LP lessened its holdings in shares of Bausch + Lomb Co. (NYSE:BLCO - Free Report) by 36.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 701,414 shares of the company's stock after selling 398,586 shares during the quarter. Bausch + Lomb makes up about 1.9% of Diameter Capital Partners LP's portfolio, making the stock its 19th biggest holding. Diameter Capital Partners LP owned approximately 0.20% of Bausch + Lomb worth $12,668,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of BLCO. Blue Trust Inc. boosted its position in Bausch + Lomb by 68.3% during the fourth quarter. Blue Trust Inc. now owns 2,474 shares of the company's stock worth $48,000 after acquiring an additional 1,004 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Bausch + Lomb during the 4th quarter worth approximately $72,000. XTX Topco Ltd grew its position in shares of Bausch + Lomb by 25.4% in the fourth quarter. XTX Topco Ltd now owns 20,077 shares of the company's stock valued at $363,000 after purchasing an additional 4,065 shares in the last quarter. Fore Capital LLC increased its holdings in shares of Bausch + Lomb by 9.5% in the fourth quarter. Fore Capital LLC now owns 57,614 shares of the company's stock valued at $1,041,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Barclays PLC lifted its position in Bausch + Lomb by 1.8% during the fourth quarter. Barclays PLC now owns 305,804 shares of the company's stock worth $5,523,000 after buying an additional 5,304 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company's stock.

Bausch + Lomb Price Performance

Shares of BLCO stock traded up $0.80 during trading hours on Monday, reaching $12.07. 695,374 shares of the company were exchanged, compared to its average volume of 650,189. Bausch + Lomb Co. has a fifty-two week low of $10.45 and a fifty-two week high of $21.69. The company has a market cap of $4.26 billion, a price-to-earnings ratio of -13.28, a P/E/G ratio of 0.85 and a beta of 0.58. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.60 and a quick ratio of 1.01. The stock's fifty day moving average is $13.45 and its two-hundred day moving average is $16.54.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the firm posted $0.07 EPS. The company's revenue was up 3.5% on a year-over-year basis. Sell-side analysts forecast that Bausch + Lomb Co. will post 0.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BLCO has been the subject of several analyst reports. Stifel Nicolaus lowered their price objective on Bausch + Lomb from $17.00 to $15.00 and set a "hold" rating for the company in a research report on Thursday, April 3rd. Evercore ISI decreased their price objective on shares of Bausch + Lomb from $19.00 to $15.50 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Bausch + Lomb in a research note on Thursday, April 24th. Royal Bank of Canada dropped their price objective on Bausch + Lomb from $18.00 to $17.00 and set an "outperform" rating on the stock in a report on Friday, April 4th. Finally, Citigroup cut their price target on Bausch + Lomb from $14.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $15.50.

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.