Bausch + Lomb Co. (NYSE:BLCO) Shares Sold by Diameter Capital Partners LP

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. grew its stake 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 buying an additional 1,004 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Bausch + Lomb during the 4th quarter valued at $72,000. Commonwealth Equity Services LLC purchased a new stake in Bausch + Lomb during the 4th quarter worth $181,000. Alpine Global Management LLC purchased a new position in Bausch + Lomb in the fourth quarter valued at about $181,000. Finally, Covestor Ltd acquired a new position in shares of Bausch + Lomb during the fourth quarter worth about $188,000. Institutional investors and hedge funds own 11.07% of the company's stock.

Wall Street Analysts Forecast Growth

BLCO has been the topic of several analyst reports. Morgan Stanley dropped 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. Bank of America cut their target price on Bausch + Lomb from $18.00 to $17.00 and set an "underperform" rating on the stock in a research report on Thursday, February 20th. Citigroup dropped their price target on shares of Bausch + Lomb from $14.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Royal Bank of Canada reduced their price objective on shares of Bausch + Lomb from $18.00 to $17.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. Finally, Evercore ISI dropped their target price on shares of Bausch + Lomb from $19.00 to $15.50 and set an "outperform" rating for the company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $15.50.

Bausch + Lomb Stock Performance

NYSE:BLCO traded down $0.27 during midday trading on Friday, reaching $11.23. 657,304 shares of the company traded hands, compared to its average volume of 648,895. Bausch + Lomb Co. has a twelve month low of $10.45 and a twelve month high of $21.69. 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 company has a fifty day moving average price of $13.45 and a 200 day moving average price of $16.59. The firm 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 (NYSE:BLCO - Get Free Report) last released its quarterly 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). The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.15 billion. Bausch + Lomb had a positive return on equity of 3.35% and a negative net margin of 6.62%. The firm's revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.07 EPS. On average, analysts expect that Bausch + Lomb Co. will post 0.74 EPS for the current fiscal 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.