Tabor Asset Management LP Purchases Shares of 23,334 Bausch + Lomb Corporation (NYSE:BLCO)

Tabor Asset Management LP purchased a new stake in shares of Bausch + Lomb Corporation (NYSE:BLCO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 23,334 shares of the company's stock, valued at approximately $338,000.

A number of other hedge funds have also bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in shares of Bausch + Lomb in the fourth quarter worth $2,844,000. Renaissance Technologies LLC acquired a new stake in shares of Bausch + Lomb in the fourth quarter worth $372,000. Charles Schwab Investment Management Inc. increased its stake in shares of Bausch + Lomb by 38.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,085 shares of the company's stock worth $742,000 after acquiring an additional 11,330 shares during the period. Commonwealth Equity Services LLC acquired a new stake in shares of Bausch + Lomb in the fourth quarter worth $181,000. Finally, Orion Portfolio Solutions LLC acquired a new stake in shares of Bausch + Lomb in the fourth quarter worth $225,000. Institutional investors and hedge funds own 11.07% of the company's stock.

Bausch + Lomb Price Performance

BLCO traded down $0.13 during midday trading on Friday, hitting $14.05. 31,409 shares of the company traded hands, compared to its average volume of 758,450. The business has a 50 day simple moving average of $12.34 and a two-hundred day simple moving average of $14.20. The company has a current ratio of 1.56, a quick ratio of 0.96 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of -13.65, a PEG ratio of 1.57 and a beta of 0.62. Bausch + Lomb Corporation has a 52-week low of $10.45 and a 52-week high of $21.69.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.10). The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.15 billion. Bausch + Lomb had a positive return on equity of 2.62% and a negative net margin of 7.50%. The business's quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 earnings per share. On average, equities analysts forecast that Bausch + Lomb Corporation will post 0.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Bausch + Lomb

In other Bausch + Lomb news, CEO Brent L. Saunders purchased 22,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average cost of $11.28 per share, with a total value of $248,160.00. Following the completion of the purchase, the chief executive officer owned 719,156 shares in the company, valued at approximately $8,112,079.68. This represents a 3.16% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.76% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BLCO. Barclays cut their price objective on shares of Bausch + Lomb from $19.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Monday, June 9th. Wells Fargo & Company dropped their price target on shares of Bausch + Lomb from $15.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus dropped their price target on shares of Bausch + Lomb from $17.00 to $15.00 and set a "hold" rating on the stock in a research report on Thursday, April 3rd. Citigroup raised their price target on shares of Bausch + Lomb from $13.00 to $15.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Finally, Royal Bank Of Canada dropped 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $15.45.

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.

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