Governors Lane LP Sells 123,342 Shares of Bausch + Lomb Co. (NYSE:BLCO)

Governors Lane LP trimmed its position in shares of Bausch + Lomb Co. (NYSE:BLCO - Free Report) by 45.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 145,958 shares of the company's stock after selling 123,342 shares during the period. Governors Lane LP's holdings in Bausch + Lomb were worth $2,636,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Alberta Investment Management Corp boosted its stake in shares of Bausch + Lomb by 36.0% during the fourth quarter. Alberta Investment Management Corp now owns 3,008,193 shares of the company's stock valued at $54,328,000 after purchasing an additional 796,400 shares in the last quarter. Whitebox Advisors LLC boosted its stake in shares of Bausch + Lomb by 16.1% during the fourth quarter. Whitebox Advisors LLC now owns 1,443,101 shares of the company's stock valued at $26,062,000 after purchasing an additional 199,856 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Bausch + Lomb by 51.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,218,431 shares of the company's stock valued at $21,996,000 after purchasing an additional 414,138 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Bausch + Lomb during the fourth quarter valued at about $14,122,000. Finally, Gabelli Funds LLC boosted its stake in shares of Bausch + Lomb by 10.3% during the fourth quarter. Gabelli Funds LLC now owns 430,000 shares of the company's stock valued at $7,766,000 after purchasing an additional 40,000 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Bausch + Lomb Stock Down 1.0%

Shares of NYSE:BLCO traded down $0.12 during trading on Tuesday, reaching $11.77. The stock had a trading volume of 208,046 shares, compared to its average volume of 650,177. The firm's 50-day simple moving average is $13.37 and its 200 day simple moving average is $16.48. Bausch + Lomb Co. has a one year low of $10.45 and a one year high of $21.69. The company has a market capitalization of $4.16 billion, a P/E ratio of -13.05, a PEG ratio of 0.85 and a beta of 0.58. The company has a current ratio of 1.60, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BLCO shares. Royal Bank of Canada cut their price target on Bausch + Lomb from $18.00 to $17.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. Needham & Company LLC reissued a "hold" rating on shares of Bausch + Lomb in a research note on Thursday, April 24th. Bank of America dropped their price objective on Bausch + Lomb from $18.00 to $17.00 and set an "underperform" rating on the stock in a research note on Thursday, February 20th. Citigroup dropped their price objective on Bausch + Lomb from $14.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Finally, Stifel Nicolaus reduced their target price on Bausch + Lomb from $17.00 to $15.00 and set a "hold" rating for the company in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock 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.