Bausch + Lomb (NYSE:BLCO) CAO Frederick Munsch Sells 112,015 Shares of Company Stock

Key Points

• Chief Accounting Officer Frederick Munsch sold 112,015 Bausch + Lomb shares at an average price of $20.48, generating $2.29 million and reducing his ownership by about 71% to 45,831 shares.
• Bausch + Lomb shares traded at $20.07, near the company’s 12-month high of $21.36. The stock has risen above its 50-day and 200-day moving averages.
• The company reported quarterly EPS of $0.34, beating estimates by $0.13, while revenue reached $1.38 billion, up 7.3% year over year. Analysts’ average rating remains “Hold,” with an average price target of $20.83.

Bausch + Lomb Corporation (NYSE:BLCO - Get Free Report) CAO Frederick Munsch sold 112,015 shares of the firm's stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $20.48, for a total transaction of $2,294,067.20. Following the completion of the transaction, the chief accounting officer owned 45,831 shares of the company's stock, valued at approximately $938,618.88. The trade was a 70.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Frederick Munsch also recently made the following trade(s):

• On Monday, August 10th, Frederick Munsch sold 52,900 shares of Bausch + Lomb stock. The shares were sold at an average price of $16.78, for a total transaction of $887,662.00.

Bausch + Lomb Trading Up 0.4%

Bausch + Lomb stock traded up $0.07 during midday trading on Monday, reaching $20.07. The stock had a trading volume of 1,507,950 shares, compared to its average volume of 476,542. Bausch + Lomb Corporation has a twelve month low of $14.44 and a twelve month high of $21.36. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.56 and a quick ratio of 1.04. The firm has a market cap of $7.17 billion, a price-to-earnings ratio of -64.76, a PEG ratio of 0.53 and a beta of 0.52. The firm's fifty day simple moving average is $17.35 and its two-hundred day simple moving average is $16.69.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last announced its earnings results on Wednesday, October 28th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.13. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. Bausch + Lomb had a negative net margin of 2.05% and a positive return on equity of 5.01%. The company's revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS. Equities analysts anticipate that Bausch + Lomb Corporation will post 0.94 EPS for the current fiscal year.

Institutional Trading of Bausch + Lomb

Hedge funds and other institutional investors have recently modified their holdings of the company. Whitebox Advisors LLC raised 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. Beach Point Capital Management LP acquired a new position in Bausch + Lomb during the third quarter worth $5,882,000. Sei Investments Co. increased its position in Bausch + Lomb by 100.0% during the first quarter. Sei Investments Co. now owns 139,266 shares of the company's stock worth $2,214,000 after buying an additional 69,633 shares during the last quarter. Engineers Gate Manager LP bought a new position in Bausch + Lomb during the second quarter valued at about $1,479,000. Finally, Dimensional Fund Advisors LP raised its holdings in Bausch + Lomb by 13.2% during the first quarter. Dimensional Fund Advisors LP now owns 85,779 shares of the company's stock valued at $1,362,000 after buying an additional 9,971 shares in the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BLCO has been the topic of several recent analyst reports. Evercore set a $17.00 price target on Bausch + Lomb in a research report on Monday, July 6th. Needham & Company LLC restated a "hold" rating on shares of Bausch + Lomb in a research report on Tuesday, September 15th. Barclays raised Bausch + Lomb to a "strong-buy" rating in a research note on Wednesday, October 7th. JPMorgan Chase & Co. upped their target price on Bausch + Lomb from $16.00 to $22.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Leerink Partners started coverage on shares of Bausch + Lomb in a research report on Wednesday, September 9th. They issued an "outperform" rating and a $24.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Bausch + Lomb currently has an average rating of "Hold" and an average target price of $20.83.

About Bausch + Lomb

Bausch + Lomb Corporation NYSE: BLCO is a global eye-health company that develops, manufactures and markets products for vision care, ophthalmic pharmaceuticals and eye surgery. The company serves consumers, eye-care professionals, hospitals and surgical centers through a portfolio spanning contact lenses, contact-lens care products, prescription medicines, over-the-counter eye-care products and surgical equipment.

Its vision-care portfolio includes the Biotrue and INFUSE contact-lens brands, as well as solutions and other products used to clean and maintain contact lenses.

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