LMR Partners LLP Sells 57,974 Shares of Bausch + Lomb Co. (NYSE:BLCO)

LMR Partners LLP decreased its stake in Bausch + Lomb Co. (NYSE:BLCO) by 38.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,666 shares of the company’s stock after selling 57,974 shares during the period. LMR Partners LLP’s holdings in Bausch + Lomb were worth $1,768,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BLCO. Blue Trust Inc. grew its holdings in shares of Bausch + Lomb by 14,052.2% in the 2nd quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock valued at $47,000 after acquiring an additional 3,232 shares in the last quarter. Squarepoint Ops LLC bought a new position in Bausch + Lomb during the second quarter worth about $173,000. Renaissance Capital LLC lifted its position in Bausch + Lomb by 57.2% during the second quarter. Renaissance Capital LLC now owns 36,286 shares of the company’s stock worth $527,000 after acquiring an additional 13,210 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Bausch + Lomb during the second quarter worth approximately $580,000. Finally, Fore Capital LLC lifted its position in Bausch + Lomb by 90.2% during the second quarter. Fore Capital LLC now owns 42,180 shares of the company’s stock worth $612,000 after acquiring an additional 20,000 shares during the last quarter. Institutional investors own 11.07% of the company’s stock.

Bausch + Lomb Price Performance

Shares of NYSE BLCO opened at $19.76 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69. Bausch + Lomb Co. has a 1-year low of $13.16 and a 1-year high of $21.69. The firm has a market capitalization of $6.96 billion, a P/E ratio of -18.82, a P/E/G ratio of 1.92 and a beta of 0.46. The firm’s 50-day moving average price is $19.43 and its 200-day moving average price is $16.90.

Bausch + Lomb (NYSE:BLCO) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.17%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the business posted $0.22 EPS. The firm’s revenue was up 18.8% compared to the same quarter last year. Equities research analysts anticipate that Bausch + Lomb Co. will post 0.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BLCO shares. Evercore ISI upgraded shares of Bausch + Lomb from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $19.00 to $25.00 in a research report on Tuesday, October 15th. HC Wainwright boosted their target price on shares of Bausch + Lomb from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Bausch + Lomb from $14.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Evercore boosted their price objective on shares of Bausch + Lomb from $15.50 to $17.00 and gave the stock an “in-line” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.91.

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.