Walleye Capital LLC Cuts Position in Bausch + Lomb Co. (NYSE:BLCO)

Walleye Capital LLC trimmed its position in Bausch + Lomb Co. (NYSE:BLCO) by 65.8% during the third quarter, HoldingsChannel.com reports. The firm owned 32,780 shares of the company’s stock after selling 63,070 shares during the quarter. Walleye Capital LLC’s holdings in Bausch + Lomb were worth $632,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Blue Trust Inc. raised 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 worth $47,000 after purchasing an additional 3,232 shares during the period. Renaissance Capital LLC raised its holdings in shares of Bausch + Lomb by 20.0% during the 3rd quarter. Renaissance Capital LLC now owns 43,560 shares of the company’s stock valued at $840,000 after buying an additional 7,274 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Bausch + Lomb during the 2nd quarter valued at about $173,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Bausch + Lomb by 80.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 29,755 shares of the company’s stock valued at $576,000 after buying an additional 13,302 shares during the period. Finally, Fore Capital LLC raised its holdings in shares of Bausch + Lomb by 90.2% during the 2nd quarter. Fore Capital LLC now owns 42,180 shares of the company’s stock valued at $612,000 after buying an additional 20,000 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on BLCO shares. Royal Bank of Canada raised their target price on Bausch + Lomb from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a report on Thursday, October 31st. HC Wainwright raised their target price on Bausch + Lomb from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Morgan Stanley downgraded Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price objective on the stock. in a report on Monday, December 2nd. Finally, Citigroup lifted their price objective on Bausch + Lomb from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.00.

Bausch + Lomb Price Performance

Shares of BLCO opened at $20.07 on Friday. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of -19.11, a PEG ratio of 1.90 and a beta of 0.43. The stock has a 50 day moving average of $19.86 and a 200-day moving average of $17.35. 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 52 week low of $13.16 and a 52 week high of $21.69.

Bausch + Lomb (NYSE:BLCO) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. Bausch + Lomb had a positive return on equity of 3.17% and a negative net margin of 7.86%. The business’s revenue was up 18.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 EPS. As a group, analysts forecast that Bausch + Lomb Co. will post 0.6 EPS for the current year.

Bausch + Lomb 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.