Bausch + Lomb (NYSE:BLCO) CAO Frederick Munsch Sells 52,900 Shares of Stock

Bausch + Lomb Corporation (NYSE:BLCO) CAO Frederick Munsch sold 52,900 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.78, for a total transaction of $887,662.00. Following the transaction, the chief accounting officer directly owned 45,831 shares in the company, valued at approximately $769,044.18. The trade was a 53.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Bausch + Lomb Trading Down 0.4%

Shares of BLCO traded down $0.06 during trading hours on Wednesday, reaching $16.81. 387,573 shares of the company traded hands, compared to its average volume of 437,741. Bausch + Lomb Corporation has a 12 month low of $13.77 and a 12 month high of $18.92. The company has a quick ratio of 1.02, a current ratio of 1.55 and a debt-to-equity ratio of 0.79. The company’s fifty day moving average price is $16.13 and its two-hundred day moving average price is $16.39. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of -35.02, a price-to-earnings-growth ratio of 0.55 and a beta of 0.56.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BLCO shares. UBS Group started coverage on Bausch + Lomb in a research note on Thursday, July 30th. They issued a “buy” rating and a $21.00 price target on the stock. Wall Street Zen raised Bausch + Lomb from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. HC Wainwright raised their price objective on Bausch + Lomb from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Evercore set a $17.00 target price on Bausch + Lomb in a report on Monday, July 6th. Finally, Weiss Ratings cut Bausch + Lomb from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 7th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.75.

Institutional Trading of Bausch + Lomb

Several institutional investors have recently added to or reduced their stakes in the business. Glenview Capital Management LLC raised its stake in Bausch + Lomb by 210.8% during the 2nd quarter. Glenview Capital Management LLC now owns 1,553,855 shares of the company’s stock valued at $20,216,000 after purchasing an additional 1,053,855 shares during the period. Davidson Kempner Capital Management LP bought a new position in Bausch + Lomb in the 3rd quarter worth approximately $14,776,000. Woodline Partners LP grew its holdings in Bausch + Lomb by 175.3% during the 3rd quarter. Woodline Partners LP now owns 861,053 shares of the company’s stock valued at $12,976,000 after buying an additional 548,230 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Bausch + Lomb by 428.7% in the first quarter. Goldman Sachs Group Inc. now owns 299,671 shares of the company’s stock worth $4,345,000 after buying an additional 242,993 shares in the last quarter. Finally, Whitebox Advisors LLC boosted its position in shares of Bausch + Lomb by 15.8% during the first quarter. Whitebox Advisors LLC now owns 1,101,854 shares of the company’s stock worth $17,519,000 after acquiring an additional 150,641 shares during the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

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.