Ballast Asset Management LP Sells 7,336 Shares of Bausch + Lomb Co. (NYSE:BLCO)

Ballast Asset Management LP reduced its stake in Bausch + Lomb Co. (NYSE:BLCO) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 213,987 shares of the company’s stock after selling 7,336 shares during the period. Bausch + Lomb makes up 2.2% of Ballast Asset Management LP’s portfolio, making the stock its 17th largest holding. Ballast Asset Management LP’s holdings in Bausch + Lomb were worth $4,288,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Arrowstreet Capital Limited Partnership grew its position 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. Orion Portfolio Solutions LLC purchased a new position in Bausch + Lomb during the 4th quarter valued at approximately $225,000. Commonwealth Equity Services LLC bought a new stake in Bausch + Lomb in the 4th quarter worth approximately $181,000. Fore Capital LLC raised its holdings in shares of Bausch + Lomb by 9.5% during the 4th quarter. Fore Capital LLC now owns 57,614 shares of the company’s stock worth $1,041,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Bausch + Lomb during the 4th quarter valued at approximately $2,844,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Bausch + Lomb Price Performance

Shares of BLCO stock opened at $14.50 on Tuesday. The stock has a 50 day moving average price of $16.17 and a 200 day moving average price of $18.10. The firm has a market capitalization of $5.11 billion, a P/E ratio of -15.93, a P/E/G ratio of 0.85 and a beta of 0.49. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.60. Bausch + Lomb Co. has a 52-week low of $13.16 and a 52-week high of $21.69.

Bausch + Lomb (NYSE:BLCO) last released its earnings results on Wednesday, February 19th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.26 billion. Bausch + Lomb had a positive return on equity of 3.35% and a negative net margin of 6.62%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. As a group, sell-side analysts predict that Bausch + Lomb Co. will post 0.74 earnings per share for the current year.

Analyst Ratings Changes

BLCO has been the topic of several research reports. Citigroup cut shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $24.00 to $22.00 in a research report on Wednesday, December 11th. Bank of America decreased their target price on shares of Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating on the stock in a research report on Thursday, February 20th. Stifel Nicolaus dropped their price target on Bausch + Lomb from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th. Royal Bank of Canada decreased their price objective on Bausch + Lomb from $22.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Finally, HC Wainwright reiterated a “buy” rating and issued a $23.00 target price on shares of Bausch + Lomb in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Bausch + Lomb currently has a consensus rating of “Hold” and a consensus target price of $19.18.

Bausch + Lomb Company 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.