Soleus Capital Management L.P. Sells 191,500 Shares of Bausch + Lomb Co. (NYSE:BLCO)

Soleus Capital Management L.P. trimmed its stake in Bausch + Lomb Co. (NYSE:BLCO) by 61.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,500 shares of the company’s stock after selling 191,500 shares during the period. Soleus Capital Management L.P.’s holdings in Bausch + Lomb were worth $2,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in BLCO. Blue Trust Inc. raised its holdings in shares of Bausch + Lomb by 68.3% in the fourth quarter. Blue Trust Inc. now owns 2,474 shares of the company’s stock valued at $48,000 after acquiring an additional 1,004 shares in the last quarter. Commonwealth Equity Services LLC purchased a new position in Bausch + Lomb during the 4th quarter valued at about $181,000. Alpine Global Management LLC bought a new stake in shares of Bausch + Lomb in the 4th quarter valued at about $181,000. Covestor Ltd bought a new stake in shares of Bausch + Lomb in the 4th quarter valued at about $188,000. Finally, Orion Portfolio Solutions LLC purchased a new stake in shares of Bausch + Lomb in the 4th quarter worth approximately $225,000. 11.07% of the stock is currently owned by institutional investors.

Bausch + Lomb Stock Performance

Shares of NYSE BLCO opened at $11.77 on Monday. The company has a 50 day simple moving average of $13.03 and a two-hundred day simple moving average of $16.24. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of -12.93, a PEG ratio of 0.85 and a beta of 0.58. The company has a current ratio of 1.60, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72. Bausch + Lomb Co. has a 12 month low of $10.45 and a 12 month high of $21.69.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.10). The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Bausch + Lomb had a negative net margin of 6.62% and a positive return on equity of 3.35%. Bausch + Lomb’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 earnings per share. As a group, analysts predict that Bausch + Lomb Co. will post 0.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BLCO shares. Evercore ISI cut their price objective on shares of Bausch + Lomb from $19.00 to $15.50 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Stifel Nicolaus reduced their price target on Bausch + Lomb from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, April 3rd. Citigroup decreased their price objective on Bausch + Lomb from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. HC Wainwright cut their target price on Bausch + Lomb from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Bausch + Lomb presently has a consensus rating of “Hold” and a consensus price target of $15.50.

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.