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

Bausch + Lomb Corporation (NYSE:BLCO) CAO Frederick Munsch sold 52,900 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.78, for a total value of $887,662.00. Following the completion of the sale, the chief accounting officer owned 45,831 shares in the company, valued at approximately $769,044.18. This trade represents a 53.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Bausch + Lomb Stock Performance

Shares of BLCO stock opened at $17.00 on Friday. Bausch + Lomb Corporation has a 52 week low of $13.77 and a 52 week high of $18.92. The company has a 50-day simple moving average of $16.16 and a 200 day simple moving average of $16.39. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.02 and a current ratio of 1.55. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of -35.42, a PEG ratio of 0.54 and a beta of 0.56.

Wall Street Analysts Forecast Growth

BLCO has been the subject of several recent analyst reports. HC Wainwright upped their target price on Bausch + Lomb from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. UBS Group assumed coverage on shares of Bausch + Lomb in a research report on Thursday, July 30th. They issued a “buy” rating and a $21.00 price target on the stock. Evercore set a $17.00 target price on Bausch + Lomb in a research note on Monday, July 6th. Wall Street Zen upgraded shares of Bausch + Lomb from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Finally, Deutsche Bank Aktiengesellschaft set a $16.00 price objective on Bausch + Lomb in a report on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $18.75.

Institutional Investors Weigh In On Bausch + Lomb

Hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its holdings in Bausch + Lomb by 104.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,227 shares of the company’s stock worth $38,000 after purchasing an additional 1,136 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Bausch + Lomb by 729.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the company’s stock worth $30,000 after buying an additional 2,042 shares in the last quarter. Royal Bank of Canada increased its stake in Bausch + Lomb by 67.1% in the first quarter. Royal Bank of Canada now owns 3,657 shares of the company’s stock valued at $58,000 after acquiring an additional 1,468 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Bausch + Lomb by 31.2% during the 4th quarter. Wells Fargo & Company MN now owns 5,903 shares of the company’s stock valued at $101,000 after purchasing an additional 1,403 shares during the last quarter. Finally, Invesco Ltd. purchased a new position in shares of Bausch + Lomb during the fourth quarter worth approximately $178,000. Institutional investors own 11.07% of the company’s stock.

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.