Ratan Capital Management LP Decreases Holdings in Bausch + Lomb Corporation $BLCO

Ratan Capital Management LP reduced its holdings in shares of Bausch + Lomb Corporation (NYSE:BLCO) by 28.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 383,710 shares of the company’s stock after selling 153,058 shares during the quarter. Bausch + Lomb makes up 2.1% of Ratan Capital Management LP’s investment portfolio, making the stock its 15th biggest holding. Ratan Capital Management LP’s holdings in Bausch + Lomb were worth $6,354,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BLCO. Northwestern Mutual Wealth Management Co. raised its position in shares of Bausch + Lomb by 729.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the company’s stock worth $30,000 after acquiring an additional 2,042 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Bausch + Lomb by 104.1% during the fourth 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 during the last quarter. Royal Bank of Canada boosted its holdings 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 purchasing an additional 1,468 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Bausch + Lomb by 31.2% in the fourth 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 in the last quarter. Finally, Focus Partners Wealth purchased a new position in Bausch + Lomb in the third quarter valued at approximately $170,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Bausch + Lomb Price Performance

Bausch + Lomb stock opened at $17.13 on Friday. The stock has a 50 day moving average of $16.61 and a two-hundred day moving average of $16.43. Bausch + Lomb Corporation has a twelve month low of $13.77 and a twelve month high of $18.92. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of -35.69, a PEG ratio of 0.54 and a beta of 0.56. The company has a current ratio of 1.55, a quick ratio of 1.02 and a debt-to-equity ratio of 0.79.

Bausch + Lomb (NYSE:BLCO) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01). Bausch + Lomb had a positive return on equity of 4.14% and a negative net margin of 3.21%.The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the company earned ($0.18) EPS. Bausch + Lomb’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, research analysts expect that Bausch + Lomb Corporation will post 0.81 earnings per share for the current year.

Insider Buying and Selling at Bausch + Lomb

In related news, CAO Frederick Munsch sold 52,900 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $16.78, for a total transaction of $887,662.00. Following the completion of the transaction, the chief accounting officer directly owned 45,831 shares of the company’s stock, valued at $769,044.18. This represents a 53.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Eschenbach Andrew C. Von sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $16.50, for a total value of $206,250.00. Following the transaction, the director owned 69,792 shares in the company, valued at $1,151,568. The trade was a 15.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 71,459 shares of company stock worth $1,194,370 over the last three months. 1.45% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Citigroup raised their price objective on shares of Bausch + Lomb from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. HC Wainwright restated a “buy” rating and issued a $21.00 target price on shares of Bausch + Lomb in a report on Friday. UBS Group began coverage on shares of Bausch + Lomb in a research report on Thursday, July 30th. They issued a “buy” rating and a $21.00 target price on the stock. Weiss Ratings upgraded shares of Bausch + Lomb from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st. Finally, Evercore set a $17.00 price target on shares of Bausch + Lomb in a research report on Monday, July 6th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bausch + Lomb currently has an average rating of “Hold” and an average target price of $18.75.

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.