Bausch + Lomb (NYSE:BLCO) CAO Frederick Munsch Sells 112,015 Shares of Stock

Bausch + Lomb Corporation (NYSE:BLCO) CAO Frederick Munsch sold 112,015 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $20.48, for a total value of $2,294,067.20. Following the completion of the sale, the chief accounting officer owned 45,831 shares of the company’s stock, valued at approximately $938,618.88. This trade represents a 70.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Frederick Munsch also recently made the following trade(s):

• On Monday, August 10th, Frederick Munsch sold 52,900 shares of Bausch + Lomb stock. The shares were sold at an average price of $16.78, for a total value of $887,662.00.

Bausch + Lomb Stock Performance

BLCO stock traded up $0.07 during midday trading on Monday, hitting $20.07. 1,507,950 shares of the company traded hands, compared to its average volume of 476,542. Bausch + Lomb Corporation has a twelve month low of $14.44 and a twelve month high of $21.36. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of -64.76, a price-to-earnings-growth ratio of 0.53 and a beta of 0.52. The company has a quick ratio of 1.04, a current ratio of 1.56 and a debt-to-equity ratio of 0.78. The business has a 50 day simple moving average of $17.35 and a 200-day simple moving average of $16.69.

Bausch + Lomb (NYSE:BLCO) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.13. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Bausch + Lomb had a negative net margin of 2.05% and a positive return on equity of 5.01%. Bausch + Lomb’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 earnings per share. As a group, equities research analysts predict that Bausch + Lomb Corporation will post 0.94 earnings per share for the current year.

Hedge Funds Weigh In On Bausch + Lomb

Several large investors have recently bought and sold shares of the stock. Whitebox Advisors LLC raised its stake in Bausch + Lomb by 15.8% during the 1st quarter. Whitebox Advisors LLC now owns 1,101,854 shares of the company’s stock valued at $17,519,000 after purchasing an additional 150,641 shares during the last quarter. Beach Point Capital Management LP acquired a new stake in Bausch + Lomb in the 3rd quarter worth $5,882,000. Sei Investments Co. grew its position in Bausch + Lomb by 100.0% in the 1st quarter. Sei Investments Co. now owns 139,266 shares of the company’s stock worth $2,214,000 after purchasing an additional 69,633 shares during the last quarter. Engineers Gate Manager LP bought a new position in shares of Bausch + Lomb during the 2nd quarter worth about $1,479,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Bausch + Lomb by 13.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 85,779 shares of the company’s stock worth $1,362,000 after purchasing an additional 9,971 shares during the period. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BLCO shares. JPMorgan Chase & Co. upped their price target on shares of Bausch + Lomb from $16.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday. Barclays upgraded Bausch + Lomb to a “strong-buy” rating in a research note on Wednesday, October 7th. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a research report on Tuesday, September 15th. Evercore set a $17.00 target price on Bausch + Lomb in a research note on Monday, July 6th. Finally, UBS Group began coverage on Bausch + Lomb in a report on Thursday, July 30th. They issued a “buy” rating and a $21.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $20.83.

About Bausch + Lomb

Bausch + Lomb Corporation (NYSE: BLCO) is a global eye-health company that develops, manufactures and markets products for vision care, ophthalmic pharmaceuticals and eye surgery. The company serves consumers, eye-care professionals, hospitals and surgical centers through a portfolio spanning contact lenses, contact-lens care products, prescription medicines, over-the-counter eye-care products and surgical equipment.

Its vision-care portfolio includes the Biotrue and INFUSE contact-lens brands, as well as solutions and other products used to clean and maintain contact lenses.