Bausch + Lomb Corporation $BLCO Position Raised by Compass Rose Asset Management LP

Compass Rose Asset Management LP lifted its position in shares of Bausch + Lomb Corporation (NYSE:BLCO) by 22.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,000,000 shares of the company’s stock after purchasing an additional 180,000 shares during the quarter. Bausch + Lomb accounts for approximately 2.5% of Compass Rose Asset Management LP’s portfolio, making the stock its 9th largest holding. Compass Rose Asset Management LP’s holdings in Bausch + Lomb were worth $15,070,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BLCO. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Bausch + Lomb by 729.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the company’s stock valued at $30,000 after purchasing an additional 2,042 shares during the period. Jones Financial Companies Lllp grew its position in Bausch + Lomb by 55.3% during the third quarter. Jones Financial Companies Lllp now owns 9,112 shares of the company’s stock valued at $132,000 after buying an additional 3,246 shares during the period. JPMorgan Chase & Co. purchased a new position in Bausch + Lomb in the second quarter valued at $200,000. Handelsbanken Fonder AB acquired a new position in shares of Bausch + Lomb in the second quarter worth about $202,000. Finally, Mission Wealth Management LP acquired a new position in shares of Bausch + Lomb in the third quarter worth about $210,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bausch + Lomb

In other news, CEO Brent L. Saunders purchased 14,700 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was purchased at an average cost of $17.14 per share, for a total transaction of $251,958.00. Following the completion of the transaction, the chief executive officer owned 966,575 shares of the company’s stock, valued at $16,567,095.50. This trade represents a 1.54% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sam Eldessouky acquired 4,000 shares of Bausch + Lomb stock in a transaction that occurred on Friday, March 6th. The stock was purchased at an average cost of $17.13 per share, with a total value of $68,520.00. Following the completion of the purchase, the chief financial officer owned 403,130 shares in the company, valued at $6,905,616.90. The trade was a 1.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 33,300 shares of company stock valued at $570,868 over the last quarter. 0.76% of the stock is currently owned by insiders.

Bausch + Lomb Stock Down 2.2%

BLCO stock opened at $16.21 on Friday. The stock has a market capitalization of $5.76 billion, a P/E ratio of -15.89, a P/E/G ratio of 0.68 and a beta of 0.58. The firm has a 50-day simple moving average of $17.27 and a 200-day simple moving average of $16.22. The company has a quick ratio of 1.04, a current ratio of 1.55 and a debt-to-equity ratio of 0.77. Bausch + Lomb Corporation has a 52 week low of $10.45 and a 52 week high of $18.92.

Bausch + Lomb (NYSE:BLCO) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Bausch + Lomb had a negative net margin of 7.06% and a positive return on equity of 2.77%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the business posted $0.25 earnings per share. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts forecast that Bausch + Lomb Corporation will post 0.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BLCO shares. Citigroup raised their target price on Bausch + Lomb from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Stifel Nicolaus set a $16.00 price target on Bausch + Lomb in a report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $18.00 price target on shares of Bausch + Lomb in a research report on Thursday, February 19th. The Goldman Sachs Group reissued a “neutral” rating and issued a $19.00 price objective on shares of Bausch + Lomb in a report on Friday, January 9th. Finally, Wells Fargo & Company upped their target price on Bausch + Lomb from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 19th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $18.25.

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.