Clearline Capital LP Trims Position in Bausch + Lomb Corporation $BLCO

Clearline Capital LP trimmed its holdings in Bausch + Lomb Corporation (NYSE:BLCO) by 9.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 827,568 shares of the company’s stock after selling 89,474 shares during the quarter. Clearline Capital LP’s holdings in Bausch + Lomb were worth $14,135,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in BLCO. Glenview Capital Management LLC raised its holdings in shares of Bausch + Lomb by 210.8% in the second quarter. Glenview Capital Management LLC now owns 1,553,855 shares of the company’s stock valued at $20,216,000 after buying an additional 1,053,855 shares during the last quarter. Davidson Kempner Capital Management LP purchased a new stake in shares of Bausch + Lomb in the third quarter valued at about $14,776,000. Oaktree Capital Management LP raised its holdings in shares of Bausch + Lomb by 28.7% in the third quarter. Oaktree Capital Management LP now owns 3,245,439 shares of the company’s stock valued at $48,909,000 after buying an additional 724,194 shares during the last quarter. Woodline Partners LP raised its holdings in shares of Bausch + Lomb by 175.3% in the third quarter. Woodline Partners LP now owns 861,053 shares of the company’s stock valued at $12,976,000 after buying an additional 548,230 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Bausch + Lomb by 428.7% in the first quarter. Goldman Sachs Group Inc. now owns 299,671 shares of the company’s stock valued at $4,345,000 after buying an additional 242,993 shares during the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on BLCO. Weiss Ratings reissued a “sell (d-)” rating on shares of Bausch + Lomb in a report on Monday, April 20th. Stifel Nicolaus set a $16.00 price target on shares of Bausch + Lomb in a report on Thursday, February 19th. Wall Street Zen raised shares of Bausch + Lomb from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Barclays increased their price target on shares of Bausch + Lomb from $17.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, February 19th. Finally, HC Wainwright increased their price target on shares of Bausch + Lomb from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.92.

Bausch + Lomb Stock Performance

NYSE BLCO opened at $14.87 on Thursday. Bausch + Lomb Corporation has a 1-year low of $11.44 and a 1-year high of $18.92. The company has a market capitalization of $5.31 billion, a P/E ratio of -23.98, a PEG ratio of 0.46 and a beta of 0.58. The business has a 50 day moving average price of $15.88 and a 200 day moving average price of $16.58. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.53 and a quick ratio of 0.99.

Bausch + Lomb (NYSE:BLCO) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. Bausch + Lomb had a positive return on equity of 3.60% and a negative net margin of 4.21%.The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the business posted ($0.07) EPS. Bausch + Lomb’s quarterly revenue was up 9.4% on a year-over-year basis. Sell-side analysts expect that Bausch + Lomb Corporation will post 0.82 EPS for the current fiscal year.

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.