UBS Group AG Sells 90,129 Shares of Bausch + Lomb Corporation $BLCO

UBS Group AG decreased its stake in Bausch + Lomb Corporation (NYSE:BLCO) by 16.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 448,909 shares of the company’s stock after selling 90,129 shares during the period. UBS Group AG’s holdings in Bausch + Lomb were worth $7,667,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its holdings in 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 acquiring an additional 242,993 shares during the last quarter. Woodline Partners LP increased its position in Bausch + Lomb by 0.5% during the 1st quarter. Woodline Partners LP now owns 312,823 shares of the company’s stock valued at $4,536,000 after purchasing an additional 1,436 shares during the period. JPMorgan Chase & Co. bought a new position in Bausch + Lomb during the 2nd quarter worth approximately $200,000. Northwestern Mutual Wealth Management Co. lifted its position 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 worth $30,000 after purchasing an additional 2,042 shares during the period. Finally, Jump Financial LLC acquired a new position in shares of Bausch + Lomb in the 2nd quarter worth approximately $313,000. 11.07% of the stock is currently owned by institutional investors.

Bausch + Lomb Stock Performance

NYSE:BLCO opened at $16.10 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.53 and a debt-to-equity ratio of 0.78. Bausch + Lomb Corporation has a twelve month low of $10.99 and a twelve month high of $18.92. The company has a fifty day moving average of $16.24 and a 200-day moving average of $16.58. The firm has a market capitalization of $5.74 billion, a P/E ratio of -25.97, a P/E/G ratio of 0.50 and a beta of 0.59.

Bausch + Lomb (NYSE:BLCO) last issued its earnings results on Wednesday, April 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Bausch + Lomb had a negative net margin of 4.21% and a positive return on equity of 3.60%. Bausch + Lomb’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.07) earnings per share. As a group, sell-side analysts anticipate that Bausch + Lomb Corporation will post 0.82 EPS for the current year.

Insider Activity

In related news, CFO Sam Eldessouky acquired 4,000 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were bought at an average price of $17.13 per share, with a total value of $68,520.00. Following the transaction, the chief financial officer directly owned 403,130 shares of the company’s stock, valued at $6,905,616.90. This trade represents a 1.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brent L. Saunders bought 14,700 shares of Bausch + Lomb stock in a transaction dated Friday, March 6th. The stock was purchased at an average price of $17.14 per share, with a total value of $251,958.00. Following the completion of the purchase, the chief executive officer owned 966,575 shares in the company, valued at $16,567,095.50. This trade represents a 1.54% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 33,300 shares of company stock worth $570,868. Company insiders own 1.45% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Bausch + Lomb from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. Royal Bank Of Canada lifted their target price on shares of Bausch + Lomb from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 27th. Barclays boosted their target price on shares of Bausch + Lomb from $17.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, February 19th. Citigroup increased their price target on Bausch + Lomb from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Finally, Deutsche Bank Aktiengesellschaft set a $16.00 price objective on Bausch + Lomb in a research report on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.08.

About Bausch + Lomb

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.