Gamco Investors INC. ET AL Reduces Stock Holdings in Bausch + Lomb Corporation $BLCO

Gamco Investors INC. ET AL reduced its holdings in Bausch + Lomb Corporation (NYSE:BLCO) by 80.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,000 shares of the company’s stock after selling 68,000 shares during the period. Gamco Investors INC. ET AL’s holdings in Bausch + Lomb were worth $290,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BLCO. Glenview Capital Management LLC boosted its holdings in shares of Bausch + Lomb by 210.8% in the 2nd quarter. Glenview Capital Management LLC now owns 1,553,855 shares of the company’s stock valued at $20,216,000 after acquiring 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 3rd quarter valued at $14,776,000. Oaktree Capital Management LP boosted its holdings in shares of Bausch + Lomb by 28.7% in the 3rd quarter. Oaktree Capital Management LP now owns 3,245,439 shares of the company’s stock valued at $48,909,000 after acquiring an additional 724,194 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of Bausch + Lomb by 175.3% in the 3rd quarter. Woodline Partners LP now owns 861,053 shares of the company’s stock valued at $12,976,000 after acquiring an additional 548,230 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Bausch + Lomb by 428.7% in the 1st 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. 11.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BLCO. Wells Fargo & Company upped their price objective on shares of Bausch + Lomb from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Thursday, February 19th. Stifel Nicolaus set a $16.00 price target on shares of Bausch + Lomb in a report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft set a $16.00 price target on shares of Bausch + Lomb in a report on Thursday, April 30th. 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, Citigroup increased their price target on shares of Bausch + Lomb from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $18.08.

Bausch + Lomb Stock Performance

BLCO opened at $15.95 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.53 and a debt-to-equity ratio of 0.78. The company has a market cap of $5.69 billion, a price-to-earnings ratio of -25.73, a PEG ratio of 0.49 and a beta of 0.59. Bausch + Lomb Corporation has a 52-week low of $10.99 and a 52-week high of $18.92. The firm’s fifty day simple moving average is $16.15 and its two-hundred day simple moving average is $16.60.

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

Insider Buying and Selling at Bausch + Lomb

In other Bausch + Lomb news, EVP A Robert D. Bailey purchased 14,600 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was bought at an average price of $17.15 per share, with a total value of $250,390.00. Following the transaction, the executive vice president directly owned 231,890 shares of the company’s stock, valued at approximately $3,976,913.50. This represents a 6.72% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brent L. Saunders purchased 14,700 shares of the firm’s stock in a transaction that occurred on 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 purchase, the chief executive officer directly owned 966,575 shares of the company’s stock, valued at $16,567,095.50. The trade was a 1.54% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 33,300 shares of company stock worth $570,868 over the last three months. Insiders own 1.45% of the company’s stock.

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.