Key Points
- Chief Accounting Officer Frederick Munsch sold 52,900 Bausch + Lomb shares at an average price of $16.78, generating $887,662. His remaining stake fell to 45,831 shares, a 53.58% reduction.
- Bausch + Lomb shares opened at $16.81, with a market capitalization of approximately $6.0 billion and a 52-week trading range of $13.77 to $18.92.
- Analyst sentiment is mixed but averages a “Hold” rating; five analysts rate the stock Buy, seven Hold, and one Sell, with an average price target of $18.75.
Bausch + Lomb Corporation (NYSE:BLCO - Get Free Report) CAO Frederick Munsch sold 52,900 shares of the firm's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.78, for a total transaction of $887,662.00. Following the completion of the transaction, the chief accounting officer owned 45,831 shares in the company, valued at $769,044.18. The trade was a 53.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Bausch + Lomb Stock Performance
Shares of BLCO opened at $16.81 on Thursday. The company has a market capitalization of $6.00 billion, a PE ratio of -35.02, a price-to-earnings-growth ratio of 0.55 and a beta of 0.56. Bausch + Lomb Corporation has a one year low of $13.77 and a one year high of $18.92. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.55 and a quick ratio of 1.02. The company's fifty day moving average price is $16.13 and its 200 day moving average price is $16.39.
Wall Street Analyst Weigh In
BLCO has been the topic of a number of recent analyst reports. Citigroup lifted their price objective on Bausch + Lomb from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Weiss Ratings downgraded Bausch + Lomb from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, August 7th. HC Wainwright raised their target price on Bausch + Lomb from $20.00 to $21.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Evercore set a $17.00 price target on Bausch + Lomb in a research report on Monday, July 6th. Finally, Deutsche Bank Aktiengesellschaft set a $16.00 price target on Bausch + Lomb in a report on Thursday, April 30th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Bausch + Lomb has an average rating of "Hold" and an average target price of $18.75.
Check Out Our Latest Report on Bausch + Lomb
Hedge Funds Weigh In On Bausch + Lomb
Several large investors have recently added to or reduced their stakes in BLCO. Knights of Columbus Asset Advisors LLC acquired a new stake in Bausch + Lomb during the fourth quarter valued at approximately $605,000. Whitebox Advisors LLC grew its stake in shares of Bausch + Lomb by 15.8% in 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 period. Sei Investments Co. raised its holdings in shares of 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 buying an additional 69,633 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Bausch + Lomb in the 4th quarter worth approximately $787,000. Finally, Bank of America Corp DE lifted its position in shares of Bausch + Lomb by 16.0% during the 1st quarter. Bank of America Corp DE now owns 65,765 shares of the company's stock worth $1,046,000 after buying an additional 9,066 shares during the period. Institutional investors and hedge funds own 11.07% of the company's stock.
About Bausch + Lomb
(
Get Free Report)
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.
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