LMR Partners LLP Trims Stake in Bausch + Lomb Co. (NYSE:BLCO)

LMR Partners LLP trimmed its holdings in shares of Bausch + Lomb Co. (NYSE:BLCO - Free Report) by 38.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 91,666 shares of the company's stock after selling 57,974 shares during the quarter. LMR Partners LLP's holdings in Bausch + Lomb were worth $1,768,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BLCO. Blue Trust Inc. increased its stake in shares of Bausch + Lomb by 14,052.2% in the 2nd quarter. Blue Trust Inc. now owns 3,255 shares of the company's stock worth $47,000 after purchasing an additional 3,232 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Bausch + Lomb during the 2nd quarter valued at about $173,000. Renaissance Capital LLC grew its stake in shares of Bausch + Lomb by 57.2% during the 2nd quarter. Renaissance Capital LLC now owns 36,286 shares of the company's stock valued at $527,000 after acquiring an additional 13,210 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Bausch + Lomb in the 2nd quarter worth approximately $580,000. Finally, Fore Capital LLC raised its stake in Bausch + Lomb by 90.2% during the 2nd quarter. Fore Capital LLC now owns 42,180 shares of the company's stock worth $612,000 after acquiring an additional 20,000 shares during the period. 11.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BLCO. Stifel Nicolaus increased their price objective on shares of Bausch + Lomb from $16.00 to $19.00 and gave the stock a "hold" rating in a research note on Monday, September 23rd. Wells Fargo & Company boosted their price objective on Bausch + Lomb from $23.00 to $26.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Evercore increased their target price on Bausch + Lomb from $15.50 to $17.00 and gave the stock an "in-line" rating in a research report on Thursday, August 1st. Royal Bank of Canada boosted their price target on Bausch + Lomb from $20.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Finally, HC Wainwright upped their price target on Bausch + Lomb from $22.00 to $23.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Bausch + Lomb currently has an average rating of "Moderate Buy" and an average price target of $20.91.

Bausch + Lomb Price Performance

BLCO stock traded down $0.21 during trading on Tuesday, hitting $19.55. 285,290 shares of the company's stock traded hands, compared to its average volume of 564,985. Bausch + Lomb Co. has a 52 week low of $13.16 and a 52 week high of $21.69. The business has a fifty day simple moving average of $19.43 and a 200 day simple moving average of $16.90. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.57 and a quick ratio of 0.95.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. Bausch + Lomb had a positive return on equity of 3.17% and a negative net margin of 7.86%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the business posted $0.22 earnings per share. The firm's revenue was up 18.8% on a year-over-year basis. On average, equities analysts forecast that Bausch + Lomb Co. will post 0.59 EPS for the current year.

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.