Whitebox Advisors LLC Sells 302,701 Shares of Bausch + Lomb Co. (NYSE:BLCO)

Whitebox Advisors LLC reduced its position in shares of Bausch + Lomb Co. (NYSE:BLCO - Free Report) by 19.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,243,245 shares of the company's stock after selling 302,701 shares during the period. Bausch + Lomb makes up about 0.7% of Whitebox Advisors LLC's portfolio, making the stock its 28th biggest holding. Whitebox Advisors LLC owned approximately 0.35% of Bausch + Lomb worth $23,982,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BLCO. Blue Trust Inc. raised its stake in 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 acquired a new position in Bausch + Lomb in the second quarter valued at about $173,000. Polar Asset Management Partners Inc. bought a new stake in Bausch + Lomb during the third quarter worth about $289,000. Verition Fund Management LLC acquired a new stake in Bausch + Lomb during the third quarter worth about $302,000. Finally, HighTower Advisors LLC increased its holdings in Bausch + Lomb by 14.7% in the 3rd quarter. HighTower Advisors LLC now owns 24,661 shares of the company's stock valued at $476,000 after buying an additional 3,164 shares during the period. 11.07% of the stock is owned by institutional investors and hedge funds.

Bausch + Lomb Trading Up 0.8 %

Shares of NYSE:BLCO traded up $0.16 during mid-day trading on Friday, reaching $20.07. 173,320 shares of the company's stock were exchanged, compared to its average volume of 300,886. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.95 and a current ratio of 1.57. Bausch + Lomb Co. has a twelve month low of $13.16 and a twelve month high of $21.69. The firm has a market capitalization of $7.07 billion, a price-to-earnings ratio of -19.11, a PEG ratio of 1.90 and a beta of 0.43. The business's fifty day moving average price is $19.86 and its 200-day moving average price is $17.35.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last announced its 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 firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the business earned $0.22 EPS. The business's quarterly revenue was up 18.8% compared to the same quarter last year. On average, research analysts predict that Bausch + Lomb Co. will post 0.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BLCO shares. Evercore ISI raised shares of Bausch + Lomb from an "in-line" rating to an "outperform" rating and lifted their price objective for the company from $19.00 to $25.00 in a research note on Tuesday, October 15th. Morgan Stanley cut Bausch + Lomb from an "overweight" rating to an "equal weight" rating and set a $19.00 price target for the company. in a report on Monday, December 2nd. Stifel Nicolaus raised their price objective on Bausch + Lomb from $16.00 to $19.00 and gave the company a "hold" rating in a research note on Monday, September 23rd. HC Wainwright boosted their target price on Bausch + Lomb from $22.00 to $23.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company raised their price target on shares of Bausch + Lomb from $23.00 to $26.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $21.00.

Bausch + Lomb Company 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.