Insider Selling: Bausch + Lomb (NYSE:BLCO) Director Sells $100,458.22 in Stock

Bausch + Lomb Corporation (NYSE:BLCO) Director Eschenbach Andrew Von sold 6,059 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $16.58, for a total transaction of $100,458.22. Following the completion of the transaction, the director owned 63,733 shares of the company’s stock, valued at $1,056,693.14. This trade represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Bausch + Lomb Stock Up 0.1%

BLCO traded up $0.02 during trading hours on Monday, reaching $16.80. 324,953 shares of the stock traded hands, compared to its average volume of 443,694. Bausch + Lomb Corporation has a fifty-two week low of $13.53 and a fifty-two week high of $18.92. The company has a market cap of $6.00 billion, a price-to-earnings ratio of -35.00, a PEG ratio of 0.54 and a beta of 0.55. 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 firm’s fifty day simple moving average is $16.05 and its two-hundred day simple moving average is $16.39.

Hedge Funds Weigh In On Bausch + Lomb

A number of hedge funds have recently bought and sold shares of BLCO. Caitong International Asset Management Co. Ltd raised its stake in Bausch + Lomb by 104.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,227 shares of the company’s stock valued at $38,000 after buying an additional 1,136 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings 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 valued at $30,000 after acquiring an additional 2,042 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Bausch + Lomb by 67.1% in the 1st quarter. Royal Bank of Canada now owns 3,657 shares of the company’s stock valued at $58,000 after acquiring an additional 1,468 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Bausch + Lomb by 31.2% during the 4th quarter. Wells Fargo & Company MN now owns 5,903 shares of the company’s stock valued at $101,000 after acquiring an additional 1,403 shares in the last quarter. Finally, Invesco Ltd. acquired a new stake in shares of Bausch + Lomb during the 4th quarter valued at approximately $178,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BLCO shares. HC Wainwright lifted their target price on Bausch + Lomb from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft set a $16.00 price target on Bausch + Lomb in a report on Thursday, April 30th. UBS Group began coverage on Bausch + Lomb in a report on Thursday, July 30th. They set a “buy” rating and a $21.00 price objective on the stock. Weiss Ratings lowered Bausch + Lomb from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday. Finally, Citigroup increased their target price on Bausch + Lomb from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.75.

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.