Goldentree Asset Management LP Sells 1,745,693 Shares of Bausch + Lomb Co. (NYSE:BLCO)

Goldentree Asset Management LP decreased its holdings in shares of Bausch + Lomb Co. (NYSE:BLCO) by 34.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,355,437 shares of the company’s stock after selling 1,745,693 shares during the quarter. Bausch + Lomb makes up 5.2% of Goldentree Asset Management LP’s holdings, making the stock its 5th biggest position. Goldentree Asset Management LP owned about 0.95% of Bausch + Lomb worth $64,600,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. River Road Asset Management LLC boosted its holdings in shares of Bausch + Lomb by 4.4% during the third quarter. River Road Asset Management LLC now owns 2,020,414 shares of the company’s stock worth $38,974,000 after acquiring an additional 85,987 shares during the period. Point72 Europe London LLP boosted its stake in Bausch + Lomb by 28.9% in the 2nd quarter. Point72 Europe London LLP now owns 653,492 shares of the company’s stock valued at $9,489,000 after purchasing an additional 146,583 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Bausch + Lomb in the 2nd quarter valued at $580,000. Clearline Capital LP increased its position in Bausch + Lomb by 136.8% during the 2nd quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock worth $10,339,000 after buying an additional 411,404 shares during the period. Finally, Gabelli Funds LLC increased its position in Bausch + Lomb by 25.0% during the 2nd quarter. Gabelli Funds LLC now owns 390,000 shares of the company’s stock worth $5,663,000 after buying an additional 78,000 shares during the period. 11.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BLCO has been the topic of a number of recent analyst reports. Evercore raised their price target 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. Deutsche Bank Aktiengesellschaft boosted their price objective on Bausch + Lomb from $14.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Wells Fargo & Company lifted their target price on shares of Bausch + Lomb from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a report on Thursday, October 31st. Finally, Stifel Nicolaus increased their price objective on Bausch + Lomb from $16.00 to $19.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.91.

Bausch + Lomb Price Performance

NYSE:BLCO opened at $19.97 on Friday. 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 Co. has a one year low of $13.16 and a one year high of $21.69. The firm has a 50-day moving average of $19.80 and a 200-day moving average of $17.12.

Bausch + Lomb (NYSE:BLCO) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company posted $0.22 EPS. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. As a group, analysts anticipate that Bausch + Lomb Co. will post 0.6 earnings per share for the current fiscal 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.