Clark Estates Inc. NY Cuts Position in Bausch + Lomb Co. (NYSE:BLCO)

Clark Estates Inc. NY lowered its holdings in Bausch + Lomb Co. (NYSE:BLCO) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 687,500 shares of the company’s stock after selling 31,000 shares during the period. Bausch + Lomb comprises about 2.5% of Clark Estates Inc. NY’s portfolio, making the stock its 9th largest holding. Clark Estates Inc. NY owned 0.20% of Bausch + Lomb worth $13,262,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Clearline Capital LP raised its stake in shares of 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 purchasing an additional 411,404 shares in the last quarter. Whitebox Advisors LLC increased its holdings in Bausch + Lomb by 28.2% during the second quarter. Whitebox Advisors LLC now owns 1,545,946 shares of the company’s stock worth $22,447,000 after buying an additional 339,643 shares during the last quarter. Rokos Capital Management LLP bought a new stake in Bausch + Lomb during the first quarter worth $5,602,000. Point72 Asset Management L.P. lifted its stake in Bausch + Lomb by 31.0% in the second quarter. Point72 Asset Management L.P. now owns 647,156 shares of the company’s stock valued at $9,397,000 after acquiring an additional 153,000 shares during the last quarter. Finally, Point72 Europe London LLP grew its position in shares of 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 acquiring an additional 146,583 shares during the period. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BLCO has been the topic of a number of research analyst reports. Citigroup upped their target price on shares of Bausch + Lomb from $20.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Royal Bank of Canada upped their price objective on Bausch + Lomb from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company raised 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. HC Wainwright boosted their target price on Bausch + Lomb from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Bausch + Lomb from $14.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.91.

Bausch + Lomb Stock Performance

BLCO opened at $19.75 on Wednesday. The stock has a fifty day moving average of $19.78 and a 200-day moving average of $17.07. Bausch + Lomb Co. has a fifty-two week low of $13.16 and a fifty-two week high of $21.69. 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) last released its quarterly earnings results 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 negative net margin of 7.86% and a positive return on equity of 3.17%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the firm earned $0.22 earnings per share. Bausch + Lomb’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, research analysts forecast that Bausch + Lomb Co. will post 0.59 EPS for the current year.

Bausch + Lomb 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.