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 business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $16.58, for a total transaction of $100,458.22. Following the sale, the director directly owned 63,733 shares of the company’s stock, valued at approximately $1,056,693.14. This represents a 8.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Bausch + Lomb Stock Performance

Shares of Bausch + Lomb stock traded up $0.02 on Monday, reaching $16.80. 324,953 shares of the company were exchanged, compared to its average volume of 443,694. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of -35.00, a P/E/G ratio of 0.54 and a beta of 0.55. Bausch + Lomb Corporation has a 1-year low of $13.53 and a 1-year high of $18.92. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.02 and a current ratio of 1.55. The company’s 50-day moving average is $16.05 and its two-hundred day moving average is $16.39.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BLCO. Caitong International Asset Management Co. Ltd raised its stake in shares of 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 purchasing an additional 1,136 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in 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 buying an additional 2,042 shares in the last quarter. Royal Bank of Canada grew its position in 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 buying an additional 1,468 shares in the last quarter. Wells Fargo & Company MN increased its stake in 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 buying an additional 1,403 shares during the period. Finally, Invesco Ltd. acquired a new position in Bausch + Lomb during the 4th quarter valued at about $178,000. 11.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.