Insider Selling: Bausch + Lomb (NYSE:BLCO) CAO Sells $887,662.00 in Stock

Bausch + Lomb Corporation (NYSE:BLCO) CAO Frederick Munsch sold 52,900 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.78, for a total transaction of $887,662.00. Following the transaction, the chief accounting officer directly owned 45,831 shares in the company, valued at $769,044.18. This represents a 53.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Bausch + Lomb Trading Up 0.3%

Shares of NYSE:BLCO opened at $17.04 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.55 and a quick ratio of 1.02. Bausch + Lomb Corporation has a 1 year low of $13.77 and a 1 year high of $18.92. The company has a market capitalization of $6.09 billion, a P/E ratio of -35.50, a P/E/G ratio of 0.55 and a beta of 0.56. The business’s 50 day simple moving average is $16.19 and its 200 day simple moving average is $16.39.

Analyst Ratings Changes

BLCO has been the subject of a number of research reports. Citigroup increased their target price 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. Weiss Ratings lowered shares of Bausch + Lomb from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 7th. Wall Street Zen upgraded shares of Bausch + Lomb from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. HC Wainwright upped their price objective on shares of Bausch + Lomb from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Finally, UBS Group began coverage on shares of Bausch + Lomb in a research note on Thursday, July 30th. They issued a “buy” rating and a $21.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $18.75.

Institutional Trading of Bausch + Lomb

Institutional investors and hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd raised its position in Bausch + Lomb by 104.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,227 shares of the company’s stock worth $38,000 after purchasing an additional 1,136 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position 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 buying an additional 2,042 shares during the last quarter. Royal Bank of Canada grew its position 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 buying an additional 1,468 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Bausch + Lomb by 31.2% in the fourth 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. bought a new position in shares of Bausch + Lomb during the fourth quarter worth about $178,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.