Hara Capital LLC Reduces Position in Bausch + Lomb Co. (NYSE:BLCO)

Hara Capital LLC trimmed its holdings in shares of Bausch + Lomb Co. (NYSE:BLCO) by 23.2% during the fourth quarter, Holdings Channel reports. The fund owned 7,806 shares of the company’s stock after selling 2,355 shares during the quarter. Hara Capital LLC’s holdings in Bausch + Lomb were worth $141,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Blue Trust Inc. increased its position in shares of Bausch + Lomb by 68.3% during the fourth quarter. Blue Trust Inc. now owns 2,474 shares of the company’s stock worth $48,000 after acquiring an additional 1,004 shares during the last quarter. State Street Corp boosted its stake in Bausch + Lomb by 5.6% in the third quarter. State Street Corp now owns 28,450 shares of the company’s stock valued at $549,000 after acquiring an additional 1,510 shares during the period. HighTower Advisors LLC boosted its stake in Bausch + Lomb by 14.7% in the third quarter. HighTower Advisors LLC now owns 24,661 shares of the company’s stock valued at $476,000 after acquiring an additional 3,164 shares during the period. FNY Investment Advisers LLC acquired a new position in Bausch + Lomb in the fourth quarter valued at approximately $72,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Bausch + Lomb by 80.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 29,755 shares of the company’s stock valued at $576,000 after acquiring an additional 13,302 shares during the period. 11.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, October 31st. Wells Fargo & Company decreased their target price on Bausch + Lomb from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Royal Bank of Canada decreased their target price on Bausch + Lomb from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Citigroup downgraded Bausch + Lomb from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $24.00 to $22.00 in a research report on Wednesday, December 11th. Finally, Morgan Stanley downgraded Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price objective for the company. in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.25.

Bausch + Lomb Stock Performance

BLCO opened at $16.44 on Tuesday. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of -15.65, a price-to-earnings-growth ratio of 2.13 and a beta of 0.46. 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 1-year low of $13.16 and a 1-year high of $21.69. The business has a 50 day moving average price of $17.59 and a two-hundred day moving average price of $18.16.

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.