  We study the three dimensional O(N) invariant bosonic vector model with a
$\frac{\lambda}{N}(\phi^{a}\phi^{a})^{2}$ interaction at its infrared fixed
point, using a bilocal field approach and in an $1/N$ expansion. We identify a
(negative energy squared) bound state in its spectrum about the large $N$
conformal background. At the critical point this is identified with the
$\Delta=2$ state. We further demonstrate that at the critical point the
$\Delta=1$ state disappears from the spectrum.
