Bausch + Lomb Co. (NYSE:BLCO) Sees Large Increase in Short Interest

Bausch + Lomb Co. (NYSE:BLCO) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,860,000 shares, an increase of 52.5% from the February 13th total of 1,220,000 shares. Based on an average daily trading volume, of 631,100 shares, the days-to-cover ratio is presently 2.9 days. Approximately 5.2% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several research firms have commented on BLCO. Citigroup downgraded shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $24.00 to $22.00 in a report on Wednesday, December 11th. Morgan Stanley downgraded Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price target for the company. in a research note on Monday, December 2nd. Stifel Nicolaus decreased their target price on shares of Bausch + Lomb from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, February 20th. Finally, Wells Fargo & Company reduced their price target on shares of Bausch + Lomb from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.00.

Hedge Funds Weigh In On Bausch + Lomb

A number of institutional investors have recently modified their holdings of the company. Blue Trust Inc. increased its stake in Bausch + Lomb by 68.3% during the 4th quarter. Blue Trust Inc. now owns 2,474 shares of the company’s stock valued at $48,000 after purchasing an additional 1,004 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Bausch + Lomb during the 4th quarter valued at about $72,000. Commonwealth Equity Services LLC bought a new stake in Bausch + Lomb during the 4th quarter worth approximately $181,000. Alpine Global Management LLC purchased a new stake in shares of Bausch + Lomb in the fourth quarter worth approximately $181,000. Finally, Covestor Ltd bought a new position in shares of Bausch + Lomb in the fourth quarter valued at approximately $188,000. 11.07% of the stock is owned by institutional investors and hedge funds.

Bausch + Lomb Trading Up 1.0 %

Shares of BLCO traded up $0.15 during trading hours on Friday, hitting $15.34. 278,286 shares of the stock were exchanged, compared to its average volume of 580,306. The business has a 50-day moving average of $16.67 and a 200-day moving average of $18.15. Bausch + Lomb has a fifty-two week low of $13.16 and a fifty-two week high of $21.69. The firm has a market capitalization of $5.41 billion, a P/E ratio of -16.85, a price-to-earnings-growth ratio of 0.85 and a beta of 0.49. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.60 and a quick ratio of 1.01.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.26 billion. Bausch + Lomb had a negative net margin of 6.62% and a positive return on equity of 3.35%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 earnings per share. On average, research analysts expect that Bausch + Lomb will post 0.74 EPS for the current year.

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.