Short Interest in Bausch + Lomb Co. (NYSE:BLCO) Grows By 5.6%

Bausch + Lomb Co. (NYSE:BLCO) was the target of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 1,520,000 shares, a growth of 5.6% from the September 30th total of 1,440,000 shares. Based on an average daily trading volume, of 744,500 shares, the short-interest ratio is presently 2.0 days. Currently, 3.9% of the company’s shares are short sold.

Insider Transactions at Bausch + Lomb

In related news, CEO Brent L. Saunders bought 32,250 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $15.66 per share, for a total transaction of $505,035.00. Following the acquisition, the chief executive officer now owns 595,169 shares of the company’s stock, valued at approximately $9,320,346.54. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.15% of the company’s stock.

Institutional Trading of Bausch + Lomb

Several large investors have recently added to or reduced their stakes in BLCO. Blue Trust Inc. boosted its holdings in shares of Bausch + Lomb by 14,052.2% during the 2nd quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock worth $47,000 after buying an additional 3,232 shares during the period. Squarepoint Ops LLC acquired a new position in Bausch + Lomb during the 2nd quarter valued at $173,000. Fore Capital LLC acquired a new position in Bausch + Lomb during the 1st quarter valued at $384,000. Renaissance Capital LLC raised its stake in Bausch + Lomb by 57.2% during the 2nd quarter. Renaissance Capital LLC now owns 36,286 shares of the company’s stock valued at $527,000 after purchasing an additional 13,210 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Bausch + Lomb during the 2nd quarter valued at $580,000. 11.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on BLCO shares. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a research note on Thursday. HC Wainwright upped their target price on shares of Bausch + Lomb from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday. Citigroup upped their target price on shares of Bausch + Lomb from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday. Raymond James began coverage on shares of Bausch + Lomb in a report on Wednesday, July 10th. They issued an “outperform” rating and a $19.00 price target on the stock. Finally, Evercore ISI raised shares of Bausch + Lomb from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $19.00 to $25.00 in a research note on Tuesday, October 15th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Bausch + Lomb presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.91.

Bausch + Lomb Stock Up 1.1 %

BLCO stock opened at $20.51 on Friday. Bausch + Lomb has a 52-week low of $13.16 and a 52-week high of $21.69. The company’s 50 day simple moving average is $18.61 and its 200-day simple moving average is $16.45. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.65 and a quick ratio of 1.01. The firm has a market capitalization of $7.22 billion, a P/E ratio of -19.53, a P/E/G ratio of 1.90 and a beta of 0.48.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.13 EPS for the quarter, meeting analysts’ consensus estimates of $0.13. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.16%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm posted $0.18 earnings per share. The firm’s revenue was up 17.5% on a year-over-year basis. As a group, equities research analysts anticipate that Bausch + Lomb will post 0.6 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.