Bausch + Lomb Co. (NYSE:BLCO) Short Interest Up 5.6% in October

Bausch + Lomb Co. (NYSE:BLCO) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 1,520,000 shares, an increase 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 currently 2.0 days. Approximately 3.9% of the shares of the company are short sold.

Bausch + Lomb Price Performance

NYSE:BLCO traded up $0.32 during mid-day trading on Friday, hitting $20.60. 60,945 shares of the stock traded hands, compared to its average volume of 567,606. The business’s 50-day moving average price is $18.52 and its 200 day moving average price is $16.41. Bausch + Lomb has a 12-month low of $13.16 and a 12-month high of $21.69. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.65 and a quick ratio of 1.01.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Evercore raised their price target on Bausch + Lomb from $15.50 to $17.00 and gave the company an “in-line” rating in a report on Thursday, August 1st. Raymond James began coverage on Bausch + Lomb in a research note on Wednesday, July 10th. They issued an “outperform” rating and a $19.00 price target for the company. Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a research report on Thursday. Citigroup lifted their target price on Bausch + Lomb from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Stifel Nicolaus boosted their price target on Bausch + Lomb from $16.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.91.

Insider Transactions at Bausch + Lomb

In other news, CEO Brent L. Saunders bought 32,250 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $15.66 per share, with a total value of $505,035.00. Following the acquisition, the chief executive officer now owns 595,169 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this link. 0.15% of the stock is owned by insiders.

Hedge Funds Weigh In On Bausch + Lomb

Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. increased its stake in shares of Bausch + Lomb by 14,052.2% during the second quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock valued at $47,000 after purchasing an additional 3,232 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Bausch + Lomb during the second quarter valued at approximately $173,000. Fore Capital LLC purchased a new stake in Bausch + Lomb during the 1st quarter valued at $384,000. Renaissance Capital LLC raised its stake in shares of Bausch + Lomb by 57.2% in the second quarter. Renaissance Capital LLC now owns 36,286 shares of the company’s stock worth $527,000 after purchasing an additional 13,210 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Bausch + Lomb during the second quarter valued at $580,000. 11.07% of the stock is owned by institutional investors.

Bausch + Lomb Company 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.