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

Bausch + Lomb Co. (NYSE:BLCOGet Free Report) was the recipient of a large increase in short interest in May. As of May 15th, there was short interest totalling 1,880,000 shares, an increase of 5.6% from the April 30th total of 1,780,000 shares. Based on an average daily trading volume, of 475,000 shares, the days-to-cover ratio is currently 4.0 days. Currently, 4.9% of the shares of the stock are sold short.

Bausch + Lomb Price Performance

Shares of Bausch + Lomb stock opened at $15.39 on Tuesday. The firm has a market cap of $5.41 billion, a PE ratio of -16.03, a price-to-earnings-growth ratio of 1.56 and a beta of 0.49. Bausch + Lomb has a 12-month low of $13.16 and a 12-month high of $21.95. The company has a quick ratio of 1.03, a current ratio of 1.70 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $15.20 and its two-hundred day simple moving average is $15.38.

Bausch + Lomb (NYSE:BLCOGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. Bausch + Lomb had a positive return on equity of 3.60% and a negative net margin of 7.81%. Bausch + Lomb’s revenue was up 18.0% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. As a group, equities analysts expect that Bausch + Lomb will post 0.64 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on BLCO. Royal Bank of Canada lowered their price objective on shares of Bausch + Lomb from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Evercore lowered their price objective on shares of Bausch + Lomb from $17.00 to $15.00 and set an “in-line” rating on the stock in a research report on Thursday, May 2nd. Wells Fargo & Company raised their price objective on shares of Bausch + Lomb from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a report on Wednesday, May 1st. Finally, Barclays increased their target price on shares of Bausch + Lomb from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.45.

View Our Latest Analysis on Bausch + Lomb

Institutional Investors Weigh In On Bausch + Lomb

Large investors have recently added to or reduced their stakes in the company. Rokos Capital Management LLP bought a new stake in shares of Bausch + Lomb during the 1st quarter valued at about $5,602,000. Invenomic Capital Management LP bought a new stake in Bausch + Lomb during the 1st quarter valued at approximately $6,817,000. Whitebox Advisors LLC grew its holdings in shares of Bausch + Lomb by 29.3% during the 1st quarter. Whitebox Advisors LLC now owns 1,206,303 shares of the company’s stock worth $20,869,000 after acquiring an additional 273,484 shares during the period. Gabelli Funds LLC raised its position in shares of Bausch + Lomb by 3.3% in the 1st quarter. Gabelli Funds LLC now owns 312,000 shares of the company’s stock worth $5,398,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Fore Capital LLC purchased a new position in shares of Bausch + Lomb in the 1st quarter valued at approximately $384,000. Institutional investors own 11.07% of the company’s stock.

About Bausch + Lomb

(Get Free Report)

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.

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