Bausch + Lomb Corporation (NYSE:BLCO) Short Interest Up 50.7% in March

Bausch + Lomb Corporation (NYSE:BLCO) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 4,006,617 shares, a growth of 50.7% from the February 26th total of 2,659,462 shares. Based on an average trading volume of 422,793 shares, the short-interest ratio is presently 9.5 days. Approximately 1.1% of the shares of the company are short sold.

Analysts Set New Price Targets

Several research analysts recently commented on BLCO shares. Evercore set a $18.00 target price on shares of Bausch + Lomb and gave the stock an “in-line” rating in a report on Monday, January 5th. Wall Street Zen downgraded Bausch + Lomb from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $19.00 price objective on shares of Bausch + Lomb in a research note on Friday, January 9th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $18.00 price objective on shares of Bausch + Lomb in a research report on Thursday, February 19th. Finally, Stifel Nicolaus set a $16.00 target price on Bausch + Lomb in a research note on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $18.25.

Insider Buying and Selling

In related news, EVP A Robert D. Bailey bought 14,600 shares of Bausch + Lomb stock in a transaction that occurred on Friday, March 6th. The stock was purchased at an average cost of $17.15 per share, for a total transaction of $250,390.00. Following the acquisition, the executive vice president owned 231,890 shares in the company, valued at $3,976,913.50. This trade represents a 6.72% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brent L. Saunders purchased 14,700 shares of the stock in a transaction on Friday, March 6th. The shares were bought at an average price of $17.14 per share, for a total transaction of $251,958.00. Following the acquisition, the chief executive officer owned 966,575 shares of the company’s stock, valued at approximately $16,567,095.50. The trade was a 1.54% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 33,300 shares of company stock worth $570,868. 0.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bausch + Lomb

A number of hedge funds and other institutional investors have recently made changes to their positions in BLCO. Caitong International Asset Management Co. Ltd increased its stake in Bausch + Lomb by 104.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,227 shares of the company’s stock valued at $38,000 after acquiring an additional 1,136 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Bausch + Lomb by 729.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the company’s stock worth $30,000 after purchasing an additional 2,042 shares during the period. Wells Fargo & Company MN boosted its holdings in Bausch + Lomb by 31.2% during the fourth quarter. Wells Fargo & Company MN now owns 5,903 shares of the company’s stock valued at $101,000 after purchasing an additional 1,403 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Bausch + Lomb by 55.3% during the third quarter. Jones Financial Companies Lllp now owns 9,112 shares of the company’s stock valued at $132,000 after purchasing an additional 3,246 shares in the last quarter. Finally, Invesco Ltd. bought a new stake in shares of Bausch + Lomb in the 4th quarter valued at approximately $178,000. 11.07% of the stock is owned by institutional investors.

Bausch + Lomb Stock Performance

BLCO opened at $15.38 on Monday. The stock’s 50 day simple moving average is $17.02 and its 200-day simple moving average is $16.31. The company has a current ratio of 1.55, a quick ratio of 1.04 and a debt-to-equity ratio of 0.77. The stock has a market cap of $5.46 billion, a PE ratio of -15.08, a P/E/G ratio of 0.64 and a beta of 0.58. Bausch + Lomb has a 1 year low of $10.45 and a 1 year high of $18.92.

Bausch + Lomb (NYSE:BLCO) last issued its earnings results on Wednesday, February 18th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). Bausch + Lomb had a positive return on equity of 2.77% and a negative net margin of 7.06%.The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the business earned $0.25 earnings per share. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Sell-side analysts forecast 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.