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

Bausch + Lomb Co. (NYSE:BLCO - Get Free Report) was the recipient of a significant 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 days-to-cover ratio is currently 2.0 days. Currently, 3.9% of the company's shares are sold short.

Bausch + Lomb Stock Down 0.5 %

NYSE BLCO traded down $0.11 on Thursday, hitting $20.33. The stock had a trading volume of 509,173 shares, compared to its average volume of 569,528. The business's fifty day moving average price is $18.44 and its 200 day moving average price is $16.38. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of -15.72, a price-to-earnings-growth ratio of 1.76 and a beta of 0.48. 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 has a 52-week low of $13.16 and a 52-week high of $21.69.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. Bausch + Lomb had a positive return on equity of 3.36% and a negative net margin of 10.15%. The firm'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 earned $0.18 EPS. Equities research analysts anticipate that Bausch + Lomb will post 0.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BLCO has been the subject of a number of research reports. Royal Bank of Canada boosted their price target on Bausch + Lomb from $20.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, October 22nd. Raymond James assumed coverage on Bausch + Lomb in a research note on Wednesday, July 10th. They set an "outperform" rating and a $19.00 price target on the stock. Evercore increased their target price on shares of Bausch + Lomb from $15.50 to $17.00 and gave the stock an "in-line" rating in a report on Thursday, August 1st. Needham & Company LLC restated a "hold" rating on shares of Bausch + Lomb in a report on Thursday. Finally, Stifel Nicolaus increased their price objective on shares of Bausch + Lomb from $16.00 to $19.00 and gave the company a "hold" rating in a research note on Monday, September 23rd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Bausch + Lomb has an average rating of "Moderate Buy" and an average target price of $20.36.

Insider Transactions at Bausch + Lomb

In other Bausch + Lomb news, CEO Brent L. Saunders bought 32,250 shares of the firm's stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $15.66 per share, for a total transaction of $505,035.00. Following the completion of the transaction, 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 at the SEC website. Company insiders own 0.15% of the company's stock.

Hedge Funds Weigh In On Bausch + Lomb

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. lifted its position in 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 acquiring an additional 3,232 shares during the period. Renaissance Capital LLC lifted its holdings in shares of Bausch + Lomb by 20.0% during the third quarter. Renaissance Capital LLC now owns 43,560 shares of the company's stock worth $840,000 after purchasing an additional 7,274 shares during the period. Gabelli Funds LLC boosted its position in Bausch + Lomb by 3.3% in the first quarter. Gabelli Funds LLC now owns 312,000 shares of the company's stock valued at $5,398,000 after buying an additional 10,000 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Bausch + Lomb in the 2nd quarter worth approximately $173,000. Finally, Fore Capital LLC raised its position in Bausch + Lomb by 90.2% during the 2nd quarter. Fore Capital LLC now owns 42,180 shares of the company's stock worth $612,000 after buying an additional 20,000 shares during the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

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.