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

Bausch + Lomb Co. (NYSE:BLCO) was the target of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 1,080,000 shares, a growth of 11.7% from the November 15th total of 967,300 shares. Approximately 3.1% of the company’s stock are sold short. Based on an average daily trading volume, of 648,800 shares, the days-to-cover ratio is presently 1.7 days.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BLCO shares. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a report on Thursday, October 31st. Bank of America reissued an “underperform” rating and issued a $18.00 price objective on shares of Bausch + Lomb in a report on Thursday, December 12th. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 target price on shares of Bausch + Lomb in a report on Thursday, December 12th. Royal Bank of Canada increased their price target on shares of Bausch + Lomb from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Evercore ISI upgraded shares of Bausch + Lomb from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $19.00 to $25.00 in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.58.

Bausch + Lomb Stock Performance

Shares of BLCO stock opened at $18.55 on Tuesday. The stock has a fifty day moving average price of $19.87 and a 200 day moving average price of $17.55. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.95 and a current ratio of 1.57. The stock has a market cap of $6.53 billion, a PE ratio of -17.67, a P/E/G ratio of 1.74 and a beta of 0.43. Bausch + Lomb has a 1 year low of $13.16 and a 1 year high of $21.69.

Bausch + Lomb (NYSE:BLCO) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.17%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the firm earned $0.22 EPS. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. Sell-side analysts forecast that Bausch + Lomb will post 0.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. River Road Asset Management LLC boosted its stake in shares of Bausch + Lomb by 4.4% during the 3rd quarter. River Road Asset Management LLC now owns 2,020,414 shares of the company’s stock worth $38,974,000 after purchasing an additional 85,987 shares during the last quarter. Whitebox Advisors LLC boosted its position in Bausch + Lomb by 28.2% during the second quarter. Whitebox Advisors LLC now owns 1,545,946 shares of the company’s stock worth $22,447,000 after acquiring an additional 339,643 shares during the last quarter. King Street Capital Management L.P. purchased a new stake in Bausch + Lomb in the 3rd quarter worth approximately $14,122,000. Clearline Capital LP raised its holdings in Bausch + Lomb by 136.8% in the 2nd quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock valued at $10,339,000 after acquiring an additional 411,404 shares during the last quarter. Finally, Point72 Europe London LLP lifted its stake in shares of Bausch + Lomb by 28.9% during the 2nd quarter. Point72 Europe London LLP now owns 653,492 shares of the company’s stock worth $9,489,000 after purchasing an additional 146,583 shares during the period. 11.07% of the stock is owned by hedge funds and other 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.