Bausch + Lomb Co. (NYSE:BLCO) Short Interest Update

Bausch + Lomb Co. (NYSE:BLCO - Get Free Report) was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 2,580,000 shares, an increase of 38.0% from the April 30th total of 1,870,000 shares. Based on an average daily volume of 840,800 shares, the days-to-cover ratio is currently 3.1 days. Approximately 7.0% of the company's shares are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BLCO shares. Morgan Stanley decreased their target price on Bausch + Lomb from $18.00 to $12.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. HC Wainwright decreased their price objective on Bausch + Lomb from $20.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Bank of America decreased their price objective on Bausch + Lomb from $18.00 to $17.00 and set an "underperform" rating for the company in a research report on Thursday, February 20th. Royal Bank of Canada decreased their price objective on Bausch + Lomb from $18.00 to $17.00 and set an "outperform" rating for the company in a research report on Friday, April 4th. Finally, Evercore ISI cut their target price on Bausch + Lomb from $19.00 to $15.50 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $15.50.

Bausch + Lomb Stock Up 0.3%

Shares of Bausch + Lomb stock traded up $0.04 on Thursday, reaching $11.55. 525,933 shares of the company were exchanged, compared to its average volume of 675,728. Bausch + Lomb has a one year low of $10.45 and a one year high of $21.69. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of -12.69, a PEG ratio of 0.85 and a beta of 0.56. The company has a current ratio of 1.60, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average of $11.96 and a 200 day moving average of $15.47.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.10). Bausch + Lomb had a positive return on equity of 3.35% and a negative net margin of 6.62%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the company earned $0.07 EPS. The company's revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities research analysts forecast that Bausch + Lomb will post 0.74 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Brent L. Saunders acquired 22,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average cost of $11.28 per share, for a total transaction of $248,160.00. Following the completion of the transaction, the chief executive officer now directly owns 719,156 shares in the company, valued at $8,112,079.68. This trade represents a 3.16% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.76% of the company's stock.

Institutional Investors Weigh In On Bausch + Lomb

A number of institutional investors and hedge funds have recently made changes to their positions in BLCO. Blue Trust Inc. raised its stake in Bausch + Lomb by 68.3% in the 4th quarter. Blue Trust Inc. now owns 2,474 shares of the company's stock valued at $48,000 after acquiring an additional 1,004 shares during the period. National Bank of Canada FI raised its stake in Bausch + Lomb by 101.7% in the 1st quarter. National Bank of Canada FI now owns 6,719 shares of the company's stock valued at $97,000 after acquiring an additional 3,387 shares during the period. Commonwealth Equity Services LLC bought a new stake in Bausch + Lomb in the 4th quarter valued at $181,000. Alpine Global Management LLC bought a new stake in Bausch + Lomb in the 4th quarter valued at $181,000. Finally, Covestor Ltd bought a new stake in Bausch + Lomb in the 4th quarter valued at $188,000. Institutional investors own 11.07% of the company's stock.

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.