Short Interest in Bausch + Lomb Corporation (NYSE:BLCO) Increases By 50.7%

Bausch + Lomb Corporation (NYSE:BLCO) was the recipient of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 4,006,617 shares, an increase 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 currently 9.5 days. Currently, 1.1% of the shares of the stock are short sold.

Bausch + Lomb Trading Down 3.2%

Shares of NYSE BLCO traded down $0.51 during trading on Friday, reaching $15.38. The company had a trading volume of 316,503 shares, compared to its average volume of 426,070. The stock has a market cap of $5.46 billion, a P/E ratio of -15.08, a PEG ratio of 0.66 and a beta of 0.58. The company’s fifty day moving average price is $17.02 and its 200-day moving average price is $16.29. The company has a quick ratio of 1.04, a current ratio of 1.55 and a debt-to-equity ratio of 0.77. Bausch + Lomb has a 12 month low of $10.45 and a 12 month high of $18.92.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the firm earned $0.25 earnings per share. Bausch + Lomb’s revenue was up 9.8% compared to the same quarter last year. As a group, research analysts expect that Bausch + Lomb will post 0.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BLCO shares. Stifel Nicolaus set a $16.00 target price on shares of Bausch + Lomb in a research report on Thursday, February 19th. Barclays upped their price target on shares of Bausch + Lomb from $17.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, February 19th. Citigroup raised their price objective on Bausch + Lomb from $20.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Royal Bank Of Canada boosted their price objective on Bausch + Lomb from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $19.00 target price on shares of Bausch + Lomb in a report on Friday, January 9th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Bausch + Lomb has an average rating of “Hold” and an average price target of $18.25.

Insider Buying and Selling at Bausch + Lomb

In other Bausch + Lomb news, CEO Brent L. Saunders bought 14,700 shares of the stock in a transaction on Friday, March 6th. The stock was purchased at an average price of $17.14 per share, with a total value of $251,958.00. Following the completion of the purchase, the chief executive officer owned 966,575 shares in the company, valued at $16,567,095.50. The trade was a 1.54% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP A Robert D. Bailey purchased 14,600 shares of Bausch + Lomb stock in a transaction dated Friday, March 6th. The stock was bought at an average price of $17.15 per share, for a total transaction of $250,390.00. Following the completion of the purchase, the executive vice president owned 231,890 shares in the company, valued at $3,976,913.50. This represents a 6.72% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 33,300 shares of company stock worth $570,868 over the last 90 days. Insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Bausch + Lomb

Institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its position in shares of 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 buying an additional 2,042 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings 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 buying an additional 1,136 shares during the period. Wells Fargo & Company MN lifted its holdings in Bausch + Lomb by 31.2% in the fourth quarter. Wells Fargo & Company MN now owns 5,903 shares of the company’s stock valued at $101,000 after buying an additional 1,403 shares during the period. Jones Financial Companies Lllp boosted its position 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 acquiring an additional 3,246 shares during the last quarter. Finally, Focus Partners Wealth bought a new stake in Bausch + Lomb during the third quarter valued at $170,000. 11.07% of the stock is owned by 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.