Bausch + Lomb Co. (NYSE:BLCO) Short Interest Up 8.7% in April

Bausch + Lomb Co. (NYSE:BLCO) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,630,000 shares, an increase of 8.7% from the March 31st total of 1,500,000 shares. Based on an average daily volume of 464,700 shares, the short-interest ratio is presently 3.5 days. Currently, 4.3% of the shares of the company are sold short.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a report on Wednesday. Wells Fargo & Company increased their price objective on Bausch + Lomb from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Royal Bank of Canada reduced their price objective on Bausch + Lomb from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. Barclays increased their price objective on Bausch + Lomb from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Finally, Evercore ISI raised their price target on Bausch + Lomb from $16.50 to $17.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.50.

Bausch + Lomb Trading Down 5.5 %

Shares of BLCO stock opened at $13.74 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 1.74. Bausch + Lomb has a 52-week low of $13.62 and a 52-week high of $21.95. The company has a market capitalization of $4.83 billion, a PE ratio of -18.57, a price-to-earnings-growth ratio of 1.46 and a beta of 0.36. The business’s fifty day moving average is $15.97 and its 200 day moving average is $15.65.

Bausch + Lomb (NYSE:BLCO) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.07. Bausch + Lomb had a positive return on equity of 3.70% and a negative net margin of 6.27%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the business posted $0.23 earnings per share. The firm’s revenue was up 17.8% compared to the same quarter last year. On average, equities research analysts anticipate that Bausch + Lomb will post 0.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Bausch + Lomb

A number of institutional investors and hedge funds have recently made changes to their positions in BLCO. Black Swift Group LLC purchased a new stake in shares of Bausch + Lomb in the third quarter worth $170,000. Jump Financial LLC purchased a new stake in Bausch + Lomb during the third quarter valued at about $255,000. Renaissance Capital LLC raised its position in Bausch + Lomb by 27.3% during the fourth quarter. Renaissance Capital LLC now owns 22,407 shares of the company’s stock valued at $382,000 after purchasing an additional 4,801 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Bausch + Lomb during the third quarter valued at about $466,000. Finally, Tectonic Advisors LLC raised its position in Bausch + Lomb by 4.7% during the third quarter. Tectonic Advisors LLC now owns 42,323 shares of the company’s stock valued at $717,000 after purchasing an additional 1,907 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

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.