Bausch + Lomb Corporation (NYSE:BLCO) Sees Large Decline in Short Interest

Bausch + Lomb Corporation (NYSE:BLCO) was the target of a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 2,659,462 shares, a drop of 15.9% from the February 12th total of 3,163,577 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average daily trading volume, of 592,081 shares, the days-to-cover ratio is currently 4.5 days. Based on an average daily trading volume, of 592,081 shares, the days-to-cover ratio is currently 4.5 days. Currently, 0.8% of the company’s stock are sold short.

Insider Buying and Selling at Bausch + Lomb

In other Bausch + Lomb news, CFO Sam Eldessouky purchased 4,000 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average cost of $17.13 per share, with a total value of $68,520.00. Following the transaction, the chief financial officer directly owned 403,130 shares in the company, valued at approximately $6,905,616.90. The trade was a 1.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP A Robert D. Bailey acquired 14,600 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were acquired at an average cost of $17.15 per share, for a total transaction of $250,390.00. Following the purchase, the executive vice president directly owned 231,890 shares of the company’s stock, valued at $3,976,913.50. This represents a 6.72% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 33,300 shares of company stock valued at $570,868. 0.15% of the stock is currently owned by company insiders.

Institutional Trading of Bausch + Lomb

Institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its holdings 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 valued at $30,000 after purchasing an additional 2,042 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in Bausch + Lomb by 104.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,227 shares of the company’s stock worth $38,000 after purchasing an additional 1,136 shares during the period. Wells Fargo & Company MN raised its stake in Bausch + Lomb by 31.2% during the 4th 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 last quarter. Jones Financial Companies Lllp raised its stake in Bausch + Lomb by 55.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 9,112 shares of the company’s stock valued at $132,000 after buying an additional 3,246 shares during the last quarter. Finally, Focus Partners Wealth bought a new position in shares of Bausch + Lomb during the 3rd quarter valued at $170,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BLCO shares. Royal Bank Of Canada lifted their target price on shares of Bausch + Lomb from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Tuesday, January 27th. Wells Fargo & Company raised their price objective on Bausch + Lomb from $17.00 to $18.00 and gave the company an “equal weight” rating in a research report on Thursday, February 19th. Evercore set a $18.00 price objective on Bausch + Lomb and gave the company an “in-line” rating in a research note on Monday, January 5th. Stifel Nicolaus set a $16.00 target price on Bausch + Lomb in a report on Thursday, February 19th. Finally, Barclays increased their target price on Bausch + Lomb from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 19th. Four investment 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.25.

Bausch + Lomb Stock Up 2.3%

BLCO traded up $0.37 during trading on Monday, hitting $16.57. 180,229 shares of the company’s stock traded hands, compared to its average volume of 399,874. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of -16.22, a PEG ratio of 0.68 and a beta of 0.58. The company’s 50 day simple moving average is $17.27 and its two-hundred day simple moving average is $16.23. Bausch + Lomb has a 12-month low of $10.45 and a 12-month high of $18.92. The company has a current ratio of 1.55, a quick ratio of 1.04 and a debt-to-equity ratio of 0.77.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Bausch + Lomb had a negative net margin of 7.06% and a positive return on equity of 2.77%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the company earned $0.25 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. Analysts predict that Bausch + Lomb will post 0.74 earnings per share for the current fiscal year.

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.