Bausch + Lomb Co. (NYSE:BLCO) Sees Significant Drop in Short Interest
Bausch + Lomb Co. (NYSE:BLCO – Get Free Report) saw a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 3,440,000 shares, a drop of 10.4% from the November 15th total of 3,840,000 shares. Based on an average daily volume of 429,000 shares, the days-to-cover ratio is currently 8.0 days. Approximately 8.9% of the shares of the company are sold short.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Bausch + Lomb from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Monday, December 4th. Citigroup dropped their price target on shares of Bausch + Lomb from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, December 12th. Stifel Nicolaus began coverage on Bausch + Lomb in a report on Tuesday, December 12th. They issued a “hold” rating and a $16.00 price objective on the stock. Barclays cut their target price on Bausch + Lomb from $19.00 to $17.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 28th. Finally, Evercore ISI initiated coverage on Bausch + Lomb in a research note on Tuesday, October 3rd. They issued an “outperform” rating and a $20.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.55.
Read Our Latest Analysis on Bausch + Lomb
Bausch + Lomb Price Performance
Bausch + Lomb stock traded down $0.11 during trading hours on Monday, hitting $15.06. The stock had a trading volume of 562,330 shares, compared to its average volume of 445,809. The company has a quick ratio of 1.23, a current ratio of 1.78 and a debt-to-equity ratio of 0.64. Bausch + Lomb has a 1-year low of $14.37 and a 1-year high of $21.95. The stock’s fifty day moving average is $16.03 and its two-hundred day moving average is $17.77.
Bausch + Lomb (NYSE:BLCO – Get Free Report) last posted its earnings results on Wednesday, November 1st. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.04. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $990.68 million. Bausch + Lomb had a negative net margin of 5.22% and a positive return on equity of 3.63%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $0.31 EPS. As a group, analysts anticipate that Bausch + Lomb will post 0.65 EPS for the current year.
Institutional Investors Weigh In On Bausch + Lomb
Institutional investors and hedge funds have recently bought and sold shares of the stock. Gamco Investors INC. ET AL boosted its stake in shares of Bausch + Lomb by 1.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 45,790 shares of the company’s stock worth $710,000 after purchasing an additional 600 shares during the last quarter. Tectonic Advisors LLC boosted 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 worth $717,000 after acquiring an additional 1,907 shares during the last quarter. Barclays PLC purchased a new stake in Bausch + Lomb in the 4th quarter worth approximately $30,000. State of Wyoming acquired a new position in Bausch + Lomb in the 4th quarter valued at $32,000. Finally, Renaissance Capital LLC lifted its stake in shares of Bausch + Lomb by 18.4% during the 2nd quarter. Renaissance Capital LLC now owns 13,644 shares of the company’s stock worth $274,000 after purchasing an additional 2,125 shares during the period. Hedge funds and other institutional investors own 12.45% of the company’s stock.
About Bausch + Lomb (Get Free Report)
Bausch + Lomb Corporation operates as an eye health company worldwide. It operates through three segments: Vision Care, Ophthalmic 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 for therapeutic use, over-the-counter eye drops, eye vitamins, and mineral supplements that address various conditions comprising eye allergies, conjunctivitis, dry eye, and redness relief.
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Original: MarketBeat News Feed: Bausch + Lomb Co. (NYSE:BLCO) Sees Significant Drop in Short Interest