Bausch + Lomb Co. (NYSE:BLCO) Sees Large Increase in Short Interest

Bausch + Lomb Co. (NYSE:BLCO) saw a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 1,730,000 shares, an increase of 37.3% from the January 15th total of 1,260,000 shares. Based on an average daily volume of 533,900 shares, the days-to-cover ratio is presently 3.2 days. Currently, 5.0% of the shares of the company are sold short.

Analyst Ratings Changes

A number of brokerages have commented on BLCO. Royal Bank of Canada cut their price target on shares of Bausch + Lomb from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Bank of America reiterated an “underperform” rating and issued a $18.00 target price on shares of Bausch + Lomb in a research note on Thursday, December 12th. Morgan Stanley lowered shares of Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 target price for the company. in a report on Monday, December 2nd. Citigroup cut shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $24.00 to $22.00 in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company cut their price objective on shares of Bausch + Lomb from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Bausch + Lomb currently has a consensus rating of “Hold” and a consensus target price of $20.25.

Bausch + Lomb Stock Down 1.2 %

Bausch + Lomb stock traded down $0.20 during midday trading on Friday, hitting $16.44. The stock had a trading volume of 341,072 shares, compared to its average volume of 721,173. The firm’s fifty day moving average is $17.67 and its two-hundred day moving average is $18.16. Bausch + Lomb has a 52-week low of $13.16 and a 52-week high of $21.69. The company has a current ratio of 1.57, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69.

Institutional Investors Weigh In On Bausch + Lomb

Several large investors have recently bought and sold shares of the business. Alberta Investment Management Corp raised its holdings in Bausch + Lomb by 36.0% in the fourth quarter. Alberta Investment Management Corp now owns 3,008,193 shares of the company’s stock worth $54,328,000 after purchasing an additional 796,400 shares in the last quarter. River Road Asset Management LLC boosted its position in Bausch + Lomb by 4.4% in the 3rd quarter. River Road Asset Management LLC now owns 2,020,414 shares of the company’s stock worth $38,974,000 after purchasing an additional 85,987 shares in the last quarter. Whitebox Advisors LLC lifted its position in shares of Bausch + Lomb by 16.1% during the 4th quarter. Whitebox Advisors LLC now owns 1,443,101 shares of the company’s stock valued at $26,062,000 after buying an additional 199,856 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Bausch + Lomb by 51.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,218,431 shares of the company’s stock valued at $21,996,000 after buying an additional 414,138 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new position in Bausch + Lomb in the 4th quarter valued at $14,122,000. 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.