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 currently 3.2 days. Approximately 5.0% of the company’s shares are short sold.

Bausch + Lomb Trading Down 1.2 %

Shares of BLCO stock traded down $0.20 during mid-day trading on Friday, hitting $16.44. The company had a trading volume of 341,072 shares, compared to its average volume of 721,173. Bausch + Lomb has a 52-week low of $13.16 and a 52-week high of $21.69. The stock’s 50 day moving average price is $17.67 and its 200-day moving average price is $18.16. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.57 and a quick ratio of 0.95.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BLCO. Citigroup lowered shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and dropped their target price for the company from $24.00 to $22.00 in a report on Wednesday, December 11th. Bank of America reiterated an “underperform” rating and set a $18.00 price objective on shares of Bausch + Lomb in a report on Thursday, December 12th. Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a report on Thursday, October 31st. Royal Bank of Canada dropped their price objective on shares of Bausch + Lomb from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Finally, Stifel Nicolaus dropped their price objective on shares of Bausch + Lomb from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $20.25.

Hedge Funds Weigh In On Bausch + Lomb

Hedge funds have recently modified their holdings of the stock. Whitebox Advisors LLC increased its stake in Bausch + Lomb by 16.1% during the fourth quarter. Whitebox Advisors LLC now owns 1,443,101 shares of the company’s stock worth $26,062,000 after acquiring an additional 199,856 shares during the last quarter. Nexpoint Asset Management L.P. bought a new stake in Bausch + Lomb during the fourth quarter worth approximately $366,000. One68 Global Capital LLC bought a new stake in Bausch + Lomb during the fourth quarter worth approximately $735,000. Tudor Investment Corp ET AL increased its stake in Bausch + Lomb by 133.6% during the fourth quarter. Tudor Investment Corp ET AL now owns 263,299 shares of the company’s stock worth $4,755,000 after acquiring an additional 150,597 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new stake in Bausch + Lomb during the fourth quarter worth approximately $14,122,000. 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.