Bausch + Lomb Co. (NYSE:BLCO) Sees Significant Growth in Short Interest

Bausch + Lomb Co. (NYSE:BLCO) was the target of a large increase in short interest in 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. Approximately 5.0% of the shares of the company are sold short. Based on an average daily trading volume, of 533,900 shares, the short-interest ratio is currently 3.2 days.

Institutional Trading of Bausch + Lomb

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Alberta Investment Management Corp increased its position in shares of Bausch + Lomb by 36.0% during the fourth quarter. Alberta Investment Management Corp now owns 3,008,193 shares of the company’s stock worth $54,328,000 after acquiring an additional 796,400 shares during the last quarter. River Road Asset Management LLC grew its stake in Bausch + Lomb by 4.4% in the third 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 grew its stake in Bausch + Lomb by 16.1% in the fourth quarter. Whitebox Advisors LLC now owns 1,443,101 shares of the company’s stock worth $26,062,000 after purchasing an additional 199,856 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Bausch + Lomb by 51.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,218,431 shares of the company’s stock worth $21,996,000 after purchasing 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 fourth quarter worth about $14,122,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BLCO shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, October 31st. Royal Bank of Canada dropped their price objective on Bausch + Lomb from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Stifel Nicolaus dropped their price objective on Bausch + Lomb from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Wednesday, January 29th. Morgan Stanley downgraded Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price objective for the company. in a research note on Monday, December 2nd. Finally, Wells Fargo & Company lowered their target price on Bausch + Lomb from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.25.

Bausch + Lomb Trading Down 1.2 %

Shares of NYSE BLCO traded down $0.20 during midday trading on Friday, reaching $16.44. 341,072 shares of the company’s stock were exchanged, 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 company has a quick ratio of 0.95, a current ratio of 1.57 and a debt-to-equity ratio of 0.69. The business’s fifty day moving average price is $17.67 and its two-hundred day moving average price is $18.16.

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.