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

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

Bausch + Lomb Trading Down 1.2 %

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

Institutional Trading of Bausch + Lomb

Hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. raised its stake in shares of Bausch + Lomb by 68.3% in the fourth quarter. Blue Trust Inc. now owns 2,474 shares of the company’s stock worth $48,000 after purchasing an additional 1,004 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in Bausch + Lomb in the fourth quarter valued at approximately $72,000. Commonwealth Equity Services LLC acquired a new stake in shares of Bausch + Lomb in the fourth quarter worth approximately $181,000. Alpine Global Management LLC acquired a new stake in shares of Bausch + Lomb in the fourth quarter worth approximately $181,000. Finally, Covestor Ltd acquired a new stake in shares of Bausch + Lomb in the fourth quarter worth approximately $188,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Analyst Upgrades and Downgrades

BLCO has been the topic of a number of recent research reports. Morgan Stanley lowered shares of Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price target on the stock. in a research report on Monday, December 2nd. Stifel Nicolaus lowered their price target on shares of Bausch + Lomb from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Citigroup lowered shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $24.00 to $22.00 in a research report on Wednesday, December 11th. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a report on Thursday, October 31st. Finally, Royal Bank of Canada decreased their target price 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Bausch + Lomb has a consensus rating of “Hold” and a consensus price target of $20.25.

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.