Bausch + Lomb Co. (NYSE:BLCO) Short Interest Up 15.9% in February

Bausch + Lomb Co. (NYSE:BLCO – Get Rating) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 7,430,000 shares, an increase of 15.9% from the February 13th total of 6,410,000 shares. Based on an average trading volume of 429,000 shares, the days-to-cover ratio is presently 17.3 days. Currently, 19.3% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BLCO. Quinn Opportunity Partners LLC acquired a new stake in Bausch + Lomb during the 3rd quarter valued at $407,000. Mangrove Partners acquired a new stake in shares of Bausch + Lomb in the 3rd quarter valued at about $12,008,000. Penn Capital Management Company LLC acquired a new stake in shares of Bausch + Lomb in the second quarter valued at about $1,846,000. AlphaCentric Advisors LLC acquired a new stake in shares of Bausch + Lomb in the third quarter valued at about $192,000. Finally, Gabelli Funds LLC increased its position in shares of Bausch + Lomb by 86.3% in the third quarter. Gabelli Funds LLC now owns 150,000 shares of the company’s stock valued at $3,191,000 after acquiring an additional 69,500 shares during the last quarter. 12.44% of the stock is owned by institutional investors and hedge funds.

Bausch + Lomb Price Performance

Shares of NYSE BLCO opened at $15.67 on Tuesday. The company has a market capitalization of $5.48 billion and a price-to-earnings ratio of 783.89. The business has a 50 day simple moving average of $17.14 and a 200-day simple moving average of $15.96. The company has a current ratio of 1.65, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. Bausch + Lomb has a twelve month low of $12.20 and a twelve month high of $20.20.

Analysts Set New Price Targets

BLCO has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Bausch + Lomb from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, February 23rd. Barclays began coverage on shares of Bausch + Lomb in a research report on Wednesday, December 21st. They set an “equal weight” rating and a $17.00 price target on the stock. Morgan Stanley boosted their price objective on shares of Bausch + Lomb from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 23rd. The Goldman Sachs Group dropped their target price on shares of Bausch + Lomb from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $20.00 price objective on shares of Bausch + Lomb in a report on Thursday, February 23rd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $22.50.

Bausch + Lomb Company Profile

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Bausch + Lomb Corporation operates as an eye health company worldwide. It operates through three segments: Vision Care/Consumer Health Care, Ophthalmic Pharmaceuticals, and Surgical. The Vision Care/Consumer Health 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, over-the-counter eye drops, eye vitamins, and mineral supplements that address various conditions comprising eye allergies, conjunctivitis, and dry eye.