Short Interest in Bausch + Lomb Co. (NYSE:BLCO) Decreases By 29.5%

Bausch + Lomb Co. (NYSE:BLCO) was the recipient of a significant decline in short interest in February. As of February 15th, there was short interest totalling 1,220,000 shares, a decline of 29.5% from the January 31st total of 1,730,000 shares. Currently, 3.4% of the company’s shares are short sold. Based on an average trading volume of 580,500 shares, the short-interest ratio is currently 2.1 days.

Bausch + Lomb Stock Performance

NYSE:BLCO traded down $0.15 during mid-day trading on Wednesday, hitting $15.69. The stock had a trading volume of 168,405 shares, compared to its average volume of 653,811. Bausch + Lomb has a twelve month low of $13.16 and a twelve month high of $21.69. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of -17.25, a PEG ratio of 0.85 and a beta of 0.46. The company’s 50 day simple moving average is $17.04 and its 200 day simple moving average is $18.18. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.60.

Bausch + Lomb (NYSE:BLCO) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Bausch + Lomb had a negative net margin of 6.62% and a positive return on equity of 3.35%. The business’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. On average, equities research analysts forecast that Bausch + Lomb will post 0.74 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BLCO. River Road Asset Management LLC increased its holdings in shares of Bausch + Lomb by 4.4% during 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 during the period. Charles Schwab Investment Management Inc. grew its stake in Bausch + Lomb by 80.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 29,755 shares of the company’s stock worth $576,000 after buying an additional 13,302 shares in the last quarter. Verition Fund Management LLC bought a new position in Bausch + Lomb in the 3rd quarter valued at about $302,000. Cinctive Capital Management LP acquired a new position in shares of Bausch + Lomb in the 3rd quarter valued at approximately $870,000. Finally, HighTower Advisors LLC lifted its holdings in shares of Bausch + Lomb by 14.7% during the 3rd quarter. HighTower Advisors LLC now owns 24,661 shares of the company’s stock worth $476,000 after acquiring an additional 3,164 shares during the period. 11.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on BLCO shares. Stifel Nicolaus dropped their price target on Bausch + Lomb from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. Bank of America dropped their price target on Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating on the stock in a research note on Thursday, February 20th. Citigroup downgraded Bausch + Lomb from a “buy” rating to a “neutral” rating and dropped their price target for the company from $24.00 to $22.00 in a research note on Wednesday, December 11th. Royal Bank of Canada dropped their price target on Bausch + Lomb from $22.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Finally, Wells Fargo & Company dropped their price target on Bausch + Lomb from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Bausch + Lomb currently has a consensus rating of “Hold” and an average price target of $20.00.

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.