Bausch + Lomb Co. (NYSE:BLCO) Short Interest Update

Bausch + Lomb Co. (NYSE:BLCO - Get Free Report) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 1,860,000 shares, an increase of 52.5% from the February 13th total of 1,220,000 shares. Based on an average daily volume of 631,100 shares, the days-to-cover ratio is currently 2.9 days. Approximately 5.2% of the company's stock are sold short.

Bausch + Lomb Stock Performance

Shares of NYSE:BLCO traded up $0.02 on Wednesday, hitting $15.50. The company had a trading volume of 216,008 shares, compared to its average volume of 577,298. Bausch + Lomb has a 1-year low of $13.16 and a 1-year high of $21.69. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of -17.03, a P/E/G ratio of 0.85 and a beta of 0.49. The stock has a 50 day moving average price of $16.57 and a 200 day moving average price of $18.14. The company has a current ratio of 1.60, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72.

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

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Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Morgan Stanley lowered shares of Bausch + Lomb from an "overweight" rating to an "equal weight" rating and set a $19.00 price objective on the stock. in a research report on Monday, December 2nd. Citigroup lowered shares of Bausch + Lomb from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $24.00 to $22.00 in a research report on Wednesday, December 11th. Wells Fargo & Company cut their price objective on shares of Bausch + Lomb from $26.00 to $24.00 and set an "overweight" rating on the stock in a research report on Thursday, January 16th. HC Wainwright reissued a "buy" rating and issued a $23.00 price objective on shares of Bausch + Lomb in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada dropped their price target on shares of Bausch + Lomb from $22.00 to $18.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $20.00.

Hedge Funds Weigh In On Bausch + Lomb

Several institutional investors and hedge funds have recently modified their holdings of BLCO. Alberta Investment Management Corp grew its stake in shares of Bausch + Lomb by 36.0% in the fourth quarter. Alberta Investment Management Corp now owns 3,008,193 shares of the company's stock valued at $54,328,000 after acquiring an additional 796,400 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of Bausch + Lomb in the fourth quarter valued at about $14,122,000. King Street Capital Management L.P. acquired a new position in shares of Bausch + Lomb in the third quarter valued at about $14,122,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Bausch + Lomb by 51.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,218,431 shares of the company's stock valued at $21,996,000 after acquiring an additional 414,138 shares in the last quarter. Finally, Barclays PLC acquired a new position in shares of Bausch + Lomb in the third quarter valued at about $5,797,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.