BLCO Stock Still 16% Below IPO — Is Silver Point’s $38.7 Million Bet a Turning Point?

2 weeks ago 11

Jonathan Ponciano, The Motley Fool

Wed, December 3, 2025 astatine 10:10 AM CST 5 min read

Connecticut-based Silver Point Capital added astir 2.6 cardinal BLCO shares successful the 3rd quarter, expanding its 13F portfolio by astir $38.7 million.
The transaction represents 2.8% of reportable U.S. equity assets nether management.
BLCO remains extracurricular the fund’s apical 5 holdings.
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Connecticut-based Silver Point Capital initiated a caller presumption successful Bausch + Lomb Corporation (NYSE:BLCO), adding astir 2.6 millino shares for an estimated $38.7 million, per its November 14 SEC filing.

According to a filing with the Securities and Exchange Commission dated November 14, Silver Point Capital disclosed a caller involvement successful Bausch + Lomb Corporation (NYSE:BLCO). The money reported ownership of 2.6 cardinal shares, representing a presumption valued astatine astir $38.7 cardinal astatine the quarter’s end. This caller holding brings Silver Point’s reportable U.S. equity portfolio to 19 positions.

The BLCO involvement accounts for 2.8% of Silver Point’s reported AUM arsenic of September 30.

Top 5 holdings aft the filing:

NYSE:GPOR: $677 cardinal (49.1% of AUM)
NYSE:MSC: $111.7 cardinal (8.1% of AUM)
NYSEMKT:IAU: $97.1 cardinal (7% of AUM)
NASDAQ:SATS: $82.1 cardinal (6% of AUM)
NYSEMKT:IWM: $71.6 cardinal (5.2% of AUM)

As of Wednesday, BLCO shares were priced astatine $16.95, down 13% implicit the past twelvemonth and good underperforming the S&P 500, which is up 13% successful the aforesaid period.

Metric

Value

Price (as of Wednesday)	$16.95
Market Capitalization	$6 billion
Revenue (TTM)	$5 billion
Net Income (TTM)	($305 million)

Bausch + Lomb Corporation operates successful oculus wellness globally, with a portfolio spanning imaginativeness care, pharmaceuticals, and surgical solutions. It offers interaction lenses, lens attraction products, ophthalmic pharmaceuticals, and surgical devices for oculus wellness crossed 3 segments: Vision Care/Consumer Health Care, Ophthalmic Pharmaceuticals, and Surgical. The institution generates gross chiefly done the merchantability of branded and generic oculus wellness products, surgical tools, and user wellness items distributed globally to healthcare professionals and retail channels. It serves ophthalmologists, optometrists, healthcare institutions, and consumers seeking imaginativeness correction and oculus attraction solutions worldwide.

Even with shares inactive trading beneath their post-IPO highs, Bausch + Lomb’s dependable operating advancement has started to substance again—especially for semipermanent investors watching whether the turnaround is gathering existent momentum. A caller presumption from Silver Point Capital suggests organization wealth is noticing the shift. The steadfast added astir 2.6 cardinal shares successful the 3rd quarter, giving it meaningful vulnerability to a concern that’s softly putting up accordant maturation portion moving done a multiyear reset.

The fund’s $38.7 cardinal BLCO involvement present represents 2.8% of its reported U.S. equity assets, placing it conscionable extracurricular its apical 5 holdings—far smaller than its ascendant Gulfport Energy presumption but inactive a noteworthy stake successful a concentrated portfolio. Bausch + Lomb reported 7% gross maturation to $1.3 cardinal successful the 3rd quarter, with spot crossed its imaginativeness Care, surgical, and pharmaceutical segments. Adjusted EBITDA roseate to $243 million, and absorption reaffirmed full-year gross guidance alongside somewhat higher EBITDA expectations. On the different hand, the nett nonaccomplishment totaled $28 million, compared to income of $4 cardinal 1 twelvemonth earlier.

The cardinal question is whether this operational stableness tin construe into sustained net growth—and whether the stock, inactive down ~16% from its 2022 post-IPO levels, tin regain capitalist assurance arsenic caller products determination done the pipeline.