Eye Care Giant Posts $5.1 Billion in Revenue as One Investor Builds Major Position
Key Points
Caspian Capital increased its Bausch + Lomb Corporation stake by 1,349,043 shares in the fourth quarter; the estimated trade value was $21.39 million based on quarterly average prices.
Meanwhile, the quarter-end position value rose by $21.61 million, reflecting both trading and price changes.
The post-trade holding stands at 1,999,043 shares worth $34.14 million.
On February 17, 2026, Caspian Capital disclosed a purchase of 1,349,043 shares of Bausch + Lomb Corporation (NYSE:BLCO), an estimated $21.39 million trade based on quarterly average pricing.
What happened
According to its SEC filing dated February 17, 2026, Caspian Capital increased its position in Bausch + Lomb Corporation by 1,349,043 shares. The estimated transaction value was $21.39 million, calculated using the average closing price for the quarter. The quarter-end value of the position increased by $21.61 million, which includes the effects of both the share purchase and stock price movement.
What else to know
- CASPIAN CAPITAL LP increased its Bausch + Lomb Corporation stake, which now represents 22.58% of 13F reportable AUM
- Top holdings after the filing:
- NYSE: BLCO: $34.14 million (22.6% of AUM)
- NASDAQ: FIP: $24.02 million (15.9% of AUM)
- NASDAQ: FTAI: $21.94 million (14.5% of AUM)
- NYSE: CCO: $20.50 million (13.6% of AUM)
- NYSE: PACS: $14.63 million (9.7% of AUM)
- As of Thursday, BLCO shares were priced at $16.87, up 11% over the past year but underperforming the S&P 500’s roughly 20% gain in the same period.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $5.1 billion |
| Net income (TTM) | ($360 million) |
| Market capitalization | $6 billion |
| Price (as of Thursday) | $16.87 |
Company snapshot
- Bausch + Lomb offers a broad portfolio of eye health products, including contact lenses, lens care solutions, ophthalmic pharmaceuticals, and surgical devices for cataract and retinal procedures.
- The firm generates revenue through the sale of branded and generic eye care products, medical devices, and surgical equipment to healthcare providers, retailers, and direct consumers globally.
- It serves ophthalmologists, optometrists, eye care professionals, and end consumers seeking vision correction and eye health solutions worldwide.
Bausch + Lomb Corporation is a global leader in eye health, operating across vision care, pharmaceuticals, and surgical segments. The company leverages a diversified product suite and established distribution channels to address a wide range of ocular conditions and vision needs.
With a history dating back to 1853, Bausch + Lomb combines innovation in medical devices and pharmaceuticals to maintain a competitive position in the healthcare sector, targeting both healthcare professionals and consumers.
What this transaction means for investors
Building up Bausch + Lomb to be a top holding certainly seems like a sign of conviction, and the firm’s latest results show why some investors may see that opportunity. The global eye care company generated $5.1 billion in revenue in 2025, up about 6% from the prior year, while fourth-quarter sales climbed 10% to $1.405 billion. Adjusted EBITDA was $858 million for the year, down a bit from one year prior, but higher when excluding in-process research and development.
Growth was driven largely by contact lenses, consumer eye health products, and new pharmaceutical launches, including the dry eye therapy MIEBO. These products are helping the company capture rising global demand for vision care as aging populations and screen usage increase the prevalence of eye conditions. Of course, shares have underperformed over the past year, but they’re roughly in line with the broader market since last quarter, and if the company continues to execute, this could end up being a smart investment.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Pacs Group. The Motley Fool has a disclosure policy.