Alcon (ALC)

• Market cap: $42.4B
• 1 day: -0.52%
• 5 days: 1.10%
• 1 month: -1.85%
• 3 months: -13.57%
• 6 months: -4.52%
• Year to date: 11.15%
• 1 year: 10.50%
• 5 years: 50.23%
• 10 years: 47.54%

About: Alcon is one of the leading visioncare companies in the world. Following nine years as a Novartis subsidiary, it was spun off as a public company in April 2019. Alcon operates in two segments: visioncare and surgical. Visioncare comprises contact lenses, lenscare solutions, and a suite of ocular health products. With brands like Dailies, Total1, and Air Optix, Alcon controls one fourth of the U.S. contact lens market. Surgical comprises intraocular lenses, ophthalmic surgical equipment, and consumables used during surgeries. Its main products include Centurion, a phacoemulsification device used during cataract surgeries, and a portfolio of IOLs including PanOptix and Vivity. Alcon has one of the largest installed bases of eye surgical equipment in the world.

Employees: 25,315

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

43% more call options, than puts

Call options by funds: $236M | Put options by funds: $165M

34% more first-time investments, than exits

New positions opened: 87 | Existing positions closed: 65

14% more funds holding in top 10

Funds holding in top 10: 14 [Q2] → 16 (+2) [Q3]

7% more capital invested

Capital invested by funds: $22.7B [Q2] → $24.2B (+$1.51B) [Q3]

4% more funds holding

Funds holding: 621 [Q2] → 643 (+22) [Q3]

2.48% less ownership

Funds ownership: 51.59% [Q2] → 49.11% (-2.48%) [Q3]

19% less repeat investments, than reductions

Existing positions increased: 186 | Existing positions reduced: 230

Research analyst outlook

3 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $106 24% upside
• Avg. target: $107 25% upside
• High target: $108 26% upside

3 analyst ratings

• positive: 3 100%
• neutral: 0 0%
• negative: 0 0%

Needham David Saxon 20% 1-year accuracy 12 / 61 met price target	26% upside $108	Buy Maintained	17 Dec 2024
Keybanc Brett Fishbin 60% 1-year accuracy 12 / 20 met price target	25% upside $107	Overweight Maintained	15 Oct 2024
BTIG Ryan Zimmerman 63% 1-year accuracy 30 / 48 met price target	24% upside $106	Buy Maintained	14 Oct 2024