Alcon (NYSE:ALC) Stock, Quote.Headers.trade-ideas

Alcon

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.

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Earnings

Alcon Analysts Increase Their Forecasts After Q2 Results

Earnings Beats

Large Cap

Mid Cap

VCYT

Alcon, Inc. (NYSE: ALC) delivered core earnings per share of 74 cents in the second quarter of 2024, up 7.2% from the year-ago quarter&#39;s figure (up 15% at the constant exchange rate or CER). The figure came in line with the Zacks Consensus Estimate.

Alcon Q2 Earnings Meet Estimates, Revenues Increase Y/Y

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Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page.</a>
<ul>
<li>Needham raised the price target for Docebo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCBO#NASDAQ">DCBO</a>) from $45 to $50. Needham analyst Ryan MacDonald maintained a Buy rating. Docebo shares fell 0.9% to close at $41.29 on Wednesday. <a href="https://www.benzinga.com/quote/DCBO/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Ascendiant Capital increased the price target for RenovoRx, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNXT#NASDAQ">RNXT</a>) from $8 to $8.25.. Ascendiant Capital analyst Edward Woo maintained a Buy rating. RenovoRx shares rose 0.1% to close at $1.05 on Wednesday. <a href="https://www.benzinga.com/quote/rnxt/analyst-ratings">See how other analysts view this stock.</a></li>
<li>HC Wainwright &amp; Co. raised Instil Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIL#NASDAQ">TIL</a>) price target from $25 to $40. HC Wainwright &amp; Co. analyst Mitchell Kapoor maintained a Buy rating. Instil Bio shares gained 20.6% to close at $29.65 on Wednesday. <a href="https://www.benzinga.com/quote/til/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird cut Domino&#8217;s Pizza, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) price target from $580 to $535. Baird analyst David Tarantino maintained an Outperform rating. Domino&#8217;s shares fell 2.1% to close at $407.97 on Wednesday. <a href="https://www.benzinga.com/quote/dpz/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Piper Sandler raised the price target for Exact Sciences Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXAS#NASDAQ">EXAS</a>) from $75 to $85. Piper Sandler analyst David Westenberg maintained an Overweight rating. Exact Sciences shares gained 9.8% to close at $64.12 on Wednesday. <a href="https://www.benzinga.com/quote/exas/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Truist Securities boosted Aramark (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARMK#NYSE">ARMK</a>) price target from $37 to $42. Truist Securities analyst Jasper Bibb maintained a Buy rating. Aramark shares gained 0.5% to close at $37.99 on Wednesday. <a href="https://www.benzinga.com/quote/armk/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley increased TransUnion (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRU#NYSE">TRU</a>) price target from $96 to $103. Morgan Stanley analyst Toni Kaplan maintained an Overweight rating. TransUnion shares rose 0.2% to close at $96.44 on Wednesday. <a href="https://www.benzinga.com/quote/tru/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Mizuho cut the price target for Advance Auto Parts, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) from $45 to $38. Mizuho analyst David Bellinger maintained a Neutral rating. Advance Auto Parts shares rose 0.6% to close at $38.77 on Wednesday. <a href="https://www.benzinga.com/quote/aap/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Mizuho boosted American Tower Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMT#NYSE">AMT</a>) price target from $205 to $221. Mizuho analyst Vikram Malhorta maintained a Neutral rating. American Tower shares fell 1.6% to close at $238.97 on Wednesday. <a href="https://www.benzinga.com/quote/amt/analyst-ratings">See how other analysts view this stock.</a></li>
<li>BTIG raised Alcon Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALC#NYSE">ALC</a>) price target from $98 to $104. BTIG analyst Ryan Zimmerman maintained a Buy rating. Alcon shares rose 0.1% to close at $98.22 on Wednesday. <a href="https://www.benzinga.com/quote/dpz/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying EXAS stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="517" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/12075315/image-100-1024x517.png" alt="" class="wp-image-544353" style="width:612px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/12075315/image-100-1024x517.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/12075315/image-100-300x151.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/12075315/image-100-768x387.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/12075315/image-100.png 1342w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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BTIG analyst Ryan Zimmerman maintains Alcon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALC#NYSE">ALC</a>) with a Buy and raises the price target from $98 to $104.

BTIG Maintains Buy on Alcon, Raises Price Target to $104

RBC Capital analyst Jack Reynolds-Clark upgrades Alcon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALC#NYSE">ALC</a>) from Sector Perform to Outperform.

Upgrades

RBC Capital Upgrades Alcon to Outperform

Alcon Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALC#NYSE">ALC</a>) reported mixed second-quarter results, <a href="https://www.benzinga.com/quote/ALC/earnings">after the closing bell on Tuesday.</a>
Alcon reported quarterly earnings of 74 cents per share which beat the analyst consensus estimate of 73 cents per share. The company reported quarterly sales of $2.48 billion which missed the analyst consensus estimate of $2.52 billion.
&#8220;We are pleased with our solid second-quarter results, which were driven by robust demand for our innovative products, our balanced geographic footprint and strong execution by our team. These factors contributed to another quarter of sales and earnings growth and robust cash generation,&#8221; said David J. Endicott, Alcon&#8217;s Chief Executive Officer. &#8220;As we look to the second half of the year, our focus will be on preparing for product launches that will position us well for our next phase of growth in 2025 and beyond.&#8221;
Alcon said it sees FY24 earnings of $3.00 to $3.10 per share on revenue of $9.9 billion to $10.1 billion.
Alcon shares gained 0.9% to trade at $95.50 on Thursday.
These analysts made changes to their price targets on Alcon following earnings announcement.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5e4d0a4aece4e600011f1fdc/david-saxon">Needham analyst David Saxon</a> maintained Alcon with a Buy and raised the price target from $101 to $107.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/586bc4bd351b9b0001ab7364/jeff-johnson">Baird analyst Jeff Johnson</a> maintained the stock with an Outperform and raised the price target from $104 to $110.</li>
<li>BTIG analyst Ryan Zimmerman maintained Alcon with a Buy, while increasing the price target from $96 to $98.</li>
<li>Oppenheimer analyst <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5e4d0a4aece4e600011f1fdc/david-saxon">Steven Lichtman</a> maintained the stock with an Outperform and raised the price target from $103 to $110.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/584eee82ee7bf60001abdc10/larry-biegelsen">Wells Fargo analyst Larry Biegelsen</a> maintained Alcon with an Overweight rating, while raising the price target from $94 to $105.</li>
</ul>
Considering buying ALC stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="524" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22120010/image-200-1024x524.png" alt="" class="wp-image-509074" style="width:573px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22120010/image-200-1024x524.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22120010/image-200-300x153.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22120010/image-200-768x393.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22120010/image-200.png 1302w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>

Wells Fargo analyst Larry Biegelsen maintains Alcon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALC#NYSE">ALC</a>) with a Overweight and raises the price target from $94 to $105.

Wells Fargo Maintains Overweight on Alcon, Raises Price Target to $105

Oppenheimer analyst Steven Lichtman maintains Alcon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALC#NYSE">ALC</a>) with a Outperform and raises the price target from $103 to $110.

Oppenheimer Maintains Outperform on Alcon, Raises Price Target to $110

BTIG analyst Ryan Zimmerman maintains Alcon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALC#NYSE">ALC</a>) with a Buy and raises the price target from $96 to $98.

BTIG Maintains Buy on Alcon, Raises Price Target to $98

Baird analyst Jeff Johnson maintains Alcon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALC#NYSE">ALC</a>) with a Outperform and raises the price target from $104 to $110.

Baird Maintains Outperform on Alcon, Raises Price Target to $110

Needham analyst David Saxon maintains Alcon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALC#NYSE">ALC</a>) with a Buy and raises the price target from $101 to $107.

Needham Maintains Buy on Alcon, Raises Price Target to $107

Alcon, Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/alc#NYSE">ALC</a>) delivered core earnings per share of 74 cents in the second quarter of 2024, up 7.2% from the year-ago quarter&#39;s figure (up 15% at the constant exchange rate or CER). The figure came in line with the Zacks Consensus Estimate.
Alcon reports &lsquo;core&#39; results based on non-IFRS (International Financial Reporting Standards) measures. In the second quarter, the company&#39;s diluted EPS was 45 cents, up 32.4% year over year.
<h3>Revenues in Detail</h3>
Alcon&#39;s net sales to third parties in the second quarter were $2.48 billion, which missed the Zacks Consensus Estimate by 1.4%. However, the top line increased by 3.3% from the year-ago quarter&#39;s levels (up 6% at CER).
<h3>Quarter in Detail</h3>
Alcon reports operations through two segments &mdash; Surgical (comprising Implantables, Consumables and Equipment/Other) and Vision Care (comprising Contact Lenses and Ocular Health).
Surgical
In the second quarter of 2024, Surgical sales amounted to $1.42 billion, up 3% year over year and 6% at CER. Our model projected the segment&#39;s growth to be 3.5% versus the prior year.
Within this, net sales in Implantables increased 6%, led by the demand for advanced technology intraocular lenses in international markets. Our model projected 3.1% year-over-year growth.
Consumables increased 3%, mainly driven by cataract and vitreoretinal consumables, particularly in international markets, and price increases. Our model&#39;s projection was an increase of 4.9%.
<div class="chart_embed">
<h3>Alcon Price, Consensus and EPS Surprise</h3>
<img alt="Alcon Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/dc/1724230877.png" style="height:265px; width:576px" title="" />
Alcon price-consensus-eps-surprise-chart | Alcon Quote
</div>
Equipment/Other was down 3% from the prior-year quarter&#39;s levels. Our model forecast stood at 0.1% growth.
Vision Care
The segment reported total sales of $1.11 billion, up 7% year over year on a reported basis and 10% at CER. Our model&#39;s projection was 6.7% growth.
Net sales of Contact Lenses increased 9% year over year, driven by product innovation, including toric multifocal modalities and price increases. This surpassed our model&#39;s projected growth of 8% year over year.
Ocular Health sales increased 5% year over year, primarily driven by the portfolio of eye drops, including continued strength from the Systane family of artificial tears. Our model forecast was 4.9%.
<h3>Margins</h3>
The cost of net sales in the second quarter was $1.12 billion, up 5.9% year over year. The core gross profit rose 0.8% to $1.37 billion in the reported quarter. Meanwhile, the core gross margin contracted 123 basis points (bps) to 55.1% in the second quarter of 2024.
SG&amp;A expenses increased 0.6% year over year, while R&amp;D expenses rose 1.4% year over year. The core operating margin fell 26 bps in the second quarter to 12.7%.
<h3>Financial Position</h3>
Alcon exited the second quarter of 2024 with cash and cash equivalents of $1.37 billion compared with $1.14 billion at the end of the first quarter.
The cumulative net cash flow from operating activities at the end of the second quarter was $871 million compared with $410 million in the year-ago period. Free cash flow totaled $667 million at the end of the second quarter of 2024 compared with $189 million in the comparable 2023 months.
<h3>2024 Outlook</h3>
Alcon reiterated its financial outlook for 2024.
The company anticipates 2024 net sales in the range of $9.90-$10.10 billion (unchanged), indicating growth of 7%-9% at CER from 2023. The Zacks Consensus Estimate for ALC&#39;s revenues is pegged at $9.94 billion.
Core EPS for the full year is expected in the range of $3.00-$3.10 (same as earlier). This suggests growth of 15%-18%% at CER from the 2023 levels. The Zacks Consensus Estimate for Alcon&#39;s 2024 earnings is currently pegged at $3.05 per share.
<h3>Our Take</h3>
Alcon closed the second quarter of 2024 with in-line earnings, while revenues missed estimates. On a positive note, the top line improved on a year-over-year basis. The performance was driven by robust demand for the company&#39;s innovative products, balanced geographic footprint and strong execution by the team. Growth in the Vision Care segment underscores the strength of contact lenses.
In June 2024, Alcon&#39;s innovations from the highly anticipated UNITY portfolio, Vitreoretinal Cataract System and Cataract System, secured the FDA&#39;s 510(k) clearance. In the second half of the year, Alcon is preparing for product launches that are set to drive its next phase of growth in 2025 and beyond.
Meanwhile, the contraction of both margins in the quarter is discouraging.
<h3>Zacks Rank and Other Key Picks</h3>
Alcon currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the broader medical space are Intuitive Surgical, DaVita Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dva#NYSE">DVA</a>) and Veracyte (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vcyt#NASDAQ">VCYT</a>).
Intuitive Surgicalreported a third-quarter 2024 adjusted EPS of $1.78, which beat the Zacks Consensus Estimate by 16.3%. Revenues of $2.01 billion topped the consensus estimate by 2%. ISRG currently sports a Zacks Rank #1 (Strong Buy).
Intuitive Surgical has an estimated long-term earnings growth rate of 16.8% in 2024 compared with the industry&#39;s 11.8%. The company&#39;s earnings surpassed estimates in each of the trailing four quarters, the average being 8.97%.
DaVita, sporting a Zacks Rank #1, reported second-quarter 2024 adjusted earnings of $2.59, which surpassed the Zacks Consensus Estimate by 4.9%. Revenues of $3.19 billion topped the Zacks Consensus Estimate by 0.7%.&nbsp;
DVA has an estimated long-term earnings growth rate of 17.5% compared with the industry&#39;s 12.4%. The company surpassed earnings estimates in each of the trailing four quarters, the average being 24.2%.
Veracyte, sporting a Zacks Rank #1, reported second-quarter diluted earnings of 30 cents per share compared with the Zacks Consensus Estimate of a loss of 3 cents. Revenues of $114.4 million exceeded the Zacks Consensus Estimate by 14%.
VCYT has an estimated 2024 earnings growth rate of 112.8% compared with the industry&#39;s 11.8%. The company surpassed earnings estimates in each of the trailing four quarters, the average being 328.4%.
<a href="https://www.zacks.com/stock/news/2324779/alcon-alc-q2-earnings-meet-estimates-revenues-increase-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2324779">To read this article on Zacks.com click here.</a>

Needham analyst David Saxon reiterates Alcon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALC#NYSE">ALC</a>) with a Buy and maintains $101 price target.

Reiteration

Needham Reiterates Buy on Alcon, Maintains $101 Price Target

2024 outlook
The Company updated its 2024 outlook as per the table below.
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">2024 outlook4</td>
<td colspan="1" rowspan="1">as of February</td>
<td colspan="1" rowspan="1">as of May</td>
<td colspan="1" rowspan="1">as of August</td>
<td colspan="1" rowspan="1">Comments</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net sales (USD)</td>
<td colspan="1" rowspan="1">$9.9 to $10.1 billion</td>
<td colspan="1" rowspan="1">$9.9 to $10.1 billion</td>
<td colspan="1" rowspan="1">$9.9 to $10.1 billion</td>
<td colspan="1" rowspan="1">Maintain</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Change vs. prior year (cc)1 (non-IFRS measure)</td>
<td colspan="1" rowspan="1">+6% to +8%</td>
<td colspan="1" rowspan="1">+7% to +9%</td>
<td colspan="1" rowspan="1">+7% to +9%</td>
<td colspan="1" rowspan="1">Maintain</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Core operating margin2 (non-IFRS measure)</td>
<td colspan="1" rowspan="1">20.5% to 21.5%</td>
<td colspan="1" rowspan="1">20.5% to 21.5%</td>
<td colspan="1" rowspan="1">20.5% to 21.5%</td>
<td colspan="1" rowspan="1">Maintain</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Interest expense and Other financial income &amp; expense</td>
<td colspan="1" rowspan="1">$190 to $210 million</td>
<td colspan="1" rowspan="1">$180 to $200 million</td>
<td colspan="1" rowspan="1">$160 to $180 million</td>
<td colspan="1" rowspan="1">Decrease</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Core effective tax rate5 (non-IFRS measure)</td>
<td colspan="1" rowspan="1">~20%</td>
<td colspan="1" rowspan="1">~20%</td>
<td colspan="1" rowspan="1">~20%</td>
<td colspan="1" rowspan="1">Maintain</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Core diluted EPS2 (non-IFRS measure)</td>
<td colspan="1" rowspan="1">$3.00 to $3.10</td>
<td colspan="1" rowspan="1">$3.00 to $3.10</td>
<td colspan="1" rowspan="1">$3.00 to $3.10</td>
<td colspan="1" rowspan="1">Maintain</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Change vs. prior year (cc)1 (non-IFRS measure)</td>
<td colspan="1" rowspan="1">+13% to +16%</td>
<td colspan="1" rowspan="1">+15% to +18%</td>
<td colspan="1" rowspan="1">+15% to +18%</td>
<td colspan="1" rowspan="1">Maintain</td>
</tr>
</tbody>
</table>
</figure>
This outlook assumes the following:
<ul>
<li>Aggregated markets grow in line with historical averages (mid-single digits);</li>
<li>Exchange rates as of the end of July 2024 prevail through year-end;</li>
<li>Approximately 498 million weighted-averaged diluted shares.</li>
</ul>
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">4.</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">The forward-looking guidance included in this press release cannot be reconciled to the comparable IFRS measures without unreasonable effort, because we are not able to predict with reasonable certainty the ultimate amount or nature of exceptional items in the fiscal year. Refer to the 'Footnotes' section for additional information.</td>
</tr>
<tr>
<td colspan="1" rowspan="1">5.</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">Core effective tax rate, a non-IFRS measure, is the applicable annual tax rate on core taxable income. Refer to the 'Footnotes' section for additional information.</td>
</tr>
</tbody>
</table>
</figure>

Guidance

Alcon Sees FY24 EPS $3.00-$3.10 Vs $3.07 Est.; Revenue $9.9B-$10.1B Vs $9.96B Est.

WIIM

Alcon shares are trading lower after the company reported worse-than-expected Q2 sales results.

Alcon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALC#NYSE">ALC</a>) reported quarterly earnings of $0.74 per share which beat the analyst consensus estimate of $0.73 by 1.37 percent. This is a 7.25 percent increase over earnings of $0.69 per share from the same period last year. The company reported quarterly sales of $2.48 billion which missed the analyst consensus estimate of $2.52 billion by 1.51 percent. This is a 3.33 percent increase over sales of $2.40 billion the same period last year.

Alcon Q2 Adj EPS $0.74 Beats $0.73 Estimate, Sales $2.48B Miss $2.52B Estimate

Alcon (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/alc#NYSE">ALC</a>) has been gaining from a strong pipeline and its focus on research and innovation. Market share gains also aid growth. The stock currently carries a Zacks Rank #2 (Buy).
In Presbyopia-correcting Intraocular Lens (PCIOLs), Alcon currently leads the market with more than 60% share globally and over 80% share in the United States. In Surgical, the company maintains a strong market share in PCIOLs, driven by strong demand for products like PanOptix and Vivity despite new market entrants. Vivity&#39;s non-diffractive properties, ease of use and consistency of surgical outcomes make it particularly appealing.
Within Surgical, Alcon commercially launched SMARTCataract in the United States. This is expected to broaden the scope of the company in the growing surgical ophthalmology space. The company currently sees meaningful share gains driven by its new toric product launches, including Precision1, Total30 and Dailies Total1.
The company will offer a cataract-only system called UNITY CS, which will be available in 2026. Importantly, UNITY brings with it new and innovative consumables that drive incremental benefits for the surgeon. The launch of these instruments will help the company secure the next decade of the company&#39;s consumables business, which is a large, recurring and profitable revenue stream.
In ocular health, the company is also expanding business with the integration of Rocklatan and Rhopressa and concluded Phase 3 trials for AR-15512, the dry-eye pharmaceutical candidate. In addition, the company is witnessing growth in its over-the-counter portfolio, mainly driven by favorable pricing and a sustained family of products. The company looks forward to the growing demand for its multi-dose preservative-free formulations, which are helping expand the U.S. preservative-free category.
Alcon&#39;s Surgical business continues to gain from a diverse portfolio and incremental innovation. In terms of the latest developments within Implantables, Alcon&#39;s technology continues to lead the market. Globally, one out of every three IOLs implanted is done with an Alcon lens. In premium lenses, the statistic is even more impressive, with one out of two ATIOLs being an Alcon product. The company&#39;s flagship lenses, Vivity and PanOptix, continue to lead the category in the United States and around the world. Additionally, it continues to expand in areas where it has significant opportunities to grow share, such as China.
<div class="chart_embed">
<h3>Alcon Price</h3>
<img alt="Alcon Price" src="https://staticx-tuner.zacks.com/images/charts/62/1724161553.png" style="height:251px; width:538px" title="" />
Alcon price | Alcon Quote
Within the Surgical franchise, revenues were up 6% year over year in the first quarter, mainly driven by advanced technology intraocular lenses, including Vivity, PanOptix and monofocal torics in international markets.
</div>
Within Vision Care, Alcon is registering solid growth, banking on strong sales of its contact lenses and ocular health products. In contact lenses, the company is successfully executing its strategy of investing in fast-growing market segments where it has significant share opportunities. As a result, Alcon is outpacing market growth in every category where it has launched new products.
In contact lenses, Alcon with its strategic investments, has secured its position as one of the fastest-growing companies. It is witnessing strong interest in its specialty lenses, including multifocal and toric.
On the flip side, Alcon is experiencing inflationary pressure in electronic components, freight, labor, resins and plastics, impacting the company&#39;s margins. The company is also encountering supply chain challenges in certain components, including microchips, resins and plastics, metals and filters. The company expects these inflationary pressures and supply chain challenges to continue in 2024. The cost of net sales in the first quarter was up 2.9% year over year. Our model estimates a 5.4% increase in the metric for full-year 2024.
Meanwhile, the ophthalmology industry is highly competitive. In the surgical business, Alcon competes with large manufacturers with multiple business lines as well as small manufacturers that offer a limited selection of specialized products. The company also&nbsp;faces competition&nbsp;from&nbsp;providers&nbsp;of&nbsp;alternative&nbsp;medical&nbsp;therapies,&nbsp;such&nbsp;as&nbsp;pharmaceutical&nbsp;companies that have&nbsp; the potential to disrupt core elements of its business.
In vision care business, the market for contact lenses is intensely competitive and is characterized by declining sales volumes for older and reusable product lines and growing demand for daily lenses and advanced materials lenses. Increased product entries from contact lens manufacturers in Asia also pose a massive threat.
<h3>Other Key Picks</h3>
Some other top-ranked stocks in the broader medical space are Masimo (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/masi#NASDAQ">MASI</a>), Boston Scientific (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bsx#NYSE">BSX</a>) and Myriad Genetics (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mygn#NASDAQ">MYGN</a>). While Masimo sports a Zacks Rank #1 (Strong Buy) at present, Boston Scientific and Myriad Genetics carry a Zacks Rank #2 each.
Masimo shares have risen 10.8% in the past year. Estimates for the company&#39;s earnings have increased from $3.63 to $3.83 for 2024 and from $3.97 to $4.20 for 2025 in the past 30 days.
MASI&#39;s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 14.6%. In the last reported quarter, it posted an earnings surprise of 11.7%.
Estimates for Boston Scientific&#39;s 2024 earnings per share have moved up to $2.40 from $2.32 in the past 30 days. Shares of the company have rallied 56% in the past year compared with the industry&#39;s rise of 11.1%.
BSX&#39;s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 7.2%. In the last reported quarter, it delivered an earnings surprise of 6.9%.
Estimates for Myriad Genetics&#39; 2024 earnings have moved up to 5 cents from 3 cents per share in the past 30 days. Shares of the company have improved 59.3% in the past year against the industry&#39;s 3.1% fall.
MYGN&#39;s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 213.4%. In the last reported quarter, it delivered an earnings surprise of a staggering 600%.
<a href="https://www.zacks.com/stock/news/2324522/alcon-s-alc-market-share-gains-new-launches-aid-growth?cid=CS-BENZ-FT-analyst_blog|zer_report_update-2324522">To read this article on Zacks.com click here.</a>

MASI

MYGN

Alcon's Market Share Gains, New Launches Aid Growth

The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, but the index remained in the &#8220;Fear&#8221; zone on Monday.
U.S. stocks settled higher on Monday, with the S&amp;P 500 and Nasdaq recording gains for the eighth straight day. The S&amp;P 500 gained around 3.9%, while the Nasdaq and Dow Jones gained 5.2% and 2.9%, respectively, last week.
On the economic data front, the CB Leading Index fell 0.6% month-over-month in July, compared to market expectations for a 0.4% decline.
Estee Lauder Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>) shares fell over 2% on Monday after the company <a href="https://www.benzinga.com/news/earnings/24/08/40444616/estee-lauder-q4-earnings-top-asia-travel-retail-sluggish">reported</a> its fourth-quarter results. Shares of ZIM Integrated Shipping Services Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>) rose 16.7% after the company <a href="https://www.benzinga.com/news/24/08/40441869/zim-integrated-shipping-services-posts-upbeat-earnings-joins-fubotv-foghorn-therapeutics-and-other-b">reported</a> better-than-expected second-quarter financial results and raised its FY24 guidance.
All sectors on the S&amp;P 500 closed on a positive note, with communication services, information technology, and consumer discretionary stocks recording the biggest gains on Monday.
The Dow Jones closed higher by around 237 points to 40,896.53 on Monday. The S&amp;P 500 rose 0.97% to 5,608.25, while the Nasdaq Composite gained 1.39% at 17,876.77 during Monday's session.
Investors are awaiting earnings results from Lowe&#8217;s Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>), Medtronic plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>), and Alcon Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALC#NYSE">ALC</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 41.3, the index remained in the &#8220;Fear&#8221; zone on Monday, versus a prior reading of 35.4.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40439468/top-3-industrials-stocks-that-may-rocket-higher-this-month">Top 3 Industrials Stocks That May Rocket Higher This Month</a></li>
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S&P 500, Nasdaq Extend Gains For 8th Consecutive Session: Investor Sentiment Improves, But Greed Index Remains In 'Fear' Zone

With U.S. stock futures trading slightly higher this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Lowe&#8217;s Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) to report quarterly earnings at $3.99 per share on revenue of $24.01 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Lowe&#8217;s shares fell 0.2% to $242.70 in after-hours trading.</li>
<li>Palo Alto Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) <a href="https://www.benzinga.com/news/earnings/24/08/40449958/palo-alto-networks-q4-earnings-revenue-beat-eps-beat-strong-guidance-500m-added-to-buyback-and-more">reported better-than-expected results</a> for its fourth quarter and issued strong guidance. Palo Alto's board authorized an additional $500 million for share repurchases, bringing the company's remaining buyback authorization up to $1 billion. Palo Alto shares gained 1.9% to $350.00 in the after-hours trading session.</li>
<li>Analysts expect Medtronic Plc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) to post quarterly earnings at $1.20 per share on revenue of $7.89 billion. The company will release earnings before the markets open. Medtronic shares rose 0.4% to $85.17 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Fluent, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLNT#NASDAQ">FLNT</a>) reported worse-than-expected second-quarter financial results on Monday. Fluent shares tumbled 16.3% to $2.51 in the after-hours trading session.</li>
<li>Analysts expect Alcon Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALC#NYSE">ALC</a>) to post quarterly earnings at 73 cents per share on revenue of $2.52 billion after the closing bell. Alcon shares rose 0.01% to $96.27 in after-hours trading.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40439468/top-3-industrials-stocks-that-may-rocket-higher-this-month">Top 3 Industrials Stocks That May Rocket Higher This Month</a></li>
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Image generated using Midjourney

FLNT

PANW

Lowe's, Palo Alto Networks And 3 Stocks To Watch Heading Into Tuesday

Market sentiment on Wall Street turned negative on Monday morning as traders grapple with escalating global geopolitical risks.
In a <a href="https://www.gov.uk/government/news/joint-statement-on-the-middle-east-12-august-2024">joint statement</a> issued Monday, the United Kingdom, France and Germany urged Iran and its allies to avoid actions that could further escalate tensions and jeopardize prospects for a cease-fire and the release of hostages. The statement comes amid rising concern that Iran and its proxies could launch an attack on Israel in retaliation for the killing of Hamas political leader Ismail Haniyeh in Tehran late last month.
On the macroeconomic front, the New York Fed&#8217;s consumer expectations survey indicated a decline in mid-term inflation expectations but rising concerns <a href="https://www.benzinga.com/markets/equities/24/08/40318529/medium-term-inflation-expectations-drop-to-record-low-while-debt-concerns-rise-stocks-fall-gold-">about future debt repayments.</a>
In response to the heightened geopolitical risks, West Texas Intermediate (WTI) crude, as tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), surged 2.3% to $78 per barrel, marking its fourth <a href="https://www.benzinga.com/news/large-cap/24/08/40313301/oil-prices-eye-fourth-straight-day-of-gains-as-geopolitical-risks-overshadow-opecs-cooler-demand-f">consecutive session of gains</a>.
Gold also attracted safe-haven demand, rising 1.5% and nearing all-time highs, now just 0.6% away.
The S&amp;P 500 edged up 0.2%, paring earlier gains in the morning session, while bonds, as tracked by the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>), gained 0.3%.
<h3 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,567.58</td>
<td>0.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,354.36</td>
<td>0.2%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,386.45</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,062.46</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081224&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;rose 0.2% to $534.24.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;was 0.2% lower to $394.30.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.5% higher to $452.74.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) tumbled 0.9% to $204.43.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up by 1.1%. The Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) lagged, down by 1.1%.</li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul>
<li>Shares of regional lender KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>) rose about 10% after Canada&#8217;s Scotiabank announced the purchase of a minority stake in the U.S. bank in an all-stock deal worth $2.8 billion. </li>
<li>Stocks reacting to earnings were Ballard Power Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLDP#NASDAQ">BLDP</a>), down 3.6%, Barrick Gold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>), up 7.9%, and Monday.com Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDY#NASDAQ">MNDY</a>), up over 11%.</li>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) rallied over 4% following bullish notes from Bank of America and UBS. </li>
</ul>
Read Next:
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<li><a href="https://www.benzinga.com/news/24/08/40315020/trumps-battle-with-interest-rates-did-he-sway-fed-policy-as-president">Trump&#8217;s Battle With Interest Rates: Did He Sway Fed Policy As President?</a></li>
</ul>
Photo via Shutterstock.

Equities

Macro Economic Events

Sector ETFs

Broad U.S. Equity ETFs

Politics

Econ #s

Economics

Movers

Tech

ETFs

BLDP

SPDR Dow Jones Industrial Average ETF Trust

GOLD

MNDY

NVDA

iShares Trust Barclays 20+ Year Treasury Bond Fund

XLRE

US Stocks Trim Gains As Iran Mulls Attack On Israel; Gold, Oil Rally: What's Driving Markets Monday?

The resilience of the market was in full display on Monday after <a href="https://www.benzinga.com/markets/equities/24/08/40295176/s-p-500-erases-weekly-losses-nasdaq-100-ends-4-week-slide-as-bulls-regain-momentum-fridays-stock">last week&#8217;s &#8220;historical comeback&#8221; by the market. </a>The major index futures traded higher, albeit by a modest magnitude. The yen weakened amid a stock market holiday in Japan and this should serve to keep the carry trade unwinding fears in check. That said, geopolitical tensions perked up after Iran-backed Lebanese paramilitary group Hezbollah launched rocket attacks on Israel amid an Iranian threat to take on the Jewish nation.
Domestically, traders may look to exercise restraint ahead of two inflation reports, due Tuesday and Wednesday, and key retail earnings reports from companies such as Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) and Walmart, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>). The CBOE Volatility Index, widely called as VIX, rose slightly but held below the 21 level. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.25%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.17%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.06%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.43%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In premarket trading on Monday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.20% to $534.07, and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.29% to $451.70, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>. </figcaption></figure>
Cues From Last Week:
The major U.S. averages extended their weekly losses, despite a fairly-tale comeback from Monday&#8217;s plunge, they ended marginally lower. The S&amp;P 500 Index, the broader market gauge, gyrated between a low and high of 5,119.26 and 5.358.67, respectively, during the week, underlining the volatility the market experienced in the week ended Aug. 9.
The VIX spiked to a high of 65.73 &#8211; a level not seen since March 2020 in the aftermath of the COVID-19 pandemic, before retracing all of that upward move and ending lower for the week.
A sharp plunge in Japanese stocks last Monday due to the unwinding of the yen carry trades amid the Japanese currency&#8217;s strengthening proved contagious and plunged the global markets into a sea of red, and Wall Street was no exception. The U.S. stocks see-sawed through the first half of the week as they reacted to earnings news and economic data before coming back up strongly on Thursday and Friday. A report showing a sharp fall in weekly jobless claims helped bring some sanity back to the market.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Week&#8217;s Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.18%</td>
<td>16,745.30</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>0.05%</td>
<td>5,344.16</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.06%</td>
<td>39,497.54</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-1.35%</td>
<td>2,080.92</td>
</tr>
</tbody>
</table>
</figure>
 Insights From Analysts:
Citing VIX&#8217;s plunge to 20, Tom Lee, Head of Research, Fund Strat, said the worst of the panic is now behind. But he cautioned that there could be ripple effects, given there is some nervousness around Iran and how much of this yen carry trade has to unwind, he <a href="https://x.com/CNBCClosingBell/status/1821993471936192763">said</a> while appearing on CNBC&#8217;s Last Call. If the upcoming week&#8217;s jobless claims come in benign, then that would quell the growth scare and give people a lot of conviction, he said.
If the yen carry trades unwind in an orderly fashion, Lee said it may not hurt the market much. 
Upcoming Economic Data:
The unfolding week&#8217;s economic calendar is more back-end loaded, with the July consumer and producer inflation reports, the July retail sales data, two August regional manufacturing activity data, the July industrial production report, and the University of Michigan&#8217;s preliminary consumer sentiment reading for August, all likely to be on investors&#8217; radar.
<ul>
<li>On Monday at 11 a.m. EDT, the New York Federal Reserve will release its inflation expectations readings for July. In June, the one-year inflation expectation was at 3%.</li>
<li>The Treasury will auction three- and six-month bills at 11:30 a.m. EDT.</li>
<li>The Treasury will release the monthly federal budget at 2 p.m. EDT. The budgetary balance for July is expected to show a deficit of $254.3 billion, wider than the deficit of $66 billion in June.</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures </a>
Stocks In Focus:
<ul>
<li>Shares of regional lender KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>) rose about 15% after Canada&#8217;s Scotiabank announced the purchase of a minority stake in the U.S. bank in an all-stock deal worth $2.8 billion. </li>
<li>Hawaiian Electric Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HE#NYSE">HE</a>) fell over 10% after raising a going concern warning, citing the impact of the Maui wildfire settlement financing.</li>
<li>Ballard Power Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLDP#NASDAQ">BLDP</a>), Barrick Gold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>), and Monday.com Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDY#NASDAQ">MNDY</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">notable companies reporting ahead of the market opening.</a> Alcon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALC#NASDAQ">ALC</a>) is due to report after the close.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
WTI-grade crude futures climbed over 1% to $77.5+ a barrel on Monday, and gold futures rose modestly as they approached the $2,500 level. The 10-year Treasury note yielded 3.955%, up 1.3 basis points. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) traded under $59K as it <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40305000/bitcoin-ethereum-dogecoin-slide-as-middle-east-tensions-escalate-after-hezbollahs-israel-a">pulled back more than 3% over the past 24 hours amid geopolitical tensions.</a>
Most Asian markets advanced on Monday, led by the South Korean and Taiwanese markets, while the Chinese, Indian, and Singaporean markets settled lower. The Japanese market remained closed on account of a public holiday.
European stocks traded mixed in early trading at the start of the week.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40303909/economist-pours-cold-water-on-september-rate-cut-we-need-to-see-some-sustained-weakness">Economist Pours Cold Water On September Rate Cut: &#8216;We Need To See Some Sustained Weakness&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

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Nasdaq, S&P 500 Futures Climb After Volatile Week As Traders Eye Inflation Data and Retail Earnings: Strategist Says Not CPI But This Data Can Give People Lot Of Conviction

Morgan Stanley analyst Patrick Wood maintained a Hold rating on Alcon (ALC – Research Report) today and set a price target of $85.00. The company's...

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Alcon Q2: Positive News From Unity VCS/CS And AR-15512

The healthcare industry's long-term growth is fueled by rising R&D initiatives and the adoption of cutting-edge technologies. Hence, it could be ideal to buy fundamentally solid medical device stocks Alcon (ALC), Becton, Dickinson and Company (BDX), and STERIS (STE) for potential returns. Keep reading... The healthcare industry is well-positioned for significant expansion, driven by evolving demand amid the growing prevalence of chronic diseases and an aging population. Also, recent technological advances such as AI, big data analytics, and precision medicine have fueled the market prospects.
Amid this backdrop, investors could consider investing in quality healthcare stocks Alcon Inc. (<a href="https://stocknews.com/stock/ALC/">ALC</a>), Becton, Dickinson and Company (<a href="https://stocknews.com/stock/BDX/">BDX</a>), and STERIS plc (<a href="https://stocknews.com/stock/STE/">STE</a>) which are transforming towards patient care through innovation.
The <a href="https://www.deloitte.com/global/en/Industries/life-sciences-health-care/analysis/global-health-care-outlook.html">global healthcare industry is currently undergoing significant changes</a> owing to the challenge of quality, access, and affordability for the public worldwide. However, the adoption of intuitive technology like artificial intelligence (AI) also presents possible solutions to enhance processes and increase efficiency.
Recently, R&amp;D initiatives by healthcare organizations have also increased exponentially in segments like medical devices and pharmaceuticals. With this development, the global medical devices market is predicted to reach a staggering revenue of $508 billion in 2024. The industry is expected to <a href="https://www.statista.com/outlook/hmo/medical-technology/medical-devices/worldwide">grow at a CAGR of 5.7%</a>, resulting in a projected volume of $669.70 billion by 2029.
In global comparison, the U.S. medical devices market size is projected to grow from $188.68 billion in 2024 to <a href="https://www.fortunebusinessinsights.com/u-s-medical-devices-market-107009">$314.96 billion by 2032</a>, expanding at a CAGR of 6.6% driven by the increasing prevalence of chronic diseases, increasing healthcare expenses, and the existence of major manufacturers.
Also, rising investments by medical device companies for innovation to enhance their patent portfolios and <a href="https://www.medicaldevice-network.com/data-insights/artificial-intelligence-in-medical/?cf-view">leveraging AI</a> have opened lucrative deals and avenues. AI technologies improve healthcare operations and patient care, and the US is the leading country in its adoption, with the highest number of AI-related patents, jobs, and deals.
Given these favorable market trends, let's look at the fundamentals of the top three <a href="https://stocknews.com/category/medical-devices-equipment/">Medical – Devices &amp; Equipment</a> stocks, beginning with the third choice.
Stock #3: Alcon Inc. (<a href="https://stocknews.com/stock/ALC/">ALC</a>)
Headquartered in Geneva, Switzerland, ALC researches, develops, manufactures, distributes, and sells eye care products for eye care professionals and their patients globally. The company operates through the Surgical segment and the Vision Care segment.
On June 24, ALC's UNITY&#xAE; Vitreoretinal Cataract System (VCS) and UNITY&#xAE; Cataract System (CS) received the FDA 510(k) clearance. These innovations introduced significant workflow efficiencies over the company's current market-leading systems. Unity VCS and Unity CS are also the first innovations to be introduced from ALC's highly anticipated Unity portfolio.
Further, on March 12, ALC launched the Clareon&#xAE; Family of intraocular lenses in India. Clareon provides consistent visual outcomes and exceptional clarity that lasts as it was developed through ALC's most advanced IOL material.
ALC's net sales and other revenues for the second quarter that ended June 30, 2024, increased 3.1% year-over-year to $2.50 billion. Its <a href="https://www.investopedia.com/terms/g/grossprofit.asp">gross profit</a> grew marginally from the year-ago value to $1.37 billion. The company's net income and EPS totaled $223 million and $0.45, up 31.9% and 32.3% from the prior year's quarter, respectively.
The company has maintained its 2024 outlook from the prior announcement. Net sales of ALC are forecasted between $9.90 billion and $10.10 billion, while its core EPS is expected to be $3 to $3.10.
Street expects ALC's revenue and EPS for the third quarter (ending September 2024) to increase 6% and 11.5% year-over-year to $2.47 billion and $0.74, respectively. Also, the company has topped the consensus EPS estimate in three of the trailing four quarters.
Shares of ALC have surged 10% over the past six months and 15.6% over the past year to close the last trading session at $94.47.
ALC's bright prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
The stock has an A grade for Stability. It also has a B grade for Growth. Within the <a href="https://stocknews.com/category/medical-devices-equipment/">Medical – Devices &amp; Equipment</a> industry, ALC is ranked #41 out of 132 stocks.
<a href="https://stocknews.com/stock/ALC/">Click here</a> to access additional ratings of ALC for Momentum, Sentiment, Value, and Quality.
Stock #2: Becton, Dickinson and Company (<a href="https://stocknews.com/stock/BDX/">BDX</a>)
BDX develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products for healthcare institutions, physicians, life science researchers, clinical laboratories, the pharmaceutical industry, and the general public internationally. It operates in three segments: BD Medical; BD Life Sciences; and BD Interventional.
On September 3, BDX completed the acquisition of Edwards Lifesciences' Critical Care product group, to be renamed BD Advanced Patient Monitoring. The acquisition enables various future innovation opportunities and expands BDX's portfolio of smart connected care solutions with leading monitoring technologies, like advanced AI-enabled clinical decision tools.
On July 25, BDX and Quest Diagnostics (DGX), a leader in diagnostic information services, entered a global collaboration agreement to develop, manufacture and commercialize flow cytometry-based companion diagnostics. This can help in selecting the best treatment for patients with cancer and other diseases.
During the third quarter that ended June 30, 2024, BDX's adjusted revenues increased 3.7% year-over-year to $5.06 billion. Its operating income grew 9.7% from the year-ago value to $602 million. The company's net income and EPS came in at $487 million and $1.68, reflecting growths of 19.7% and 23.5% year-over-year, respectively.
As per the company's fiscal 2024 guidance, BDX expects adjusted revenue of $20.10 billion to $20.20 billion. It expects adjusted EPS between $13.05 and $13.15, at a projected growth of 6.9% to 7.7%.
Analysts expect the company's EPS for the fourth quarter (ending September 2024) to increase 10.1% year-over-year to $3.77, while its revenue is expected to grow 5.1% year-over-year to $5.34 billion. Moreover, BDX surpassed the consensus EPS estimates in three of the trailing four quarters.
BDX's shares have gained marginally over the past six months to close the last trading session at $236.34.
BDX's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
The stock has a B grade for Sentiment, Stability, and Growth. Within the Medical – Devices &amp; Equipment industry, BDX is ranked #27 out of 132 stocks.
In addition to the POWR Ratings we've stated above, we also have BDX ratings for Quality, Momentum, and Value. Get all BDX ratings <a href="https://stocknews.com/stock/BDX/">here</a>.
Stock #1: STERIS plc (<a href="https://stocknews.com/stock/STE/">STE</a>)
STE offers infection prevention products and services worldwide. The company operates through three segments: Healthcare; Applied Sterilization Technologies (AST); and Life Sciences.
On July 31, STE announced to distribute a quarterly interim dividend of $0.57 per share representing a $0.05 increase in the dividend. The dividend is payable on September 20, 2024, to shareholders of record at the close of business on September 5, 2024.
STE pays an annual dividend of $2.28, which translates to a yield of 0.94% at the current share price. Its four-year average dividend yield is 0.86%. Moreover, the company's dividend payouts have increased at a CAGR of 9.3% over the past three years. STERIS has raised its dividends for 13 consecutive years.
For the fiscal 2025 first quarter that ended June 30, 2024, STE's revenues increased 8.1% year-over-year to $1.28 billion. Its adjusted gross profit rose 8.8% from the year-ago value to $576.61 million. Adjusted net income attributable to shareholders and adjusted EPS came in at $212.64 million and $2.14, up 7.3% and 7% year-over-year, respectively.
In addition, the company's cash and cash equivalents and total assets stood at $198.33 million and $10.11 billion as of June 30, 2024.
For the fiscal year 2025, STE expects adjusted net income from continuing operations per share between $9.05 and $9.25. And its free cash flow is anticipated to be $700 million.
Street expects STE's revenue for the fourth quarter (ending March 2025) to increase marginally year-over-year to $1.50 billion. The company's EPS for the same quarter is expected to grow 2.7% year-over-year to $2.65. Also, the company surpassed the consensus revenue and EPS estimates in all of the trailing four quarters.
STE's stock has increased 3.1% over the past six months and 7.5% over the past year to close the last trading session at $239.84.
STE's POWR Ratings reflect its sound fundamentals. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
STE has a B grade for Sentiment, Stability, and Growth. It is ranked #13 out of 132 stocks in the same industry.
In addition to the POWR Ratings we've stated above, we also have STE ratings for Momentum, Value, and Quality. Get all STE ratings <a href="https://stocknews.com/stock/STE/">here</a>.
What To Do Next?
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<hr />
BDX shares were trading at $233.94 per share on Thursday afternoon, down $2.40 (-1.02%). Year-to-date, BDX has declined -3.29%, versus a 16.29% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/bdx-alc-ste-3-healthcare-innovators-transforming-patient-care/>3 Healthcare Innovators Transforming Patient Care</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Healthcare Innovators Transforming Patient Care

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