ALC - Watch for Continued Gains in Shares of Alcon Inc. (ALC)

Shares of Alcon Inc. (NYSE:ALC) traded today at $80.54, eclipsing its 52-week high. This new high was reached on above average trading volume as 2.1 million shares traded hands, while the average 30-day volume is approximately 741,000 shares.

Alcon Inc. (NYSE:ALC) has potential upside of 20.8% based on a current price of $79.56 and analysts' consensus price target of $96.14.

Alcon, headquartered in Fort Worth, Texas, is the global eyecare leader with a diverse portfolio in ophthalmology including contact lenses, eye drops, surgical equipment, and related surgical products. Novartis purchased Alcon from Nestle in 2010 and, following nine years as a Novartis subsidiary, the company was spun-off as a public company in April 2019. The company reports five distinct segments: implantables (16% of revenue), consumables (31%), equipment (9%), contact lenses (27%), and ocular health (17%). The company is geographically diversified, with only about 40% of revenue from the U.S. market, and the firm has a strong presence in the European Union and Japan.

Over the past year, Alcon Inc. has traded in a range of $54.51 to $80.54 and is now at $79.56, 46% above that low.

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