In a report released yesterday, Scott Bardo from Berenberg Bank maintained a Hold rating on Alcon Inc (ALC), with a price target of $58. The company’s shares closed last Monday at $59.46.
According to TipRanks.com, Bardo is a 4-star analyst with an average return of 17.0% and a 64.9% success rate. Bardo covers the Healthcare sector, focusing on stocks such as Siemens Healthineers AG, Tecan Group AG, and LivaNova PLC.
Currently, the analyst consensus on Alcon Inc is a Moderate Buy with an average price target of $63.91.
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Based on Alcon Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.9 billion and GAAP net loss of $390 million. In comparison, last year the company earned revenue of $1.76 billion and had a net profit of $329 million.
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Alcon, Inc. engages in the development, manufacture, and marketing of market surgical equipment and devices, pharmaceutical eye drops, and consumer vision care products to treat eye diseases and disorders. It operates through Surgical and Vision Care segments.