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Alcon, Inc. (ALC) Stock Declined on Wednesday, Here’s What you Should Know

Alcon, Inc. (ALC) is a major eye care company which is engaged in the discovery, development manufacture and commercialization of products related to eyecare. The surgical products include intraocular lenses and other implantable products, while the cataract products include vision systems, lasers and ophthalmic microscopes. Its refractive surgery products include glaucoma filtration devices and WaveLight lasers, while vision care section includes disposable contact lenses, ocular vitamins and redness relievers.

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The price of ALC stock during the regular trading hours on January 12, 2022 was $78.59 with a decline of 1.26%. At last check in the aftermarket, the stock showed no moves and stood at same price of $78.59.

ALC: Events and Happenings

On January 12, 2022, ALC reported about launching of its novel dry eye products portfolio i.e., Systane which are Completely Preservative-Free Lubricant Eye Drops, in multi-dose and easy-to-use bottle. On January 11, 2022, ALC reported about launching the pioneer Water Gradient contact lens for patients with astigmatism known as DAILIES TOTAL1. The availability of the lenses will start in March.

On January 10, 2022, ALC reported about the closure of its already announced purchase of Ivantis. Ivantis is the designer of the innovative Hydrus Microstent which is a minimal invasive glaucoma surgery (MIGS) portfolio used to lower pressure of the eye for open-angle glaucoma treatment in relation to cataract surgery.

On December 15, 2021, ALC reported about the availability of its spherical lens in important markets through Latin America, North America and Asia. The company also announced availability of PRECISION1 for Astigmatism in markets through Europe and North America.

ALC: Key Financials

On November 10, 2021, ALC announced its financial results for the three months ended September 30, 2021. Some of the key features are as follows

Net Income/Loss per Share

Basic and diluted net income for three months of 2021 was $2 million or none basic and diluted earnings per share as compared to the same period of 2020 when net loss was $147 million or $0.30 per share.

Net Sales

Net sales for third quarter of 2021 were $2084 million as compared to the same period of 2020 when it was $1818 million.

On November 8, 2021, ALC reported featuring its development in integrated and connected surgical operations or SMART Solutions at the American Academy of Ophthalmology (AAO) 2021 annual meeting. SMART Solutions is an online program used for ophthalmology solutions.

On November 1, 2021, ALC reported that it showcased its novel research findings at the American Academy of Optometry Annual Meeting held on November 3-6, 2021. The meeting also marked the launch of TOTAL30 which is pioneer monthly replaced Water Gradient contact lens.

Conclusion

Although the company’s stock increased 12% from the last six months period, the company showed abrupt behavior by declining in the regular trading session while showing no moves in the current aftermarket. In spite of the fact that the company recently announced about achieving the milestone of the launch of preservative-free eye drops, the static aftermarket stock is possibly due to uncertain market environment.

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