Alcon (ALC) Posted Above-Market Growth in Q2

Madison Investments, an investment advisor, released its “Madison Investors Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund advanced 8.5% compared to an 8.7% return for S&P 500 Index benchmark.  In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Madison Investors Fund highlighted stocks like Alcon Inc. (NYSE:ALC) in the second quarter 2023 investor letter. Headquartered in Geneva, Switzerland, Alcon Inc. (NYSE:ALC) engages in the research, development, manufacturing, and distribution of eye care products. On July 13, 2023, Alcon Inc. (NYSE:ALC) stock closed at $84.70 per share. One-month return of Alcon Inc. (NYSE:ALC) was 4.22%, and its shares gained 18.88% of their value over the last 52 weeks. Alcon Inc. (NYSE:ALC) has a market capitalization of $41.655 billion.

Madison Investors Fund made the following comment about Alcon Inc. (NYSE:ALC) in its second quarter 2023 investor letter:

“In the second quarter, the top five contributors to performance were Alphabet, Copart, Alcon Inc. (NYSE:ALC), Parker-Hannifin, and PACCAR. Alcon continues to deliver above-market growth, driven by new product launches in contact lenses and a strong line-up in surgical products. Alcon’s superior innovation is really shining through, as are the operational and governance benefits of separating from Novartis. In addition, the eye surgery end market is steadily recovering from the Covid-triggered pauses in procedures.”

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Alcon Inc. (NYSE:ALC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held Alcon Inc. (NYSE:ALC) at the end of first quarter which was 26 in the previous quarter.

We discussed Alcon Inc. (NYSE:ALC)  in another article and shared ClearBridge Large Cap Growth Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.