UBS’ Top Tech Based Disruptive Stocks For 2030: Top 29 Stocks

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17. Alcon Inc. (NYSE:ALC)

Number of Hedge Fund Holders In Q2 2024: 22

Alcon Inc. (NYSE:ALC) is a Novartis spin off that is one of the biggest eye care products providers in the world. Its size and association with the healthcare giant have enabled it to amass considerable resources. As of its latest quarter, Alcon Inc. (NYSE:ALC) had cash and equivalents worth $1.1 billion. These enable the firm to maintain its competitive edge in a highly complex industry. Alcon Inc. (NYSE:ALC) enjoys significant competitive advantages in the industry courtesy of its wide portfolio of intraocular lenses which range from simple solutions to trifocal and tri focal lenses. Alcon Inc. (NYSE:ALC) has also kept the pedal to the metal in developing new products. It secured FDA clearance for two new surgical systems in June, and they could generate sizeable catalysts for the firm in the future.

Alcon Inc. (NYSE:ALC) also operates in the reusable lens industry Here’s what the firm had to say about a new product during the Q2 2024 earnings call:

“In addition, we will further expand our reusable portfolio with the upcoming launch of PRECISION7. PRECISION7 is a new contact lens specifically designed for a one week replacement schedule that’s based on a unique proprietary technology. We expect PRECISION7 to help drive continued share gains in the reusable category, where we have historically been under indexed. As a reminder, one point of share gain in the global reusables category corresponds to approximately $40 million of revenue for Alcon. We’re working with a handful of eye care professionals in the US who have started fitting PRECISION7 and early feedback has been excellent. We will continue to collect this feedback with select customers through 2024 ahead of a broader commercial launch in 2025.”

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