Stock of the Day - November 10, 2023

STAAR Surgical (STAA)

$26.44

-$2.54 (-8.8%)

Market Cap: $1.44B

About STAAR Surgical

STAAR Surgical Company, together with its subsidiaries, designs, develops, manufactures, markets, and sells implantable lenses for the eye, and companion delivery systems to deliver the lenses into the eye.

The company provides implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists. The company sells its products directly through its sales representatives in the United States, Japan, Germany, Spain, Canada, the United Kingdom, and Singapore, as well as through own representatives and independent distributors in China, Korea, India, France, Benelux, Italy, and internationally. STAAR Surgical Company was incorporated in 1982 and is headquartered in Lake Forest, California.

Today's Trend

STAAR Surgical Company (NASDAQ: STAA) is moving higher after reporting a strong first quarter and sparking a wave of bullish analyst reaction. The company posted a profit of $0.38 per share versus expectations of $0.13, and revenue topped estimates as well. Investors are encouraged by the turnaround from a loss a year ago, along with signs of improving demand, especially in China.

STAAR Surgical beat Q1 earnings and revenue expectations, with the business swinging to a profit and showing strong year-over-year improvement. Staar Surgical (STAA) Tops Q1 Earnings and Revenue Estimates
Wedbush upgraded STAA to Outperform and lifted its price target to $40, citing improving prospects tied to a China recovery. STAAR Surgical was upgraded by Wedbush
Mizuho also turned more constructive on the stock with a higher price target, reflecting better earnings momentum and outlook expectations. Mizuho Issues Positive Forecast for STAAR Surgical Stock Price
Commentary around the earnings call highlighted China strength, cost discipline, and stabilizing inventory as drivers of the turnaround. Staar Surgical Signals Sharp Turnaround Amid China Strength
Wells Fargo raised its price target to $25 but kept an Equal Weight rating, signaling some caution despite the recent rally. STAAR Surgical had its price target raised by Wells Fargo
Some analysts still see limited visibility into STAAR Surgical’s 2026 outlook, and a new risk disclosure added to uncertainty around future performance and valuation. Staar Surgical Faces Heightened Uncertainty

Overall, STAA appears to be rising on the back of a meaningful earnings beat, improving operational trends, and multiple analyst upgrades/target increases, while lingering caution centers on visibility and regulatory risk.

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STAAR Surgical (STAA)

About STAAR Surgical

Today's Trend

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