BTIG Upgraded Staar Surgical Stock - Read Why

  • BTIG upgraded Implantable lenses-focused Staar Surgical Company STAA to Buy from Neutral with a $98 price target. 
  • Analyst Ryan Zimmerman believes that the Company's fundamentals will likely improve in 2H of 2022 as U.S. physicians appear more apt to try EVO upon clearance than in his previous channel checks as Staar prepares for launch. 
  • After accounting for Staar's current U.S. customer base, Zimmerman sees the Company hit Street expectations in the U.S. without much increase in physicians.
  • In the U.S., submission of clinical data for STAAR's EVO family of myopia lenses remains under customary interactive FDA review.
  • Q4 sales increased 28% Y/Y to $59 million, driven by ICL sales and unit growth of 33% and 36%, respectively.
  • Staar held cash and cash equivalents of $199.7 million.
  • The Company reaffirmed FY22 sales outlook of approximately $295 million, subject to no unforeseen incremental impact from Covid, representing 28% growth Y/Y.
  • Price Action: STAA shares are up 7.90% at $75.25 during the market session on the last check Friday.
Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsUpgradesHealth CareAnalyst RatingsMoversTrading IdeasGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!