Staar Surgical (STAA)
Market Price (9/20/2026): $20.84 | Market Cap: $1.0 BilSector: Health Care | Industry: Health Care Equipment
Staar Surgical (STAA)
Market Price (9/20/2026): $20.84Market Cap: $1.0 BilSector: Health CareIndustry: Health Care Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -14% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 51% Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, Precision Medicine, and Medical Technology & Innovation. Themes include Ophthalmic Surgical Solutions, Show more. | Weak multi-year price returns2Y Excs Rtn is -72%, 3Y Excs Rtn is -124% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 26x, P/EPrice/Earnings or Price/(Net Income) is 273x Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2.0% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.8% Key risksSTAA key risks include [1] its heavy market dependency on a challenged Chinese market and [2] intense competition from established alternative vision correction procedures like LASIK. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -14% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 51% |
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, Precision Medicine, and Medical Technology & Innovation. Themes include Ophthalmic Surgical Solutions, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -72%, 3Y Excs Rtn is -124% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 26x, P/EPrice/Earnings or Price/(Net Income) is 273x |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2.0% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.8% |
| Key risksSTAA key risks include [1] its heavy market dependency on a challenged Chinese market and [2] intense competition from established alternative vision correction procedures like LASIK. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 9/17/2026
Staar Surgical (STAA) stock has lost about 30% since 5/31/2026 because of the following key factors:
1. Tempered Outlook on China Market and Q3 Seasonality.
Despite reporting robust Q2 2026 net sales of $93.5 million, an increase of 111% year-over-year which also surpassed analyst estimates, investor enthusiasm for Staar Surgical was likely dampened by management's commentary regarding its crucial China market. The company highlighted a "shift in seasonality" in China's refractive surgery market and projected that fiscal Q3 2026 sales in China would be "seasonally lower than Q2". This forward-looking guidance suggested a potential slowdown or increased volatility in a key growth region, despite the strong preceding quarter.
2. Persistent Impact of China Tariffs on Margins.
Staar Surgical indicated that its gross margins continue to be negatively affected by China tariffs on U.S.-manufactured products. While the company aims to mitigate this by shifting 100% of its China-bound product manufacturing to Switzerland, this transition is not expected to be completed until the "end of 2026". This extended timeline implies sustained pressure on profitability for the remainder of the fiscal year, creating uncertainty around short-term margin expansion despite the reported Q2 2026 gross margin of 74.5%.
Show more
Staar Surgical (STAA) stock has lost about 30% since 5/31/2026 because of the following key factors:
1. Tempered Outlook on China Market and Q3 Seasonality.
Despite reporting robust Q2 2026 net sales of $93.5 million, an increase of 111% year-over-year which also surpassed analyst estimates, investor enthusiasm for Staar Surgical was likely dampened by management's commentary regarding its crucial China market. The company highlighted a "shift in seasonality" in China's refractive surgery market and projected that fiscal Q3 2026 sales in China would be "seasonally lower than Q2". This forward-looking guidance suggested a potential slowdown or increased volatility in a key growth region, despite the strong preceding quarter.
2. Persistent Impact of China Tariffs on Margins.
Staar Surgical indicated that its gross margins continue to be negatively affected by China tariffs on U.S.-manufactured products. While the company aims to mitigate this by shifting 100% of its China-bound product manufacturing to Switzerland, this transition is not expected to be completed until the "end of 2026". This extended timeline implies sustained pressure on profitability for the remainder of the fiscal year, creating uncertainty around short-term margin expansion despite the reported Q2 2026 gross margin of 74.5%.
Show more
Updated on 9/17/2026
Staar Surgical (STAA) stock has lost about 30% since 5/31/2026 because of the following key factors:
1. Tempered Outlook on China Market and Q3 Seasonality.
Despite reporting robust Q2 2026 net sales of $93.5 million, an increase of 111% year-over-year which also surpassed analyst estimates, investor enthusiasm for Staar Surgical was likely dampened by management's commentary regarding its crucial China market. The company highlighted a "shift in seasonality" in China's refractive surgery market and projected that fiscal Q3 2026 sales in China would be "seasonally lower than Q2". This forward-looking guidance suggested a potential slowdown or increased volatility in a key growth region, despite the strong preceding quarter.
2. Persistent Impact of China Tariffs on Margins.
Staar Surgical indicated that its gross margins continue to be negatively affected by China tariffs on U.S.-manufactured products. While the company aims to mitigate this by shifting 100% of its China-bound product manufacturing to Switzerland, this transition is not expected to be completed until the "end of 2026". This extended timeline implies sustained pressure on profitability for the remainder of the fiscal year, creating uncertainty around short-term margin expansion despite the reported Q2 2026 gross margin of 74.5%.
3. Analyst Downgrades and Price Target Reductions.
Following the release of the fiscal Q2 2026 results on August 12, 2026, several financial analysts lowered their price targets for Staar Surgical. For example, Stifel Nicolaus reduced its price target from $31.00 to $28.00 on August 17, 2026, while maintaining a "hold" rating. Similarly, Jefferies lowered its price target from $29 to $28 on August 13, 2026, also reiterating a "Hold" rating. These adjustments by the analyst community, despite the earnings beat, reflected underlying concerns about valuation and future growth prospects, contributing to a negative sentiment that drove the stock's decline. The consensus rating among analysts shifted to "Hold" or "Reduce," with an average 12-month price target of $28.40.
Show less
Staar Surgical (STAA) stock has lost about 30% since 5/31/2026 because of the following key factors:
1. Tempered Outlook on China Market and Q3 Seasonality.
Despite reporting robust Q2 2026 net sales of $93.5 million, an increase of 111% year-over-year which also surpassed analyst estimates, investor enthusiasm for Staar Surgical was likely dampened by management's commentary regarding its crucial China market. The company highlighted a "shift in seasonality" in China's refractive surgery market and projected that fiscal Q3 2026 sales in China would be "seasonally lower than Q2". This forward-looking guidance suggested a potential slowdown or increased volatility in a key growth region, despite the strong preceding quarter.
2. Persistent Impact of China Tariffs on Margins.
Staar Surgical indicated that its gross margins continue to be negatively affected by China tariffs on U.S.-manufactured products. While the company aims to mitigate this by shifting 100% of its China-bound product manufacturing to Switzerland, this transition is not expected to be completed until the "end of 2026". This extended timeline implies sustained pressure on profitability for the remainder of the fiscal year, creating uncertainty around short-term margin expansion despite the reported Q2 2026 gross margin of 74.5%.
3. Analyst Downgrades and Price Target Reductions.
Following the release of the fiscal Q2 2026 results on August 12, 2026, several financial analysts lowered their price targets for Staar Surgical. For example, Stifel Nicolaus reduced its price target from $31.00 to $28.00 on August 17, 2026, while maintaining a "hold" rating. Similarly, Jefferies lowered its price target from $29 to $28 on August 13, 2026, also reiterating a "Hold" rating. These adjustments by the analyst community, despite the earnings beat, reflected underlying concerns about valuation and future growth prospects, contributing to a negative sentiment that drove the stock's decline. The consensus rating among analysts shifted to "Hold" or "Reduce," with an average 12-month price target of $28.40.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -30.3% change in STAA stock from 5/31/2026 to 9/19/2026 was primarily driven by a -39.9% change in the company's P/S Multiple.| (LTM values as of) | 5312026 | 9192026 | Change |
|---|---|---|---|
| Stock Price ($) | 29.89 | 20.82 | -30.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 290 | 340 | 16.9% |
| P/S Multiple | 5.1 | 3.1 | -39.9% |
| Shares Outstanding (Mil) | 50 | 50 | -0.8% |
| Cumulative Contribution | -30.3% |
Market Drivers
5/31/2026 to 9/19/2026| Return | Correlation | |
|---|---|---|
| STAA | -30.3% | |
| Market (SPY) | 0.9% | 4.2% |
| Sector (XLV) | 12.7% | 11.4% |
Fundamental Drivers
The 4.6% change in STAA stock from 2/28/2026 to 9/19/2026 was primarily driven by a 47.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 2282026 | 9192026 | Change |
|---|---|---|---|
| Stock Price ($) | 19.90 | 20.82 | 4.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 231 | 340 | 47.3% |
| P/S Multiple | 4.3 | 3.1 | -28.0% |
| Shares Outstanding (Mil) | 50 | 50 | -1.4% |
| Cumulative Contribution | 4.6% |
Market Drivers
2/28/2026 to 9/19/2026| Return | Correlation | |
|---|---|---|
| STAA | 4.6% | |
| Market (SPY) | 11.6% | 9.4% |
| Sector (XLV) | 5.5% | 2.1% |
Fundamental Drivers
The -23.9% change in STAA stock from 8/31/2025 to 9/19/2026 was primarily driven by a -48.9% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 9192026 | Change |
|---|---|---|---|
| Stock Price ($) | 27.36 | 20.82 | -23.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 224 | 340 | 51.3% |
| P/S Multiple | 6.0 | 3.1 | -48.9% |
| Shares Outstanding (Mil) | 50 | 50 | -1.6% |
| Cumulative Contribution | -23.9% |
Market Drivers
8/31/2025 to 9/19/2026| Return | Correlation | |
|---|---|---|
| STAA | -23.9% | |
| Market (SPY) | 19.4% | 7.7% |
| Sector (XLV) | 24.1% | -0.4% |
Fundamental Drivers
The -52.0% change in STAA stock from 8/31/2023 to 9/19/2026 was primarily driven by a -86.6% change in the company's Net Income Margin (%).| (LTM values as of) | 8312023 | 9192026 | Change |
|---|---|---|---|
| Stock Price ($) | 43.36 | 20.82 | -52.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 306 | 340 | 11.0% |
| Net Income Margin (%) | 8.4% | 1.1% | -86.6% |
| P/E Multiple | 81.4 | 272.9 | 235.4% |
| Shares Outstanding (Mil) | 48 | 50 | -3.8% |
| Cumulative Contribution | -52.0% |
Market Drivers
8/31/2023 to 9/19/2026| Return | Correlation | |
|---|---|---|
| STAA | -52.0% | |
| Market (SPY) | 75.6% | 20.0% |
| Sector (XLV) | 32.3% | 17.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| STAA Return | 15% | -47% | -36% | -22% | -5% | -8% | -73% |
| Peers Return | -11% | -5% | 63% | 14% | -13% | -2% | 35% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 103% |
Monthly Win Rates [3] | |||||||
| STAA Win Rate | 58% | 58% | 42% | 50% | 42% | 33% | |
| Peers Win Rate | 48% | 53% | 57% | 55% | 53% | 49% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| STAA Max Drawdown | -46% | -58% | -61% | -54% | -40% | -36% | |
| Peers Max Drawdown | -30% | -35% | -26% | -23% | -45% | -30% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: JNJ, BLCO, COO, RXST, GKOS.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/18/2026 (YTD)
How Low Can It Go
| Event | STAA | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -15.1% | -18.8% |
| % Gain to Breakeven | 17.8% | 23.1% |
| Time to Breakeven | 16 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -46.3% | -24.5% |
| % Gain to Breakeven | 86.1% | 32.4% |
| Time to Breakeven | 92 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -30.5% | -33.7% |
| % Gain to Breakeven | 43.9% | 50.9% |
| Time to Breakeven | 29 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -38.4% | -19.2% |
| % Gain to Breakeven | 62.4% | 23.8% |
| Time to Breakeven | 529 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -11.6% | -3.7% |
| % Gain to Breakeven | 13.2% | 3.9% |
| Time to Breakeven | 7 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -19.2% | -12.2% |
| % Gain to Breakeven | 23.8% | 13.9% |
| Time to Breakeven | 63 days | 62 days |
In The Past
Staar Surgical's stock fell -15.1% during the 2025 US Tariff Shock. Such a loss loss requires a 17.8% gain to breakeven.
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| Event | STAA | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -46.3% | -24.5% |
| % Gain to Breakeven | 86.1% | 32.4% |
| Time to Breakeven | 92 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -30.5% | -33.7% |
| % Gain to Breakeven | 43.9% | 50.9% |
| Time to Breakeven | 29 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -38.4% | -19.2% |
| % Gain to Breakeven | 62.4% | 23.8% |
| Time to Breakeven | 529 days | 105 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -50.4% | -6.8% |
| % Gain to Breakeven | 101.6% | 7.3% |
| Time to Breakeven | 926 days | 15 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -65.6% | -53.4% |
| % Gain to Breakeven | 190.9% | 114.4% |
| Time to Breakeven | 122 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -26.3% | -8.6% |
| % Gain to Breakeven | 35.7% | 9.5% |
| Time to Breakeven | 324 days | 47 days |
In The Past
Staar Surgical's stock fell -15.1% during the 2025 US Tariff Shock. Such a loss loss requires a 17.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Staar Surgical (STAA)
STAAR Surgical Company (STAA) is a medical technology firm that specializes in developing, manufacturing, and marketing implantable lenses for the human eye, along with their associated delivery systems. The company's core mission revolves around providing advanced surgical solutions to correct various visual disorders, improving patients' eyesight.
The company's primary products include its Visian Implantable Collamer Lenses (ICLs), which are designed to treat common visual impairments such as nearsightedness (myopia), farsightedness (hyperopia), astigmatism, and presbyopia. STAAR Surgical also offers specific Hyperopic ICLs for far-sightedness, as well as preloaded silicone intraocular lenses and injector systems used in cataract surgery. Its offerings extend to injector parts and other related instruments and devices essential for these ophthalmic procedures.
STAAR Surgical primarily serves the ophthalmic market, with its products utilized by healthcare providers such as ophthalmic surgeons, vision and surgical centers, hospitals, and government facilities. Ophthalmologists are the key end-users of its technologies. The company markets its products globally, employing direct sales representatives in major markets like the United States, Japan, and parts of Europe, while utilizing a network of its own representatives and independent distributors for wider international reach in countries such as China, Korea, and India.
AI Analysis | Feedback
Here are a few brief analogies for STAAR Surgical (STAA):
- Medtronic for the eyes
- Intuitive Surgical for vision correction implants
AI Analysis | Feedback
- Visian Implantable Collamer Lens (ICL) Product Family: Implantable lenses designed to treat a range of visual disorders including myopia, hyperopia, astigmatism, and presbyopia.
- Hyperopic ICL: A specific implantable Collamer lens used to correct far-sightedness.
- Preloaded Silicone Cataract Intraocular Lenses: Lenses implanted during cataract surgery to replace the eye's natural clouded lens.
- Companion Delivery and Injector Systems: Instruments and devices used to safely deliver the various implantable lenses into the eye during surgical procedures.
AI Analysis | Feedback
Staar Surgical (STAA) sells primarily to other companies and organizations within the healthcare sector. Based on the provided background information, the company markets its products to the following categories of healthcare providers and intermediaries:
- Ophthalmic surgeons, and vision and surgical centers.
- Hospitals and government facilities.
- Distributors.
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Warren Foust
Interim Co-Chief Executive Officer, President and Chief Operating Officer
Mr. Foust was appointed interim co-Chief Executive Officer of STAAR Surgical, effective February 1, 2026. He joined the company in April 2023 as Chief Operating Officer and was promoted to President and Chief Operating Officer in March 2025. Before joining STAAR, Mr. Foust served as Worldwide President, Surgical for Johnson & Johnson Vision from December 2019 to April 2023, where he managed a global surgical business with approximately 5,000 employees. Prior to that, he was Worldwide President of Mentor, a Johnson & Johnson business unit, from 2018-2019, and Vice President, U.S. Sales and Marketing from 2015-2018. He also held various sales leadership roles at DePuy Synthes, another Johnson & Johnson company, and began his career at Roche Pharmaceuticals in 1999.
Deborah Andrews
Interim Co-Chief Executive Officer, Chief Financial Officer
Ms. Andrews was appointed interim co-Chief Executive Officer of STAAR Surgical, effective February 1, 2026, and also serves as Chief Financial Officer, a role she officially took on effective June 25, 2025. She rejoined STAAR in March 2025 as Interim CFO and had previously served as the company's CFO from 2007-2013 and again from 2017-2020. In her capacity as CFO, she oversees STAAR's finance, accounting, internal audit, information technology, and investor relations functions. Since April 2014, Ms. Andrews has been a member of the Board of Directors of Lineage Cell Therapeutics, a clinical-stage biotechnology company, where she currently chairs the Audit Committee and previously chaired the Compensation Committee.
Magda Michna, PhD
Chief Development Officer
Dr. Michna was promoted to Chief Development Officer in March 2025, an expanded role where she oversees STAAR's clinical, regulatory, medical affairs, quality, and research and development (R&D) functions. She joined STAAR Surgical in April 2023 as Chief Clinical, Regulatory and Medical Affairs Officer. Prior to STAAR, Dr. Michna served as Chief Global Clinical, Medical and Regulatory Affairs Officer of AcuFocus, Inc. from April 2018 until its acquisition by Bausch & Lomb in January 2023. She also served as Chief Clinical Officer at Presbia, PLC. From 2012 to 2017, Dr. Michna was responsible for leading clinical development for various premium intraocular lens and other surgical device technologies within the Alcon Surgical franchise.
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Key Risks to STAAR Surgical (STAA)
- Geographic Concentration and Economic Volatility in China: STAAR Surgical is highly dependent on the Chinese market, which has experienced significant economic headwinds, including inventory corrections and weakened consumer confidence. This overexposure to a single market poses a substantial risk, as downturns in China have directly impacted the company's sales and profitability.
- Intense Market Competition: The refractive surgery sector is highly competitive, with STAAR Surgical facing challenges from established vision correction methods such as LASIK and SMILE, as well as emerging domestic competitors, particularly in China. This competition can lead to price pressures, a reduction in market share, and limits on growth, especially given STAAR's primary reliance on its Implantable Collamer Lens (ICL) technology.
- Regulatory Hurdles and Product Approval: As a medical device manufacturer, STAAR Surgical is subject to extensive and evolving global government regulations. The company faces ongoing risks related to the discretion of regulatory agencies in approving or rejecting new or improved products, imposing new compliance costs, or delaying market access. Delays or failures in obtaining regulatory approvals for its ICL products can significantly hinder its ability to introduce new technologies and expand its market presence.
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STAAR Surgical Company (NASDAQ: STAA) primarily focuses on its Visian implantable Collamer lens (ICL) product family, which treats visual disorders such as myopia, hyperopia, astigmatism, and presbyopia. The company has largely shifted its focus away from preloaded silicone cataract intraocular lenses to concentrate on refractive lens exchange with ICLs.
Addressable Market Sizes:
- Implantable Collamer Lens (ICL) Market (Global): The global implantable collamer lens market was valued at approximately $19.53 billion in 2024. This market is projected to grow to $20.91 billion in 2025, with an anticipated compound annual growth rate (CAGR) of 7.10%, and is expected to reach $27.25 billion by 2029.
- Myopia and Presbyopia Treatment Market (Global): The broader global market for myopia and presbyopia treatment, which ICLs address, was valued at approximately $21.8 billion in 2025 and is estimated to reach $45.4 billion by 2033, growing at a CAGR of 9.7%. Another estimate places this market at $27.47 billion in 2025, expected to reach $35.24 billion by 2030, with a CAGR of 5.11%.
- U.S. Addressable Market for EVO/EVO+ Visian ICL: The U.S. age indication for EVO/EVO+ Visian ICL was expanded to 21–60 years, increasing the addressable market by nearly 8 million U.S. adults. Approximately 100 million people in the United States aged 21 to 45 who suffer from myopia may be candidates for EVO ICL. The immediate target market for surgical procedures is estimated at 5.2 million procedures in 2025, with a broader potential market including 2.7 billion people globally with myopia.
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Here are 3-5 expected drivers of future revenue growth for STAAR Surgical (STAA) over the next 2-3 years:
- Expanded Age Indication for EVO ICL in the U.S.: The U.S. Food and Drug Administration (FDA) has approved an expanded age indication for STAAR Surgical's EVO/EVO+ Visian Implantable Collamer Lenses (ICL), extending eligibility for patients from 21-45 years to 21-60 years old. This expansion could add nearly 8 million potential refractive patients to the market. This approval, supported by strong long-term safety data, is expected to drive higher procedure volumes and bolster surgeon confidence.
- Recovery and Growth in the China Market: China, STAAR Surgical's largest market, experienced a period of macroeconomic volatility and inventory adjustments in 2025. However, in-market EVO ICL demand showed recovery at mid-single-digit rates, and market conditions are anticipated to rebound in 2026, which is expected to significantly contribute to STAAR's growth.
- Launch and Scaling of New Products, including EVO+ in China: STAAR Surgical has launched EVO+ in China, marking its first new lens in the region in over a decade, with early demand proving encouraging. The company's development pipeline is also expected to offer additional advancements in lens-based refractive surgery, further expanding its addressable market.
- Global Market Penetration and International Expansion: STAAR Surgical is strategically focused on increasing patient awareness and adoption of ICL procedures as an alternative to LASIK and on strengthening partnerships with eye care professionals globally. Efforts are underway to expand into new markets, with regulatory approvals in Taiwan in 2025 and planned expansion in markets like Taiwan and Canada in 2026 and beyond. The global phakic intraocular lenses (IOLs) segment is projected to continue its significant market share expansion.
- Accelerated Shift Towards Lens-Based Vision Correction: There is an ongoing trend in refractive surgery where patients are increasingly opting for lens-based procedures, such as ICLs, over laser vision correction methods that involve corneal tissue removal. STAAR's EVO ICL continues to gain market share despite the broader struggles in the laser vision correction market, positioning the company for continued growth.
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Share Repurchases
- In May 2025, STAAR Surgical's Board of Directors authorized a share repurchase program of up to $30 million of its common stock.
- For the fiscal year ended January 2, 2026, the company repurchased approximately 376,000 shares for a total cost of approximately $6.5 million under the May 2025 program.
- As of January 2, 2026, approximately $23.5 million remained available under the existing share repurchase authorization.
Share Issuance
- Information regarding the dollar amount of shares issued by STAAR Surgical over the last 3-5 years is not available in the provided search results.
Inbound Investments
- Alcon proposed to acquire STAAR Surgical in a merger agreement, which would have seen STAAR stockholders receive $30.75 per share in cash, representing an approximate $1.6 billion valuation for the transaction. However, this merger agreement was terminated in January 2026 after STAAR shareholders failed to approve the transaction.
- Broadwood Partners purchased approximately $41 million worth of STAAR Surgical shares between November 19 and November 21, 2025, increasing their direct ownership in the company to over 15 million shares.
Outbound Investments
- STAAR Surgical has made no reported outbound investments or acquisitions of other companies within the last 3-5 years.
Capital Expenditures
- STAAR Surgical's historical capital expenditures were $15 million in 2024 and $13 million in 2023.
- Projected capital expenditures are $13 million for 2025, $14 million for 2026, and $15 million for 2027.
- The primary focus of capital expenditures includes research and development for new presbyopia-correcting phakic intraocular lenses, preloaded injector systems, next-generation ophthalmic medical devices and materials, and manufacturing optimization, including accelerating manufacturing expansion in Switzerland to mitigate tariff exposure and support the launch of EVO+ in China.
Peer Outperformance in Health Care Equipment
STAA has trailed 90% of its 49 Health Care Equipment peers over 5Y. Among the peers that beat it are ITGR, SYK and STE. Health Care Equipment ranks 5th of 10 industries in Health Care by median 5Y return.
Share of Health Care Equipment constituents that STAA has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
22%
of 55 industry peers · -23.6% return
3Y
20%
of 54 industry peers · -48.8% return
5Y
10%
of 49 industry peers · -85.1% return
Health Care Equipment peers with revenue growth within 4pp of STAA's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| STAA | Staar Surgical | 9.2% | 272.9x | -23.6% | -48.8% | -85.1% | — |
| ITGR | Integer | 8.4% | 33.4x | 22.2% | 58.1% | 43.8% | +129pp |
| SYK | Stryker | 9.9% | 28.3x | -26.2% | -2.0% | 8.0% | +93pp |
| STE | Steris | 9.8% | 24.9x | -16.7% | -6.1% | 1.3% | +86pp |
| BDX | Becton Dickinson | 7.1% | 52.8x | 26.1% | -8.4% | -0.5% | +85pp |
| LIVN | LivaNova | 10.7% | 22.7x | 41.8% | 36.6% | -3.6% | +82pp |
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Health Care sector, ranked by 5Y. Health Care Equipment is STAA's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care Distributors | 6 | 16.2% | 43.6% | 89.3% | CAH 387% · MCK 344% · COR 167% |
| Health Care Services | 20 | 21.1% | 38.6% | 1.2% | HIMS 248% · RDNT 176% · DGX 76% |
| Managed Health Care | 8 | 40.4% | -3.7% | 0.8% | OSCR 87% · HQY 54% · ELV 17% |
| Health Care Facilities | 24 | 6.0% | 4.6% | -9.2% | NHC 272% · THC 265% · ENSG 129% |
| Health Care Equipment ← | 50 | -2.7% | -3.3% | -20.5% | POCI 11050% · UFPT 344% · GKOS 216% |
| Pharmaceuticals | 62 | -10.5% | 14.7% | -38.8% | LQDA 2512% · INDV 1092% · ETON 1040% |
| Health Care Supplies | 12 | 14.1% | -11.1% | -40.0% | LNTH 290% · HAE 57% · MMSI 19% |
| Life Sciences Tools & Services | 109 | 4.3% | -12.6% | -67.5% | SNWV 1757% · MEDP 235% · NTRA 209% |
| Health Care Technology | 21 | -25.8% | -52.4% | -79.1% | SPOK 69% · HSTM 3% · VEEV -12% |
| Biotechnology | 364 | 0.6% | -21.4% | -79.3% | CELZ 1280% · DNTH 1217% · ELVN 1080% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Staar Surgical Stock Pre-Market (-8.8%): Reports Significant Q4 Earnings and Revenue Miss | 03/04/2026 | |
| Staar Surgical Earnings Notes | 12/16/2025 | |
| How Low Can Staar Surgical Stock Really Go? | 10/17/2025 | |
| Staar Surgical (STAA) Operating Income Comparison | 08/09/2025 | |
| Staar Surgical (STAA) Net Income Comparison | 08/09/2025 | |
| Staar Surgical (STAA) Operating Cash Flow Comparison | 08/09/2025 | |
| Staar Surgical (STAA) EBITDA Comparison | 08/09/2025 | |
| Staar Surgical (STAA) Debt Comparison | 08/09/2025 | |
| Staar Surgical (STAA) Revenue Comparison | 08/09/2025 | |
| Staar Surgical (STAA) Tax Expense Comparison | 08/09/2025 | |
| ARTICLES | ||
| Staar Surgical Stock Pre-Market (+20%): Q1 Sales More Than Double, Crushing Estimates | 04/09/2026 |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 38.05 |
| Mkt Cap | 6.0 |
| Rev LTM | 613 |
| Op Inc LTM | 41 |
| FCF LTM | -7 |
| FCF 3Y Avg | -28 |
| CFO LTM | -1 |
| CFO 3Y Avg | 2 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.9% |
| Rev Chg 3Y Avg | 10.9% |
| Rev Chg Q | 9.1% |
| QoQ Delta Rev Chg LTM | 2.2% |
| Op Inc Chg LTM | 21.4% |
| Op Inc Chg 3Y Avg | -1.1% |
| Op Mgn LTM | 7.6% |
| Op Mgn 3Y Avg | -5.5% |
| QoQ Delta Op Mgn LTM | 1.7% |
| CFO/Rev LTM | -0.2% |
| CFO/Rev 3Y Avg | -0.8% |
| FCF/Rev LTM | -2.0% |
| FCF/Rev 3Y Avg | -5.8% |
Price Behavior
Price Behavior
| Market Price | $20.82 | |
| Market Cap ($ Bil) | 1.0 | |
| First Trading Date | 03/02/1992 | |
| Distance from 52W High | -37.6% | |
| 50 Days | 200 Days | |
| DMA Price | $24.09 | $23.86 |
| DMA Trend | down | down |
| Distance from DMA | -13.6% | -12.8% |
| 3M | 1YR | |
| Volatility | 53.4% | 55.6% |
| Downside Capture | 169.81 | 68.96 |
| Upside Capture | -25.69 | 25.45 |
| Correlation (SPY) | 7.0% | 7.4% |
STAA Betas & Captures as of 8/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.99 | 0.67 | 0.39 | 0.52 | 0.39 | 0.84 |
| Up Beta | -0.41 | 0.61 | -0.17 | -0.37 | 0.52 | 0.81 |
| Down Beta | 8.14 | 0.63 | 0.17 | -0.10 | -0.17 | 0.51 |
| Up Capture | 27% | -14% | 2% | 109% | 27% | 56% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 10 | 19 | 26 | 66 | 118 | 353 |
| Down Capture | 243% | 190% | 138% | 105% | 80% | 106% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 11 | 23 | 37 | 60 | 129 | 391 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with STAA | |
|---|---|---|---|---|
| STAA | -23.4% | 55.4% | -0.29 | - |
| Sector ETF (XLV) | 24.4% | 16.1% | 1.16 | -1.1% |
| Equity (SPY) | 16.9% | 12.9% | 0.94 | 7.5% |
| Gold (GLD) | 19.1% | 29.3% | 0.60 | -5.4% |
| Commodities (DBC) | 46.3% | 20.6% | 1.73 | 5.5% |
| Real Estate (VNQ) | 4.9% | 13.6% | 0.10 | 1.4% |
| Bitcoin (BTCUSD) | -30.6% | 44.3% | -0.70 | 7.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with STAA | |
|---|---|---|---|---|
| STAA | -31.6% | 61.6% | -0.38 | - |
| Sector ETF (XLV) | 6.4% | 15.2% | 0.24 | 28.6% |
| Equity (SPY) | 12.9% | 17.2% | 0.57 | 36.5% |
| Gold (GLD) | 19.1% | 18.8% | 0.83 | 3.3% |
| Commodities (DBC) | 11.2% | 19.5% | 0.45 | 8.6% |
| Real Estate (VNQ) | 1.1% | 18.8% | -0.05 | 33.6% |
| Bitcoin (BTCUSD) | 12.5% | 52.5% | 0.42 | 20.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with STAA | |
|---|---|---|---|---|
| STAA | 9.4% | 58.2% | 0.39 | - |
| Sector ETF (XLV) | 10.6% | 16.7% | 0.51 | 32.3% |
| Equity (SPY) | 15.1% | 18.0% | 0.72 | 37.1% |
| Gold (GLD) | 12.1% | 16.4% | 0.61 | 3.6% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | 11.8% |
| Real Estate (VNQ) | 4.4% | 20.7% | 0.18 | 28.1% |
| Bitcoin (BTCUSD) | 62.6% | 66.2% | 1.02 | 10.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/14/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/12/2026 | -0.3% | -3.0% | -10.8% |
| 5/13/2026 | 8.9% | 12.4% | -3.5% |
| 3/3/2026 | 1.6% | -8.9% | 2.2% |
| 11/5/2025 | 5.5% | 2.4% | -6.8% |
| 8/6/2025 | 0.2% | 4.9% | 3.9% |
| 5/7/2025 | 0.5% | -10.3% | -8.1% |
| 2/11/2025 | -24.7% | -18.8% | -20.4% |
| 10/30/2024 | -1.7% | 4.6% | -1.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 9 | 9 |
| # Negative | 12 | 15 | 15 |
| Median Positive | 7.5% | 8.7% | 10.1% |
| Median Negative | -8.5% | -11.2% | -13.2% |
| Max Positive | 20.4% | 30.7% | 22.2% |
| Max Negative | -24.7% | -22.0% | -25.7% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/12/2026 | -0.3% | -3.0% | -10.8% |
| 5/13/2026 | 8.9% | 12.4% | -3.5% |
| 3/3/2026 | 1.6% | -8.9% | 2.2% |
| 11/5/2025 | 5.5% | 2.4% | -6.8% |
| 8/6/2025 | 0.2% | 4.9% | 3.9% |
| 5/7/2025 | 0.5% | -10.3% | -8.1% |
| 2/11/2025 | -24.7% | -18.8% | -20.4% |
| 10/30/2024 | -1.7% | 4.6% | -1.3% |
| 8/7/2024 | 11.0% | -3.4% | -14.4% |
| 5/7/2024 | -12.1% | -6.4% | -13.2% |
| 2/26/2024 | 2.9% | 8.7% | 13.4% |
| 1/8/2024 | 11.5% | 11.4% | 9.0% |
| 11/1/2023 | -16.9% | -22.0% | -23.8% |
| 8/2/2023 | -9.6% | -13.1% | -17.1% |
| 5/3/2023 | -7.8% | -3.5% | -17.7% |
| 2/21/2023 | -9.2% | -18.0% | -7.5% |
| 11/2/2022 | -15.3% | -17.9% | -10.3% |
| 8/10/2022 | 16.7% | 15.1% | 10.7% |
| 5/4/2022 | -3.1% | -21.3% | 2.3% |
| 2/23/2022 | 18.4% | 30.7% | 19.0% |
| 11/3/2021 | -2.7% | -7.0% | -25.7% |
| 8/4/2021 | 20.4% | 7.3% | 22.2% |
| 5/5/2021 | 6.2% | -11.2% | 10.1% |
| 2/24/2021 | -7.5% | -17.2% | -15.7% |
| SUMMARY STATS | |||
| # Positive | 12 | 9 | 9 |
| # Negative | 12 | 15 | 15 |
| Median Positive | 7.5% | 8.7% | 10.1% |
| Median Negative | -8.5% | -11.2% | -13.2% |
| Max Positive | 20.4% | 30.7% | 22.2% |
| Max Negative | -24.7% | -22.0% | -25.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/12/2026 | 10-Q |
| 03/31/2026 | 05/13/2026 | 10-Q |
| 12/31/2025 | 03/03/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/21/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 11/02/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/12/2026 | 10-Q |
| 03/31/2026 | 05/13/2026 | 10-Q |
| 12/31/2025 | 03/03/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/21/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 11/02/2022 | 10-Q |
| 06/30/2022 | 08/10/2022 | 10-Q |
| 03/31/2022 | 05/04/2022 | 10-Q |
| 12/31/2021 | 02/23/2022 | 10-K |
| 09/30/2021 | 11/03/2021 | 10-Q |
| 06/30/2021 | 08/04/2021 | 10-Q |
| 03/31/2021 | 05/05/2021 | 10-Q |
| 12/31/2020 | 02/24/2021 | 10-K |
| 09/30/2020 | 11/04/2020 | 10-Q |
| 06/30/2020 | 08/05/2020 | 10-Q |
| 03/31/2020 | 05/06/2020 | 10-Q |
| 12/31/2019 | 02/26/2020 | 10-K |
| 09/30/2019 | 10/30/2019 | 10-Q |
Recent Forward Guidance
Updated 9/15/2026Latest: Q2 2026 Earnings Reported 8/12/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Revenue Growth | Reported | |||||||
| Q4 2026 Revenue Growth | Reported | |||||||
Prior: Q1 2026 Earnings Reported 5/13/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Operating Margin | Reported | 10.0% | ||||||
Insider Activity
Updated 8/18/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Broadwood, Partners, LP | Direct | Buy | 3132026 | 18.61 | 316,017 | 5,882,656 | 300,145,319 | Form | |
| 2 | Broadwood, Partners, LP | Footnote | Buy | 3132026 | 0.00 | 0 | Form | |||
| 3 | Broadwood, Partners, LP | Direct | Buy | 3132026 | 18.12 | 299,432 | 5,424,330 | 286,365,073 | Form | |
| 4 | Broadwood, Partners, LP | Footnote | Buy | 3132026 | 0.00 | 0 | Form | |||
| 5 | Broadwood, Partners, LP | Direct | Buy | 3132026 | 17.52 | 54,764 | 959,558 | 271,733,410 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Broadwood, Partners, LP | Direct | Buy | 3132026 | 18.61 | 316,017 | 5,882,656 | 300,145,319 | Form | |
| 2 | Broadwood, Partners, LP | Footnote | Buy | 3132026 | 0.00 | 0 | Form | |||
| 3 | Broadwood, Partners, LP | Direct | Buy | 3132026 | 18.12 | 299,432 | 5,424,330 | 286,365,073 | Form | |
| 4 | Broadwood, Partners, LP | Footnote | Buy | 3132026 | 0.00 | 0 | Form | |||
| 5 | Broadwood, Partners, LP | Direct | Buy | 3132026 | 17.52 | 54,764 | 959,558 | 271,733,410 | Form | |
| 6 | Broadwood, Partners, LP | Footnote | Buy | 3132026 | 0.00 | 0 | Form | |||
| 7 | Broadwood, Partners, LP | Direct | Buy | 1132026 | 22.05 | 27,485 | 606,138 | 340,805,062 | Form | |
| 8 | Broadwood, Partners, LP | Footnote | Buy | 1132026 | 0.00 | 0 | Form | |||
| 9 | Broadwood, Partners, LP | Direct | Buy | 11212025 | 27.86 | 797,486 | 22,218,837 | 418,459,541 | Form | |
| 10 | Broadwood, Partners, LP | Footnote | Buy | 11212025 | 0.00 | 0 | Form | |||
| 11 | Broadwood, Partners, LP | Direct | Buy | 11212025 | 27.14 | 393,382 | 10,675,325 | 385,946,816 | Form | |
| 12 | Broadwood, Partners, LP | Footnote | Buy | 11212025 | 0.00 | 0 | Form | |||
| 13 | Broadwood, Partners, LP | Direct | Buy | 11212025 | 26.42 | 309,132 | 8,166,155 | 365,302,437 | Form | |
| 14 | Broadwood, Partners, LP | Footnote | Buy | 11212025 | 0.00 | 0 | Form |
Investor Activity (13F)
Updated Sep 20, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 9/19/2026