STAAR Surgical gains after reaffirming sales forecast
Olemedia/E+ via Getty Images
- STAAR Surgical (NASDAQ:STAA) traded higher on Tuesday morning after the maker of implantable eye lenses reiterated its sales outlook for Q1 and the full year 2023 ahead of investor presentations.
- Issuing a regulatory filing on Tuesday, the Lake Forest, California-based company indicated $65M – $67M sales from its Implantable Collamer Lens (ICL) products with ~11% – $14% YoY growth.
- STAAR (STAA) projects $340M net sales from ICL products in 2023, indicating ~26% YoY growth and including a $30M contribution from U.S. sales.
- The company also expects its gross margin and operating margin to reach ~80% and 12% in 2023, up from ~79% and ~15% in 2022, respectively.
- Seeking Alpha contributor, InvestOhTrader issued a Buy rating on STAAR (STAA) in February, highlighting its growing margin profile despite a challenging operating backdrop. "With its improving profitability and stable balance sheet, STAAR Surgical Company is a good 'buy on fear' candidate," the author wrote.