Slotnik Capital Acquires 635,000 Shares of STAAR Surgical for $17.06 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
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Source: NASDAQ.COM
- New Investment Position: Slotnik Capital initiated a new position in STAAR Surgical by acquiring 635,000 shares valued at approximately $17.06 million during Q3, representing 5.33% of the fund's reportable U.S. equity holdings, although this stake remains outside the fund's top five positions, indicating confidence in the company's future potential.
- Strong Financial Performance: STAAR Surgical reported net sales of $94.7 million in its latest earnings report, reflecting a nearly 7% year-over-year increase, while gross margins surged to 82.2%, demonstrating effective management of costs and market demand, thereby enhancing its competitive position in the ophthalmic surgery market.
- Robust Cash Flow: As of the end of the quarter, STAAR Surgical held approximately $193 million in cash and investments with no debt, allowing for flexibility in navigating demand fluctuations in Asia while continuing stock buybacks, which bolsters investor confidence.
- Clear Market Positioning: As a specialized medical device manufacturer focused on advanced implantable lenses, STAAR maintains a direct sales approach to engage with eye care professionals and continues to innovate to address unmet needs in the refractive and cataract surgery markets, ensuring its leadership in the industry.
STAA
$23.21+Infinity%1D
Analyst Views on STAA
Wall Street analysts forecast STAA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for STAA is 28.00 USD with a low forecast of 28.00 USD and a high forecast of 28.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
0 Buy
3 Hold
0 Sell
Hold
Current: 23.380
Low
28.00
Averages
28.00
High
28.00
Current: 23.380
Low
28.00
Averages
28.00
High
28.00
About STAA
STAAR Surgical Company designs, develops, manufactures, and sells implantable lenses for the eye and accessory delivery systems used to deliver the lenses into the eye. The Company markets and sells its ICLs for refractive surgery to treat myopia (nearsightedness) as its EVO family of lenses. Its EVO family of lenses includes its EVO ICL, EVO+ ICL, and EVO Visian ICL. The Company's newest offering, EVO Viva, has an extended depth of focus (EDoF) optic, which is designed to treat myopia with presbyopia (age-related loss of ability to focus). It also market and sell an ICL lens to treat hyperopia (farsightedness), called Visian ICL. It makes its ICL product offerings available in multiple models, powers and lengths, including some with toric ICL (TICL) versions to correct for astigmatism (blurred vision). The Company’s principal products are ICLs used in refractive surgery, including its EVO family of lenses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
