STAA - STAAR Surgical Stock: I Don't See A Great Path Forward Despite The Recent Surge
2024-04-05 09:00:19 ET
Summary
- STAAR Surgical stock surged by 16.5% after reporting higher than expected preliminary sales for Q1 of fiscal year 2024.
- The company's ICL offering in the US and other regions showed positive growth, but profitability and cash flows have been declining.
- STAA stock remains expensive compared to similar firms, leading to a 'sell' rating.
STAAR Surgical overview
April 4th ended up being a really fantastic day for shareholders of STAAR Surgical Company ( STAA ). For those not aware, the company focuses on the production of implantable lenses for the eye, as well as delivery systems that are used to put those lenses in place. It makes other products as well, such as intraocular lenses and silicone lens based preloaded injectors. This is an interesting business operating in an interesting space. And those who own shares just got a nice bump higher. That's because, after announcing preliminary sales for the first quarter of the 2024 fiscal year, the stock shot up, closing higher by 16.5%....
STAAR Surgical Stock: I Don't See A Great Path Forward, Despite The Recent Surge