- Staar Surgical manufactures and markets implantable collamer lenses for myopia or presbyopia.
- The company's shares have performed impressively in recent months - reaching highs of $127 - but have fallen to $104 during the recent bear market.
- Based on DCF analysis, Staar looks overvalued. Revenues in FY20 were up 9% yoy, to $164m, but growth needs to exceed 35% per annum to justify the current market cap.
- The likely US approval of its EVO/EVO+ VISIAN range in the US in 2021 provides a significant near-term catalyst and the company's TAM is very large.
- Staar's share price ought to grow long term, but may continue to correct short term, presenting a buy opportunity in a range of $80-$90.
For further details see:
Staar Surgical: Recent Bull Run Is Over, But Buying The Dip Advisable