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Staar Surgical (STAA)

STAAR, which has been dedicated solely to ophthalmic surgery for over 30 years, designs, develops, manufactures and markets implantable lenses for the eye with companion delivery systems. These lenses are intended to provide visual freedom for patients, lessening or eliminating the reliance on glasses or contact lenses. All of these lenses are foldable, which permits the surgeon to insert them through a small incision. STAAR's lens used in refractive surgery is called an Implantable Collamer® Lens or 'ICL', which includes the EVO Visian ICL™ product line. More than 1,000,000 Visian® ICLs have been implanted to date and STAAR markets these lenses in over 75 countries. To learn more about the ICL go to: www.discovericl.com. Headquartered in Lake Forest, CA, the company operates manufacturing and packaging facilities in Aliso Viejo, CA, Monrovia, CA and Nidau, Switzerland.

Company profile

Ticker
STAA
Exchange
Website
CEO
Caren Mason
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
STAAR SURGICAL COMPANY
SEC CIK
Subsidiaries
STAAR Surgical UK LTD • STAAR Surgical AG • STAAR Japan Inc. • STAAR Surgical PTE. LTD • Technology (Shanghai) Co., LTD • CO., LTD • STAAR Surgical India Private Limited ...
IRS number
953797439

STAA stock data

Analyst ratings and price targets

Last 3 months

Calendar

10 Aug 22
20 Aug 22
30 Dec 22
Quarter (USD) Jul 22 Apr 22 Dec 21 Oct 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Jan 21 Jan 20 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
15 Aug 22 Holliday Keith Common Stock Sell Dispose S No No 106.22 5,000 531.1K 19,437
15 Aug 22 Holliday Keith Common Stock Sell Dispose S No No 106.32 11,582 1.23M 24,347
15 Aug 22 Holliday Keith Common Stock Option exercise Acquire M No No 35.98 9,388 337.78K 36,019
15 Aug 22 Holliday Keith Common Stock Option exercise Acquire M No No 29.8 1,499 44.67K 26,631
15 Aug 22 Holliday Keith Common Stock Option exercise Acquire M No No 16.15 695 11.22K 25,132
15 Aug 22 Holliday Keith Common Stock Options Common Stock Option exercise Dispose M No No 35.98 9,388 337.78K 0
15 Aug 22 Holliday Keith Common Stock Options Common Stock Option exercise Dispose M No No 29.8 1,499 44.67K 0
15 Aug 22 Holliday Keith Common Stock Options Common Stock Option exercise Dispose M No No 16.15 695 11.22K 0
16 Jun 22 Weisner Aimee S Common Stock Options Common Stock Option exercise Acquire M No No 62.1 5,765 358.01K 5,765
16 Jun 22 Farrell Stephen C Common Stock Option exercise Acquire M No No 0 355 0 6,567
13F holders Current Prev Q Change
Total holders 262 265 -1.1%
Opened positions 31 38 -18.4%
Closed positions 34 53 -35.8%
Increased positions 118 103 +14.6%
Reduced positions 75 87 -13.8%
13F shares Current Prev Q Change
Total value 3.26B 3.53B -7.7%
Total shares 54.55M 52.85M +3.2%
Total puts 194.8K 335.3K -41.9%
Total calls 486.2K 195.2K +149.1%
Total put/call ratio 0.4 1.7 -76.7%
Largest owners Shares Value Change
Broadwood Partners 8.59M $0 0.0%
Broadwood Capital 8.59M $609.43M 0.0%
BLK Blackrock 5.69M $403.3M +0.6%
Baillie Gifford & Co 5.29M $374.89M +0.7%
Vanguard 5.16M $366.2M +1.4%
STT State Street 1.56M $110.45M -0.8%
Palo Alto Investors 1.11M $78.49M -2.7%
Geneva Capital Management 908.8K $64.46M -0.1%
Geode Capital Management 851.7K $60.41M -0.0%
E Fund Management 732.3K $51.94M +453.5%
Largest transactions Shares Bought/sold Change
E Fund Management 732.3K +600K +453.5%
Artisan Partners Limited Partnership 566.25K +272.91K +93.0%
Kayne Anderson Rudnick Investment Management 611.12K +204.26K +50.2%
Next Century Growth Investors 454.31K +200.19K +78.8%
GS Goldman Sachs 333.23K +194.89K +140.9%
Kames Capital 118.51K -153.61K -56.5%
Two Sigma Investments 22.73K -142.55K -86.2%
PFG Principal Financial Group Inc - Registered Shares 548.2K +142.39K +35.1%
Renaissance Technologies 14.5K -125.5K -89.6%
Clearbridge Advisors 518.54K +113.85K +28.1%

Financial report summary

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Risks
  • We may not be able to continue our growth and profitability trajectory.
  • Compliance issues may adversely impact our operations.
  • Unfavorable economic conditions or negative publicity concerning complications of laser eye surgery, or medical devices in general, could hurt sales of our refractive products.
  • Disruptions in our supply chain or failure to adequately forecast product demand could result in significant delays or lost sales.
  • We may not be able to fully use our recorded tax loss carryforwards.
  • We are vulnerable to any loss of use of our principal manufacturing facility.
  • We depend on key employees.
  • We compete with much larger companies and low-cost Asian manufacturers.
  • Our defined benefit pension plans are currently underfunded and we may be subject to significant increases in pension benefit obligations under those pension plans.
  • Our activities involve hazardous materials, emissions, and use of an irradiator and may subject us to environmental liability.
  • Data corruption, cyber-based attacks or network security breaches and/or noncompliance with data protection and privacy regulations could negatively impact our operations.
  • The increased use of social media platforms and mobile technologies presents additional risks and challenges.
  • If we are not able to manage growth successfully, this could adversely affect our business, financial condition, and results of operations.
  • Corporate responsibility, specifically related to environmental, social and governance (“ESG”) matters, may impose additional costs, expose us to reputational and emerging areas of risks, and could negatively affect our business.
  • Climate changes could negatively affect our business.
  • Unless we keep pace with advances in our industry and persuade physicians to adopt our new products, our sales will not grow and may decline.
  • Resources devoted to research and development may not yield new products that achieve regulatory approval or commercial success.
  • We may be required to conduct extensive clinical trials to demonstrate safety and efficacy of new or enhanced products, such clinical trials are expensive, complex, can take years to complete, and have highly uncertain outcomes.
  • We are subject to extensive government regulation worldwide, which increases our costs and could prevent us from selling our products.
  • We depend on proprietary technology but our intellectual property protections may be limited.
  • We may not successfully replace our existing products, including those that lose or have lost patent protection.
  • While we will continue developing intellectual property protections for our future products, third parties may pursue blocking patents that limit our ability to manufacture such products.
  • If we recall a product, the cost and damage to our reputation could harm our business.
  • Changes in FDA or international regulations related to product approval, including those that apply retroactively, could make us less competitive and harm our business.
  • If we modify our products, we may have to obtain new marketing clearances or approvals, or may have to cease marketing or recall the modified products until clearances or approvals are obtained.
  • Investigations and allegations, whether or not they lead to enforcement action or litigation, can materially harm our business and our reputation.
  • Because we do not intend to pay dividends, stockholders will benefit from an investment in our common stock only if it appreciates in value.
  • Future sales of our common stock could reduce our stock price.
Management Discussion
  • Net sales for the three months ended July 1, 2022 increased 30% from the same period of 2021.  The increase in net sales was due to increased ICL sales of $18.7 million.  Changes in foreign currency unfavorably impacted net sales by $3.1 million.
  • Net sales for the six months ended July 1, 2022 increased 28% from same period of 2021.  The increase in net sales was due to increased ICL sales of $30.9 million.  Changes in foreign currency unfavorably impacted net sales by $5.0 million.
  • Total ICL sales for the three months ended July 1, 2022 increased 32% from the same period of 2021, with unit increase of 42%. The APAC region sales increased by 37%, with unit growth up 45%, due to sales growth in India up 192%, other APAC regions up 65%, China up 39%, Japan up 16% and Korea up 16%. The Europe, Middle East, Africa and Latin America region sales increased 6% with unit increase of 30%, due to sales growth in in distributor markets up 24%, partially offset by sales decreases in our direct markets down 7%.  The North America region sales increased 42%, with unit increase of 32%, primarily to sales growth in the U.S. up 47%.  In late March 2022, the U.S. started to sell EVO ICLs. Changes in foreign currency unfavorably impacted ICL sales by $2.6 million for the three months ended July 1, 2022, which impacted our Europe, Middle East, Africa and Japan markets.  ICL sales represented 96.1% and 95.0% of our total sales for the three months ended July 1, 2022 and July 2, 2021, respectively.

Content analysis

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New words: ambassador, discontinuance, distance, earlier, Joe, journey, launch, level, media, month, older, Pacific, partnership, slightly, stronger
Removed: April, Canada, employer, extended, FDA, Germany, interactive, issued, Kingdom, projected, release, remain, Spain, trial