STAAR Surgical is growing 111% YoY with elite cash conversion and a wide moat, but it depends on a single product sold 91% outside the US, and the $24.07 analyst target is only 6.5% above the $22.61 price.
Thesis pillars
- Hyper Revenue Growth→Stable
- Elite Cash Conversion Moat→Stable
- Single Product Concentration↓Deteriorating
- +2 more pillars — see the Why tab for full reasoning
Pillars as of Oct 24, 2026, based on the 10-K filed Mar 3, 2026
STAAR Surgical Company (STAA) Stock Analysis
Momentum Cont setup
Healthcare · Medical Instruments & Supplies
Hold if already holding. Not a fresh buy at $24.61, but acceptable to hold if already in. Reasons: Concentration risk — Geographic: outside the United States (91.0%); Concentration risk — Product: ICLs (100.0%).
STAAR Surgical designs, manufactures, and sells Implantable Collamer Lenses (ICLs) — a proprietary lens-based alternative to LASIK for correcting myopia, hyperopia, astigmatism, and presbyopia — marketed under the EVO and Visian brands in more than 85 countries. ICLs accounted... Read more
Hold if already holding. Not a fresh buy at $24.61, but acceptable to hold if already in. Reasons: Concentration risk — Geographic: outside the United States (91.0%); Concentration risk — Product: ICLs (100.0%). Chart setup: Trend continuation, RSI 64, MACD bullish. Maintain position. Not compelling to add more. Score 6.7/10, moderate confidence.
Passes 5/9 gates (positive momentum, clean insider activity, news events none recent, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio and earnings proximity 6d<=7d. Suitability: aggressive.
About STAAR Surgical Company
About STAAR Surgical Company
STAAR Surgical generated $239.4 million in net sales for fiscal 2025, a 23.7 percent decline from $313.9 million in fiscal 2024, with Implantable Collamer Lenses (ICLs) accounting for approximately 100 percent of total sales. The company's EVO ICL is the only posterior chamber phakic intraocular lens approved by the FDA for sale in the U.S., and STAAR has sold more than 4,000,000 ICLs worldwide since 1997. Activities outside the United States generated 91 percent of 2025 sales, with China distributors alone contributing 32 percent.
STAAR sells directly through its own sales force in Japan, the U.S., Germany, Spain, Singapore, Canada, and the U.K., and through independent distributors — including exclusive China distributors — elsewhere across more than 85 countries. ICLs are manufactured primarily at STAAR's Monrovia, California facility, with production capacity expanding at a second site in Nidau, Switzerland to provide tariff and disruption optionality; some raw materials are single-sourced due to regulatory, cost, and vendor-reliability constraints. STAAR's ICL technology competes primarily against laser-based refractive procedures marketed by Alcon, Johnson & Johnson, Bausch Health, and Carl Zeiss Meditec, and secondarily against other phakic implantable lenses from Biotech Vision Care, Care Group, Eyebright, and Ophtec.
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STAAR's China exposure carries both a demand-cycle and a regulatory-pathway dimension: China distributors accounted for 32 percent of fiscal 2025 net sales, down from 51.7 percent in fiscal 2024 after distributors worked through elevated inventory built up ahead of an anticipated 2024 high season that underperformed. Layered on top, China's evolving medical device regulations — including volume-based procurement programs that can compress device pricing — and the dueling tariff actions announced in early 2025 pushed STAAR to negotiate consignment inventory arrangements and accelerate Swiss manufacturing capacity as an alternative to further U.S.-China trade escalation.
See also: Healthcare · Medical Instruments & Supplies
From STAAR Surgical Company's most recent 10-K filing, extracted July 6, 2026.
Recent developments
updated 2026-10-29Recent Developments — STAAR Surgical Company
Latest news
- NEWS Why Staar Surgical Zoomed Almost 8% Higher on Tuesday - The Motley Fool — The Motley Fool positive
- NEWS Why Staar Surgical Zoomed Almost 8% Higher on Tuesday - fool.com — fool.com positive
- NEWS STAA Q2 2026 Earnings: Narrow EPS Miss Met With Modest Stock Gain - Special Dividend Alert - dars.gov.et — dars.gov.et negative
- NEWS STAA Q2 2026 Earnings: Narrow EPS Miss Met With Modest Stock Gain - Revenue Warning Signal - dars.gov.et — dars.gov.et negative
- NEWS STAA Q1 2026 Earnings: EPS Surges 453.85% Above Estimates, Signaling Strong Operational Turnaround - Post-Announcement R — dars.gov.et positive
Generated 2026-10-29T11:08:52Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHGeographicoutside the United States91%10-K Item 1A: 'Activities outside the U.S. accounted for approximately 91% of our total sales during 2025.'
- MEDIUMCustomerChina distributors32%10-K Item 1: 'Two customers, our China distributors who sell into China and Hong Kong, accounted for approximately 32% of our consolidated net sales during fiscal 2025.'
- HIGHProductICLs100%10-K Item 1: 'Sales of ICLs accounted for approximately 100% of our total sales in fiscal 2025'
- HIGHSuppliersingle-sourced raw materials10-K Item 1: 'Some of our raw materials are single-sourced due to regulatory constraints, cost effectiveness, availability, quality, and vendor reliability issues.'
Material Events(8-K, last 90d)
- 2026-06-22Item 5.02LOWShareholders approved Amendment No. 2 to the Omnibus Equity Incentive Plan at the 2026 Annual Meeting, increasing reserved shares by 3,900,000; a routine equity-plan action, not a departure.SEC filing →
- 2026-06-09Item 5.02LOWCompensation Committee raised Interim Co-CEO and CFO Deborah Andrews' base salary from $512,000 to $575,000 and target bonus from 55% to 60% of base, effective June 8, 2026; a routine compensation adjustment, not a departure.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
1 floor-breaker·1 ceiling hit
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $24.61, but acceptable to hold if already in. Reasons: Concentration risk — Geographic: outside the United States (91.0%); Concentration risk — Product: ICLs (100.0%). Chart setup: Trend continuation, RSI 64, MACD bullish. Maintain position. Not compelling to add more. Analyst target $24.07 reached (−2.2%), stop $22.89 (−7.5%), A.R:R -0.1:1. Score 6.7/10, moderate confidence.
Analyst target $24.07 reached (−2.2% from $24.61); no take-profit level is published. Analyst target $24.07 reached (−2.2%), stop $22.89 (−7.5%), A.R:R -0.1:1. Stop-loss: $22.89.
Concentration risk — Geographic: outside the United States (91.0%); Concentration risk — Product: ICLs (100.0%); Analyst target reached - limited upside remaining.
STAAR Surgical Company trades at a P/E of 307.6 (forward 22.1). TrendMatrix value score: 5.5/10. Verdict: Hold.
18 analysts cover STAA with a consensus score of 3.7/5. Average price target: $28.
What does STAAR Surgical Company do?STAAR Surgical designs, manufactures, and sells Implantable Collamer Lenses (ICLs) — a proprietary lens-based...
STAAR Surgical designs, manufactures, and sells Implantable Collamer Lenses (ICLs) — a proprietary lens-based alternative to LASIK for correcting myopia, hyperopia, astigmatism, and presbyopia — marketed under the EVO and Visian brands in more than 85 countries. ICLs accounted for approximately 100% of fiscal 2025 net sales of $239.4 million, with 91% of sales generated outside the United States and China distributors alone contributing 32%. STAAR's proprietary Collamer biomaterial is exclusive to the company.