STAAR Surgical

STAA · NASDAQ

$22.32+$0.44 (+2.01%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $21.88

STAA analyst rating

HoldConsensus of 8 analysts over the last 12 months. 50% rate it a buy.

Strong buy0
Buy4
Hold3
Underperform0
Sell1

12-month price target · 12 analysts

Average $28.25 (+26.6% upside)

Low: $19.19
Now: $22.32
High: $38.85

Upgrades and downgrades

The latest rating actions, newest first

STAA analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Stifel	Sep 29, 2026	Upgrade	Hold → Buy	$28.00 → $31.00	33%
Jefferies	Sep 22, 2026	Maintains	Buy	$28.00 → $23.00	43%
Stifel	Aug 17, 2026	Maintains	Hold	$31.00 → $28.00	33%
UBS	Aug 13, 2026	Maintains	Sell	$20.00 → $19.00	43%
Jefferies	Aug 13, 2026	Maintains	Buy	$29.00 → $28.00	43%
Wedbush	Aug 13, 2026	Maintains	Outperform	$40.00 → $37.00	35%
Wedbush	Aug 4, 2026	Maintains	Outperform	$40.00	35%
UBS	Jul 28, 2026	Initiates	Sell	$20.00	43%
Wedbush	Jul 22, 2026	Maintains	Outperform	$40.00	35%
Wedbush	Jul 16, 2026	Maintains	Outperform	$40.00	35%

The case for and against

Updated Oct 15, 2026

Bull case

Staar Surgical is supported by a clear inflection in both growth and profitability, as 2Q’26 net sales reached a record $93.5M, up 111% year over year, while adj. EBITDA rose to $20.0M with a 21.4% margin and cash and investments increased to $181.5M. The strongest fundamental driver remains China, where revenue of $52.3M grew over 100% YoY and 10% sequentially on continued EVO+ adoption, no evidence of distributor inventory build, and demand outpacing production capacity, while ex-China sales still grew 6% despite near-term shipment timing pressure. Confidence is further strengthened by the removal of the leadership overhang with Warren Foust named permanent CEO, expanding gross margin to 74.5%, and management’s indication that ERP costs should ease beginning in 4Q’26, supporting further margin expansion and long-term operating leverage.

Bear case

Staar Surgical is facing a demand deceleration in its key ICL franchise, with one China-based ophthalmologist describing growth slowing from 10%-20% annually during 2016-2019 to just 3%-5% in 2023-2025, well below the pre-COVID trend. The underlying issue appears to be affordability rather than product quality, as household pressure in a soft China macro backdrop is steering price-sensitive patients toward LASIK and SMILE despite ICL’s superior post-surgical vision and lower side-effect profile. Because ICL accounts for roughly 40% of more than 1,200 annual refractive procedures at that institution and remains the company’s dominant revenue driver, persistent pricing pressure in foreign markets is a fundamental risk to growth and earnings power.

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