Benchmark Comments on STAAR Surgical (STAA) Following a Number of Meeting with Management
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Price: $23.07 -6.45%
Rating Summary:
4 Buy, 11 Hold, 2 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
4 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Benchmark is reiterating its Buy rating and $10 price target on shares of STAAR Surgical (NASDAQ: STAA) following hosting meeting with the CEO across the country.
The main topic at the conferences was the company's strong leverage on the international ICL business. ICL lenses, as an alternative to LASIK, expanded revenue 41 percent in Q2 to 51 percent of Company sales.
The company announced that plans to launch its version 4c ICL lens under CE Mark in September.
STAAR plans to unveil a global manufacturing consolidation plan on September 22. The plan is predicted to save the company at minimum $100 million by approximately 2020.
Shinagowa institute forecasts that it could transition 30 percent of its volume to the premium ICL solution, its total enterprise profit could expand by 40 percent.
An analyst at Benchmark comments, "We anticipate this opportunity will take STAAR several years to fully penetrate but for perspective, we estimate Shinagowa could represent up to $1.00 in EPS within three to five years."
Currently, the firm anticipates $64.2 million in revenue and EPS of $0.10 in 2011 and $75 million in revenue and EPS of $0.24 in 2012.
Management indicated that it is working on a version 6 ICL that has the potential to correct myopia and presbyopia. The firm believes that it the technology can be obtained, then such a lens might have the opportunity to displace the majority of LASIK procedures.
For more ratings news on STAAR Surgical click here and for the rating history of STAAR Surgical click here.
Shares of STAAR Surgical closed at $7.78 yesterday.
The main topic at the conferences was the company's strong leverage on the international ICL business. ICL lenses, as an alternative to LASIK, expanded revenue 41 percent in Q2 to 51 percent of Company sales.
The company announced that plans to launch its version 4c ICL lens under CE Mark in September.
STAAR plans to unveil a global manufacturing consolidation plan on September 22. The plan is predicted to save the company at minimum $100 million by approximately 2020.
Shinagowa institute forecasts that it could transition 30 percent of its volume to the premium ICL solution, its total enterprise profit could expand by 40 percent.
An analyst at Benchmark comments, "We anticipate this opportunity will take STAAR several years to fully penetrate but for perspective, we estimate Shinagowa could represent up to $1.00 in EPS within three to five years."
Currently, the firm anticipates $64.2 million in revenue and EPS of $0.10 in 2011 and $75 million in revenue and EPS of $0.24 in 2012.
Management indicated that it is working on a version 6 ICL that has the potential to correct myopia and presbyopia. The firm believes that it the technology can be obtained, then such a lens might have the opportunity to displace the majority of LASIK procedures.
For more ratings news on STAAR Surgical click here and for the rating history of STAAR Surgical click here.
Shares of STAAR Surgical closed at $7.78 yesterday.
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