Canaccord Genuity Reiterates a 'Buy' on STAAR Surgical (STAA); Mixed Q1
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Price: $23.07 -6.45%
Rating Summary:
4 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
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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Canaccord Genuity reiterates a 'Buy' on STAAR Surgical (NASDAQ: STAA) price target lowered to $14.00.
Analyst, Jason R. Mills, said, "Q1 was mixed, with disappointing top-line performance ($15.5M vs. our $16.7M est.) but a higher-than-expected GM (70.3% vs. our 69.2%E). ICL uptake in Asia Pacific was strong, with weak growth (~2%) in the EMEA region, reflecting a strong year-ago comp and a couple of delayed orders. IOL sales were down 11% Y/Y but had an improving GM...We’ve lowered our 2012 revenue estimate modestly to $72.0M from $72.5M but are maintaining our EPS estimate of $0.11....We maintain our rating primarily owing to our bullishness about the ICL growth opportunity we envision long term, as we see ICL becoming an increasingly attractive option to LASIK worldwide."
For an analyst ratings summary and ratings history on STAAR Surgical click here. For more ratings news on STAAR Surgical click here.
Shares of STAAR Surgical closed at $11.17 yesterday.
Analyst, Jason R. Mills, said, "Q1 was mixed, with disappointing top-line performance ($15.5M vs. our $16.7M est.) but a higher-than-expected GM (70.3% vs. our 69.2%E). ICL uptake in Asia Pacific was strong, with weak growth (~2%) in the EMEA region, reflecting a strong year-ago comp and a couple of delayed orders. IOL sales were down 11% Y/Y but had an improving GM...We’ve lowered our 2012 revenue estimate modestly to $72.0M from $72.5M but are maintaining our EPS estimate of $0.11....We maintain our rating primarily owing to our bullishness about the ICL growth opportunity we envision long term, as we see ICL becoming an increasingly attractive option to LASIK worldwide."
For an analyst ratings summary and ratings history on STAAR Surgical click here. For more ratings news on STAAR Surgical click here.
Shares of STAAR Surgical closed at $11.17 yesterday.
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