Staar Surgical Slides 12% After Q2 Sales Miss Estimates
STAA sits 64% above its 52-week low of $15.585.
Summary
Staar Surgical pre-announced Q2 net sales of $90 million, just below the $90.2 million consensus, and shares fell 12% after hours. The miss is narrow, but the market is punishing the shortfall after a strong run-up. Sales more than doubled from $44.3 million a year ago, driven by China and Asia-Pacific, while EMEA declined slightly due to Middle East turmoil. Management flagged that geopolitical headwinds could persist. Full results are due August 12.
At the time of this announcement, STAA was trading at $25.59 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.4B. The 52-week trading range was $15.59 to $35.87. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.