Staar Surgical price target lowered to $39 from $49 at BTIG

BTIG lowered the firm’s price target on Staar Surgical (STAA) to $39 from $49 and keeps a Buy rating on the shares as part of a broader research note updating the firm’s models on Medical Technology names reflecting management commentary, product launch momentum, competitive updates, and macroeconomic factors. For Staar, BTIG has lowered its ICL – Implantable Collamer Lens – growth expectations in FY25 and beyond amid continued macroeconomic weakness in China, assuming a similar high single digit volume growth rate carrying forward in FY25 with some modest price gains of 1%-2% on top of volume growth, the analyst tells investors in a research note. This is down from mid-teens volume growth that were previously assumed under Staar’s prior long-term targets laid out at its Analyst Day, BTIG adds.