Story
STAAR Surgical Announces $50 Million Share Repurchase Program
Summary
The medical device maker's board authorized the buyback, citing confidence in its financial strength and free cash flow generation, which sent shares higher in after-hours trading.
STAAR Surgical Company (NASDAQ: STAA) announced its Board of Directors has authorized a new share repurchase program for up to $50 million of its common stock. The news prompted a positive investor reaction, with the company's shares rising as much as 2% in after-hours trading on Thursday.
Program Details
The authorization permits STAAR Surgical to buy back shares over the next twelve months. The company stated it plans to fund the repurchases using its organic free cash flow and existing cash on hand.
Repurchases can be made through various methods, including:
- Open market transactions
- Privately negotiated deals
- Structured repurchase agreements
- Rule 10b5-1 trading plans
AdThe company noted that the program does not obligate it to acquire any specific number of shares and may be modified or suspended at any time. The timing and amount of any repurchases will be subject to market conditions and other factors.
Financial Position and Rationale
This move signals management's confidence in the company's financial health and future prospects. According to the announcement, the buyback aligns with a capital allocation strategy that balances internal investments with returning capital to shareholders.
STAAR Surgical reported a strong balance sheet with $181.5 million in cash, cash equivalents, and available-for-sale investments as of July 3, 2026, and no outstanding debt. The company had approximately 50.1 million shares outstanding as of August 7, 2026.
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