Story
STAAR Surgical Stock Climbs After Announcing $50 Million Share Buyback
Summary
Shares of the medical device company gained 2.0% in after-hours trading after its Board of Directors authorized a new plan to repurchase up to $50 million of its common stock.
STAAR Surgical (NASDAQ: STAA) shares rose in after-hours trading after its Board of Directors authorized a new share repurchase program of up to $50 million. The announcement, made shortly after the market close, provides a company-specific catalyst for the stock.
The Repurchase Program
The board-approved plan allows the company to buy back its outstanding common stock over a twelve-month period. STAAR Surgical stated the repurchases may be conducted through several methods, including:
- Open market transactions
- Privately negotiated deals
- Structured repurchase agreements
- Rule 10b5-1 trading plans
The timing and volume of any repurchases will be determined by management based on market conditions and other factors. The company plans to fund the buyback with its cash on hand and free cash flow.
Financial Context
AdThe authorization is supported by a strong balance sheet. According to the announcement, STAAR Surgical held no outstanding debt and had $181.5 million in cash, cash equivalents, and investments as of July 3, 2026. The company reported approximately 50.1 million shares of common stock outstanding as of August 7, 2026.
Market Reaction
Following the news, STAAR's stock climbed 2.0% in after-hours trading. The gain came despite a negative backdrop in the broader market, where the S&P 500 fell 0.2% during the regular session.
The positive investor response to the buyback, often seen as a sign of management's confidence in a company's valuation, also helped offset a recent price target reduction from Jefferies. The firm had trimmed its price target on STAA to $23 from $28 a day earlier.
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