Staar Surgical downgraded to Neutral from Buy at BTIG

BTIG analyst Ryan Zimmerman downgraded Staar Surgical to Neutral from Buy without a price target. The analyst says the company is "wed to China and investors are subsequently wed to the undulations of the Chinese economy." Implied in Staar’s fiscal 2023 revenue guidance of $340M are meaningful step-ups in productivity in the company’s physician base the analyst tells investors in a research note. The firm believes these increases are likely to prove challenging and says Staar would have to increase market penetration by hundreds, if not a thousand, basis points to meet its outlook.