Company Overview - STAAR Surgical Company designs, develops, manufactures, and sells implantable lenses for the eye, addressing various visual disorders through innovative lens products and delivery systems [6][9] - The company operates globally from its base in Lake Forest, California, serving a diversified international customer base including ophthalmic surgeons, surgical centers, hospitals, and distributors [6][9] - As of the latest report, STAAR's market capitalization is $1.30 billion, with a revenue of $230.6 million and a net income of -$96.4 million over the trailing twelve months (TTM) [4] Recent Developments - Palo Alto Investors fully exited its position in STAAR Surgical during the third quarter, selling 791,879 shares for an estimated reduction in position value of $13.3 million, which previously represented 2.8% of the fund's assets under management [1][2] - The exit from STAAR Surgical by Palo Alto Investors signals rising uncertainty regarding the company's future, particularly in light of operational volatility and the complexities surrounding its pending acquisition by Alcon [10][11] - Despite STAAR's improving fundamentals, including a 6.9% year-over-year revenue growth and an expanded gross margin of 82.2%, net income decreased to $8.9 million due to higher taxes [10] Market Performance - As of the latest data, shares of STAAR Surgical are priced at $26.25, reflecting a 1% decline over the past year, significantly underperforming the S&P 500, which has increased by 13% during the same period [3]