$0.02 Earnings Per Share Expected for STAAR Surgical Company (STAA) This Quarter
Wall Street analysts forecast that STAAR Surgical Company (NASDAQ:STAA) will announce earnings of $0.02 per share for the current quarter, according to Zacks. Zero analysts have made estimates for STAAR Surgical’s earnings. STAAR Surgical posted earnings of ($0.02) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 200%. The firm is expected to announce its next earnings report on Thursday, November 2nd.
On average, analysts expect that STAAR Surgical will report full-year earnings of ($0.03) per share for the current fiscal year, with EPS estimates ranging from ($0.06) to $0.00. For the next financial year, analysts expect that the company will report earnings of $0.17 per share, with EPS estimates ranging from $0.15 to $0.19. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for STAAR Surgical.
STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings results on Wednesday, August 2nd. The medical instruments supplier reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.04. STAAR Surgical had a negative net margin of 6.06% and a negative return on equity of 8.69%. The company had revenue of $21.90 million for the quarter, compared to the consensus estimate of $22.15 million. During the same quarter in the prior year, the company earned ($0.02) EPS. STAAR Surgical’s quarterly revenue was up 4.8% on a year-over-year basis.
Several research analysts have commented on STAA shares. Benchmark Co. lifted their price target on STAAR Surgical from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. Canaccord Genuity reaffirmed a “buy” rating and set a $15.00 price target on shares of STAAR Surgical in a research report on Sunday. Zacks Investment Research raised STAAR Surgical from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Saturday, September 23rd. TheStreet raised STAAR Surgical from a “d+” rating to a “c” rating in a research report on Tuesday, August 15th. Finally, BidaskClub raised STAAR Surgical from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. STAAR Surgical currently has a consensus rating of “Buy” and an average price target of $13.33.
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Several large investors have recently added to or reduced their stakes in the company. Stephens Inc. AR increased its holdings in shares of STAAR Surgical by 2.6% in the second quarter. Stephens Inc. AR now owns 12,238 shares of the medical instruments supplier’s stock valued at $132,000 after purchasing an additional 315 shares during the period. Alliancebernstein L.P. increased its holdings in shares of STAAR Surgical by 1.7% in the second quarter. Alliancebernstein L.P. now owns 54,300 shares of the medical instruments supplier’s stock valued at $586,000 after purchasing an additional 900 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of STAAR Surgical by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 160,186 shares of the medical instruments supplier’s stock valued at $1,569,000 after purchasing an additional 1,392 shares during the period. Strs Ohio increased its holdings in shares of STAAR Surgical by 6.2% in the second quarter. Strs Ohio now owns 27,300 shares of the medical instruments supplier’s stock valued at $294,000 after purchasing an additional 1,600 shares during the period. Finally, American International Group Inc. increased its holdings in shares of STAAR Surgical by 7.1% in the first quarter. American International Group Inc. now owns 24,648 shares of the medical instruments supplier’s stock valued at $242,000 after purchasing an additional 1,631 shares during the period. 76.54% of the stock is currently owned by institutional investors and hedge funds.
Shares of STAAR Surgical (NASDAQ:STAA) traded up 1.13% during trading on Wednesday, reaching $13.45. 72,285 shares of the company traded hands. STAAR Surgical has a 1-year low of $7.45 and a 1-year high of $13.95. The stock’s 50 day moving average is $12.11 and its 200 day moving average is $10.59. The company’s market capitalization is $552.92 million.
About STAAR Surgical
STAAR Surgical Company designs, develops, manufactures and sells implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. It operates in the ophthalmic surgical market segment. Its principal products are intraocular lenses used in cataract surgery and implantable collamer lenses used in refractive surgery.
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