Zacks: Brokerages Anticipate STAAR Surgical (STAA) Will Post Earnings of $0.03 Per Share
Brokerages expect STAAR Surgical (NASDAQ:STAA) to post earnings per share (EPS) of $0.03 for the current quarter, Zacks reports. Zero analysts have provided estimates for STAAR Surgical’s earnings. STAAR Surgical reported earnings of $0.02 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 50%. The business is expected to report its next earnings results on Thursday, March 1st.
On average, analysts expect that STAAR Surgical will report full-year earnings of ($0.02) per share for the current financial year, with EPS estimates ranging from ($0.06) to $0.02. For the next year, analysts anticipate that the business will report earnings of $0.17 per share, with EPS estimates ranging from $0.15 to $0.19. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow STAAR Surgical.
STAA has been the topic of several research analyst reports. Benchmark boosted their price target on STAAR Surgical from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. Canaccord Genuity boosted their price target on STAAR Surgical from $17.50 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. Finally, 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 note on Saturday, September 23rd. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. STAAR Surgical has an average rating of “Buy” and a consensus price target of $17.67.
Several institutional investors have recently modified their holdings of the stock. Palo Alto Investors LLC raised its position in shares of STAAR Surgical by 1.6% during the 2nd quarter. Palo Alto Investors LLC now owns 3,529,070 shares of the medical instruments supplier’s stock worth $38,114,000 after purchasing an additional 55,900 shares during the last quarter. Vanguard Group Inc. raised its position in shares of STAAR Surgical by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,280,775 shares of the medical instruments supplier’s stock worth $13,832,000 after purchasing an additional 7,803 shares during the last quarter. Baillie Gifford & Co. raised its position in shares of STAAR Surgical by 4.8% during the 3rd quarter. Baillie Gifford & Co. now owns 698,742 shares of the medical instruments supplier’s stock worth $8,699,000 after purchasing an additional 32,130 shares during the last quarter. State Street Corp raised its position in shares of STAAR Surgical by 7.8% during the 2nd quarter. State Street Corp now owns 684,125 shares of the medical instruments supplier’s stock worth $7,390,000 after purchasing an additional 49,362 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of STAAR Surgical by 5.2% during the 2nd quarter. Northern Trust Corp now owns 481,459 shares of the medical instruments supplier’s stock worth $5,199,000 after purchasing an additional 23,764 shares during the last quarter. Hedge funds and other institutional investors own 77.70% of the company’s stock.
Shares of STAAR Surgical (STAA) traded down $0.20 during trading hours on Monday, hitting $15.75. The stock had a trading volume of 43,800 shares, compared to its average volume of 94,451. The stock has a market cap of $640.21, a price-to-earnings ratio of -315.00 and a beta of 1.18. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.24 and a quick ratio of 1.72. STAAR Surgical has a fifty-two week low of $8.95 and a fifty-two week high of $17.60.
STAAR Surgical Company Profile
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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