STAAR Surgical (STAA) Set to Announce Quarterly Earnings on Wednesday

STAAR Surgical (NASDAQ:STAA) is set to post its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect STAAR Surgical to post earnings of $0.19 per share for the quarter. STAAR Surgical has set its FY 2024 guidance at EPS.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings results on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.09). The company had revenue of $99.01 million for the quarter, compared to analysts’ expectations of $95.22 million. STAAR Surgical had a return on equity of 5.60% and a net margin of 4.99%. STAAR Surgical’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 EPS. On average, analysts expect STAAR Surgical to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

STAAR Surgical Stock Performance

Shares of STAAR Surgical stock opened at $30.19 on Thursday. The business has a 50-day simple moving average of $32.72 and a 200-day simple moving average of $39.48. The company has a market cap of $1.49 billion, a PE ratio of 88.79 and a beta of 0.59. STAAR Surgical has a one year low of $26.66 and a one year high of $52.68.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Morgan Stanley downgraded shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $50.00 to $37.00 in a research report on Monday, July 15th. Stifel Nicolaus cut their price target on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research report on Thursday, September 19th. Canaccord Genuity Group decreased their target price on STAAR Surgical from $43.00 to $41.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Finally, BTIG Research increased their price target on shares of STAAR Surgical from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, STAAR Surgical presently has an average rating of “Hold” and a consensus price target of $45.57.

Insider Activity

In related news, Director Arthur C. Butcher purchased 1,315 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $37.99 per share, for a total transaction of $49,956.85. Following the transaction, the director now directly owns 4,208 shares of the company’s stock, valued at approximately $159,861.92. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

STAAR Surgical Company Profile

STAAR Surgical Company, together with its subsidiaries, designs, develops, manufactures, markets, and sells implantable lenses for the eye, and companion delivery systems to deliver the lenses into the eye. The company provides implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia.