Zacks: Brokerages Expect STAAR Surgical (NASDAQ:STAA) to Announce $0.16 Earnings Per Share

Equities analysts forecast that STAAR Surgical (NASDAQ:STAA) will announce earnings per share of $0.16 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for STAAR Surgical’s earnings. The highest EPS estimate is $0.17 and the lowest is $0.15. STAAR Surgical posted earnings of $0.14 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 14.3%. The business is expected to announce its next quarterly earnings report on Wednesday, November 3rd.

On average, analysts expect that STAAR Surgical will report full year earnings of $0.81 per share for the current fiscal year, with EPS estimates ranging from $0.80 to $0.82. For the next fiscal year, analysts forecast that the firm will post earnings of $0.97 per share, with EPS estimates ranging from $0.80 to $1.10. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for STAAR Surgical.

STAAR Surgical (NASDAQ:STAA) last posted its earnings results on Tuesday, August 3rd. The medical instruments supplier reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.14. STAAR Surgical had a return on equity of 14.07% and a net margin of 10.08%. The company had revenue of $62.37 million during the quarter, compared to the consensus estimate of $52.61 million. During the same quarter last year, the firm earned $0.03 earnings per share. The company’s revenue was up 77.2% on a year-over-year basis.

A number of research analysts recently commented on STAA shares. Zacks Investment Research upgraded STAAR Surgical from a “hold” rating to a “buy” rating and set a $161.00 price target on the stock in a research report on Thursday, August 12th. TheStreet cut STAAR Surgical from a “b” rating to a “c+” rating in a research report on Tuesday, September 28th. Finally, Oppenheimer initiated coverage on STAAR Surgical in a research report on Thursday, July 8th. They issued a “market perform” rating and a $150.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $153.67.

Shares of NASDAQ STAA traded down $1.55 during mid-day trading on Friday, reaching $113.95. The company had a trading volume of 6,917 shares, compared to its average volume of 537,064. STAAR Surgical has a one year low of $57.28 and a one year high of $163.08. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of 275.00 and a beta of 0.98. The business’s 50-day simple moving average is $139.05 and its 200 day simple moving average is $134.10.

In other news, VP Hans-Martin Blickensdoerfer sold 26,194 shares of the business’s stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $157.61, for a total transaction of $4,128,436.34. Following the sale, the vice president now directly owns 99,760 shares in the company, valued at $15,723,173.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Samuel J. Gesten sold 15,000 shares of the business’s stock in a transaction dated Monday, October 4th. The stock was sold at an average price of $114.53, for a total value of $1,717,950.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,315 shares of company stock worth $8,763,801. Company insiders own 3.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. Baillie Gifford & Co. lifted its stake in shares of STAAR Surgical by 33.7% in the second quarter. Baillie Gifford & Co. now owns 5,575,832 shares of the medical instruments supplier’s stock worth $850,313,000 after acquiring an additional 1,404,968 shares during the period. Vanguard Group Inc. lifted its stake in shares of STAAR Surgical by 1.5% in the second quarter. Vanguard Group Inc. now owns 4,581,973 shares of the medical instruments supplier’s stock worth $698,750,000 after acquiring an additional 65,998 shares during the period. State Street Corp lifted its stake in shares of STAAR Surgical by 2.0% in the second quarter. State Street Corp now owns 1,478,571 shares of the medical instruments supplier’s stock worth $225,482,000 after acquiring an additional 29,023 shares during the period. Ensign Peak Advisors Inc lifted its stake in shares of STAAR Surgical by 20.2% in the second quarter. Ensign Peak Advisors Inc now owns 878,760 shares of the medical instruments supplier’s stock worth $134,012,000 after acquiring an additional 147,700 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of STAAR Surgical by 4.3% in the second quarter. Geode Capital Management LLC now owns 826,223 shares of the medical instruments supplier’s stock worth $125,999,000 after acquiring an additional 33,917 shares during the period. 88.30% of the stock is currently owned by institutional investors.

About STAAR Surgical

STAAR Surgical Co engages in the development, manufacture, production, marketing, and sale of implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. It specializes in refractive and cataract solutions. Its products include intraocular lens and implantable collamer lens.

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