Zacks: Brokerages Anticipate STAAR Surgical (STAA) Will Announce Earnings of $0.03 Per Share
Brokerages predict that STAAR Surgical (NASDAQ:STAA) will report $0.03 earnings per share for the current quarter, Zacks reports. Zero analysts have issued estimates for STAAR Surgical’s earnings. STAAR Surgical reported earnings per share of $0.02 in the same quarter last year, which would suggest a positive year-over-year growth rate of 50%. The firm is scheduled to announce its next earnings report after the market closes on Wednesday, February 28th.
On average, analysts expect that STAAR Surgical will report full-year earnings of $0.02 per share for the current financial year. For the next year, analysts forecast that the company will post earnings of $0.19 per share. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow STAAR Surgical.
Several research firms have recently commented on STAA. Canaccord Genuity upped their target price on STAAR Surgical from $17.50 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 17th. BidaskClub cut STAAR Surgical from a “sell” rating to a “strong sell” rating in a research note on Saturday, January 6th. Finally, Benchmark reiterated a “buy” rating and issued a $21.00 price target on shares of STAAR Surgical in a research note on Monday, November 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $17.67.
Several hedge funds have recently modified their holdings of STAA. MetLife Investment Advisors LLC bought a new stake in STAAR Surgical during the fourth quarter worth $301,000. Macquarie Group Ltd. lifted its stake in STAAR Surgical by 138.2% during the fourth quarter. Macquarie Group Ltd. now owns 17,630 shares of the medical instruments supplier’s stock worth $273,000 after purchasing an additional 10,230 shares during the last quarter. Millennium Management LLC bought a new stake in STAAR Surgical during the fourth quarter worth $7,153,000. Meadow Creek Investment Management LLC lifted its stake in STAAR Surgical by 21.9% during the fourth quarter. Meadow Creek Investment Management LLC now owns 81,816 shares of the medical instruments supplier’s stock worth $1,268,000 after purchasing an additional 14,672 shares during the last quarter. Finally, Tyers Asset Management LLC lifted its stake in STAAR Surgical by 21.9% during the fourth quarter. Tyers Asset Management LLC now owns 46,752 shares of the medical instruments supplier’s stock worth $725,000 after purchasing an additional 8,384 shares during the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.
STAAR Surgical (STAA) traded up $0.05 during trading on Wednesday, hitting $15.15. The stock had a trading volume of 89,600 shares, compared to its average volume of 112,567. STAAR Surgical has a 52 week low of $8.95 and a 52 week high of $17.60. The company has a quick ratio of 1.72, a current ratio of 2.24 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $623.64, a P/E ratio of -303.00 and a beta of 1.25.
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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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