STAAR Surgical (NASDAQ:STAA) Releases Quarterly Earnings Results, Misses Expectations By $0.12 EPS

STAAR Surgical (NASDAQ:STAA) issued its quarterly earnings results on Tuesday. The medical instruments supplier reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12), Briefing.com reports. The company had revenue of $77.40 million during the quarter, compared to the consensus estimate of $75.34 million. STAAR Surgical had a return on equity of 8.73% and a net margin of 6.62%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.05 EPS.

STAAR Surgical Stock Up 1.5 %

Shares of STAA stock traded up $0.67 during trading hours on Tuesday, hitting $46.65. 724,898 shares of the company’s stock traded hands, compared to its average volume of 725,793. STAAR Surgical has a 12 month low of $26.66 and a 12 month high of $68.27. The stock has a market cap of $2.29 billion, a PE ratio of 106.93 and a beta of 0.80. The stock’s 50 day simple moving average is $41.66 and its 200 day simple moving average is $35.80.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Mizuho raised their target price on shares of STAAR Surgical from $45.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $50.00 target price on shares of STAAR Surgical in a report on Monday, April 1st. Canaccord Genuity Group boosted their price target on STAAR Surgical from $32.00 to $46.00 and gave the stock a “hold” rating in a report on Monday, April 8th. William Blair raised STAAR Surgical from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 4th. Finally, Piper Sandler decreased their target price on STAAR Surgical from $40.00 to $33.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, STAAR Surgical has an average rating of “Hold” and an average target price of $46.38.

Insider Buying and Selling

In related news, Director Aimee S. Weisner acquired 1,750 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average cost of $38.11 per share, with a total value of $66,692.50. Following the completion of the purchase, the director now directly owns 10,864 shares in the company, valued at $414,027.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.

About STAAR Surgical

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.