STAAR Surgical (NASDAQ:STAA) Issues Quarterly Earnings Results

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

STAAR Surgical Stock Performance

STAAR Surgical stock traded up $1.58 during trading on Thursday, hitting $42.60. The company’s stock had a trading volume of 67,440 shares, compared to its average volume of 725,556. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 95.40 and a beta of 0.80. The stock’s fifty day moving average is $42.13 and its 200 day moving average is $35.87. STAAR Surgical has a 1-year low of $26.66 and a 1-year high of $68.27.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Canaccord Genuity Group cut their price target on STAAR Surgical from $46.00 to $43.00 and set a “hold” rating on the stock in a research report on Wednesday. Stifel Nicolaus reissued a “buy” rating and issued a $50.00 target price on shares of STAAR Surgical in a report on Monday, April 1st. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a report on Wednesday. Mizuho boosted their target price on STAAR Surgical from $53.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday. Finally, William Blair raised STAAR Surgical from a “market perform” rating to an “outperform” rating in a report on Thursday, April 4th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $47.13.

Insiders Place Their Bets

In other news, Director Aimee S. Weisner purchased 1,750 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was bought at an average cost of $38.11 per share, for a total transaction of $66,692.50. Following the completion of the purchase, the director now directly owns 10,864 shares of the company’s stock, valued at approximately $414,027.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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.