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

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

STAAR Surgical Trading Up 1.5 %

NASDAQ:STAA traded up $0.67 during mid-day trading on Tuesday, reaching $46.65. The company’s stock had a trading volume of 724,898 shares, compared to its average volume of 725,793. The stock has a market cap of $2.29 billion, a P/E ratio of 106.93 and a beta of 0.80. The firm’s fifty day moving average price is $41.66 and its two-hundred day moving average price is $35.80. STAAR Surgical has a 12-month low of $26.66 and a 12-month high of $68.27.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. William Blair raised shares of STAAR Surgical from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 4th. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research note on Thursday, April 4th. Piper Sandler dropped their target price on STAAR Surgical from $40.00 to $33.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Mizuho raised their price target on STAAR Surgical from $45.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $50.00 price target on shares of STAAR Surgical in a research report on Monday, April 1st. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, STAAR Surgical presently has a consensus rating of “Hold” and an average price target of $46.38.

Insider Activity

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