Zacks: Brokerages Anticipate STAAR Surgical (NASDAQ:STAA) Will Post Earnings of $0.16 Per Share

Analysts expect that STAAR Surgical (NASDAQ:STAA) will report $0.16 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for STAAR Surgical’s earnings. The lowest EPS estimate is $0.15 and the highest is $0.17. STAAR Surgical reported 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.

According to Zacks, analysts expect that STAAR Surgical will report full-year earnings of $0.81 per share for the current year, with EPS estimates ranging from $0.80 to $0.82. For the next financial year, analysts forecast that the company will post earnings of $0.97 per share, with EPS estimates ranging from $0.80 to $1.10. Zacks Investment Research’s earnings per share calculations 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 announced its quarterly earnings results on Tuesday, August 3rd. The medical instruments supplier reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.14. The company had revenue of $62.37 million for the quarter, compared to analyst estimates of $52.61 million. STAAR Surgical had a net margin of 10.08% and a return on equity of 14.07%. The firm’s revenue was up 77.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 earnings per share.

STAA has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of STAAR Surgical from a “hold” rating to a “buy” rating and set a $161.00 price target on the stock in a research note on Thursday, August 12th. TheStreet upgraded shares of STAAR Surgical from a “c+” rating to a “b” rating in a research report on Monday, August 9th. Finally, Oppenheimer initiated coverage on shares of STAAR Surgical in a research report on Thursday, July 8th. They set a “market perform” rating and a $150.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $153.67.

STAAR Surgical stock traded down $4.81 during mid-day trading on Friday, hitting $142.55. The company had a trading volume of 206,210 shares, compared to its average volume of 549,189. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 339.40 and a beta of 0.98. STAAR Surgical has a 1 year low of $53.42 and a 1 year high of $163.08. The business has a fifty day moving average of $141.07 and a 200 day moving average of $131.62.

In related news, VP James E. Francese sold 15,000 shares of the stock in a transaction on Wednesday, August 18th. The stock was sold at an average price of $146.91, for a total transaction of $2,203,650.00. Following the completion of the sale, the vice president now directly owns 57,630 shares of the company’s stock, valued at $8,466,423.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Patrick F. Williams sold 5,121 shares of the stock in a transaction on Thursday, September 16th. The stock was sold at an average price of $139.38, for a total value of $713,764.98. Following the sale, the chief financial officer now directly owns 25,619 shares of the company’s stock, valued at $3,570,776.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 176,315 shares of company stock worth $27,220,551. Insiders own 3.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in STAA. IFP Advisors Inc acquired a new stake in STAAR Surgical in the first quarter valued at $26,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in STAAR Surgical by 13.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,980 shares of the medical instruments supplier’s stock valued at $525,000 after acquiring an additional 580 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in STAAR Surgical by 181.4% in the first quarter. The Manufacturers Life Insurance Company now owns 76,942 shares of the medical instruments supplier’s stock valued at $8,110,000 after acquiring an additional 49,596 shares during the period. Victory Capital Management Inc. lifted its holdings in STAAR Surgical by 70.3% in the first quarter. Victory Capital Management Inc. now owns 76,662 shares of the medical instruments supplier’s stock valued at $8,081,000 after acquiring an additional 31,641 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of STAAR Surgical by 50.4% during the 1st quarter. Alliancebernstein L.P. now owns 140,528 shares of the medical instruments supplier’s stock worth $14,813,000 after buying an additional 47,061 shares during the last quarter. 88.30% of the stock is owned by institutional investors.

STAAR Surgical Company Profile

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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