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

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

STAAR Surgical Price Performance

NASDAQ:STAA opened at $46.65 on Wednesday. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 108.49 and a beta of 0.80. STAAR Surgical has a 1-year low of $26.66 and a 1-year high of $68.27. The firm’s fifty day moving average price is $41.94 and its 200 day moving average price is $35.84.

Insider Transactions at STAAR Surgical

In other news, Director Aimee S. Weisner purchased 1,750 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were acquired 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 in the company, valued at approximately $414,027.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on STAA. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a report on Thursday, April 4th. Piper Sandler dropped their price objective 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 boosted their target price on STAAR Surgical from $45.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, April 11th. William Blair raised STAAR Surgical from a “market perform” rating to an “outperform” rating in a research report on Thursday, April 4th. Finally, Canaccord Genuity Group increased their price objective on STAAR Surgical from $32.00 to $46.00 and gave the company a “hold” rating in a report on Monday, April 8th. 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.com, STAAR Surgical currently has an average rating of “Hold” and an average target price of $46.38.

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.