STAAR Surgical (NASDAQ:STAA) Releases Earnings Results, Misses Estimates By $0.09 EPS

STAAR Surgical (NASDAQ:STAA) posted its quarterly earnings data on Wednesday. The medical instruments supplier reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09), Briefing.com reports. STAAR Surgical had a net margin of 4.69% and a return on equity of 6.83%. The firm had revenue of $99.01 million during the quarter, compared to analysts’ expectations of $95.22 million. During the same quarter last year, the business earned $0.23 earnings per share. The business’s quarterly revenue was up 7.3% on a year-over-year basis. STAAR Surgical updated its FY 2024 guidance to EPS.

STAAR Surgical Stock Down 4.1 %

Shares of NASDAQ:STAA traded down $1.54 during mid-day trading on Wednesday, reaching $36.35. 1,444,534 shares of the stock were exchanged, compared to its average volume of 686,743. The company has a market cap of $1.79 billion, a P/E ratio of 117.26 and a beta of 0.59. The stock’s 50 day simple moving average is $42.01 and its 200-day simple moving average is $39.76. STAAR Surgical has a one year low of $26.66 and a one year high of $52.68.

Wall Street Analyst Weigh In

STAA has been the topic of several recent research reports. Morgan Stanley lowered shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $50.00 to $37.00 in a research report on Monday, July 15th. Canaccord Genuity Group dropped their target price on STAAR Surgical from $46.00 to $43.00 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. Piper Sandler raised their price target on STAAR Surgical from $33.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research note on Monday, July 15th. Finally, BTIG Research increased their price objective on STAAR Surgical from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, STAAR Surgical presently has an average rating of “Hold” and an average price target of $48.00.

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.