STAAR Surgical (NASDAQ:STAA) Issues 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 the consensus estimate of $0.05 by ($0.12), Briefing.com reports. The company had revenue of $77.40 million during the quarter, compared to analyst estimates of $75.34 million. STAAR Surgical had a net margin of 6.62% and a return on equity of 8.73%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.05 EPS.

STAAR Surgical Stock Performance

NASDAQ:STAA traded up $1.58 during mid-day trading on Thursday, hitting $42.60. The stock had a trading volume of 67,440 shares, compared to its average volume of 725,556. STAAR Surgical has a twelve month low of $26.66 and a twelve month high of $68.27. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 95.40 and a beta of 0.80. The company’s 50 day simple moving average is $42.13 and its 200 day simple moving average is $35.87.

Insiders Place Their Bets

In other STAAR Surgical news, Director Aimee S. Weisner bought 1,750 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $38.11 per share, with a total value of $66,692.50. Following the acquisition, the director now owns 10,864 shares of the company’s stock, valued at $414,027.04. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. William Blair upgraded shares of STAAR Surgical from a “market perform” rating to an “outperform” rating in a report on Thursday, April 4th. Stifel Nicolaus reiterated a “buy” rating and set a $50.00 price objective on shares of STAAR Surgical in a report on Monday, April 1st. Mizuho increased their target price on STAAR Surgical from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday. Canaccord Genuity Group reduced their price target on shares of STAAR Surgical from $46.00 to $43.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a report on Wednesday. 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, the company currently has an average rating of “Hold” and an average price target of $47.13.

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.