STAAR Surgical (NASDAQ:STAA) Forecasted to Post FY2024 Earnings of $0.12 Per Share

STAAR Surgical (NASDAQ:STAA) – Equities researchers at William Blair reduced their FY2024 EPS estimates for STAAR Surgical in a research report issued on Thursday, June 20th. William Blair analyst M. Kaczor now expects that the medical instruments supplier will post earnings of $0.12 per share for the year, down from their prior forecast of $0.16. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for STAAR Surgical’s current full-year earnings is $0.09 per share. William Blair also issued estimates for STAAR Surgical’s Q4 2024 earnings at ($0.01) EPS and Q2 2025 earnings at $0.14 EPS.

Other equities research analysts also recently issued reports about the stock. Canaccord Genuity Group dropped their price target on shares of STAAR Surgical from $46.00 to $43.00 and set a “hold” rating for the company in a research note on Wednesday, May 8th. Mizuho upped their target price on shares of STAAR Surgical from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $50.00 target price on shares of STAAR Surgical in a research note on Monday, April 1st. Piper Sandler upped their target price on shares of STAAR Surgical from $33.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Finally, BTIG Research raised shares of STAAR Surgical from a “neutral” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Tuesday, June 11th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $47.00.

STAAR Surgical Price Performance

STAA opened at $40.75 on Monday. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 131.45 and a beta of 0.65. The firm has a 50 day simple moving average of $43.07 and a 200 day simple moving average of $37.21. STAAR Surgical has a fifty-two week low of $26.66 and a fifty-two week high of $58.82.

STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). The business had revenue of $77.40 million for the quarter, compared to the consensus estimate of $75.34 million. STAAR Surgical had a return on equity of 6.83% and a net margin of 4.69%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $0.05 earnings per share.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in STAA. Broadwood Capital Inc. boosted its holdings in STAAR Surgical by 13.7% during the fourth quarter. Broadwood Capital Inc. now owns 10,537,835 shares of the medical instruments supplier’s stock worth $328,886,000 after purchasing an additional 1,273,408 shares during the last quarter. Vanguard Group Inc. boosted its holdings in STAAR Surgical by 10.0% during the third quarter. Vanguard Group Inc. now owns 5,425,627 shares of the medical instruments supplier’s stock worth $218,002,000 after purchasing an additional 492,500 shares during the last quarter. Norges Bank acquired a new position in STAAR Surgical during the fourth quarter worth $13,615,000. Yunqi Capital Ltd boosted its holdings in STAAR Surgical by 162.0% during the first quarter. Yunqi Capital Ltd now owns 515,300 shares of the medical instruments supplier’s stock worth $19,726,000 after purchasing an additional 318,600 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in STAAR Surgical by 296.0% during the fourth quarter. BNP Paribas Financial Markets now owns 281,547 shares of the medical instruments supplier’s stock worth $8,787,000 after purchasing an additional 210,443 shares during the last quarter. Institutional investors and hedge funds own 96.70% of the company’s stock.

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.