Equities Analysts Offer Predictions for STAAR Surgical’s FY2024 Earnings (NASDAQ:STAA)

STAAR Surgical (NASDAQ:STAA) – Research analysts at William Blair reduced their FY2024 earnings estimates for STAAR Surgical in a research note issued to investors on Thursday, June 20th. William Blair analyst M. Kaczor now forecasts that the medical instruments supplier will post earnings per share of $0.12 for the year, down from their prior forecast of $0.16. William Blair 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.

A number of other research analysts have also weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a report on Wednesday, May 8th. Canaccord Genuity Group decreased their target price on shares of STAAR Surgical from $46.00 to $43.00 and set a “hold” rating on the stock in a report on Wednesday, May 8th. BTIG Research raised shares of STAAR Surgical from a “neutral” rating to a “buy” rating and set a $46.00 price target for the company in a report on Tuesday, June 11th. Mizuho boosted their price target on shares of STAAR Surgical from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 price objective on shares of STAAR Surgical in a research report on Monday, April 1st. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $47.00.

STAAR Surgical Stock Performance

NASDAQ:STAA opened at $41.15 on Monday. The business’s fifty day moving average is $42.97 and its 200 day moving average is $37.28. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 132.74 and a beta of 0.65. STAAR Surgical has a 52-week low of $26.66 and a 52-week high of $58.82.

STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings data on Tuesday, May 7th. The medical instruments supplier reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.12). The business had revenue of $77.40 million during 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 firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $0.05 earnings per share.

Hedge Funds Weigh In On STAAR Surgical

Several institutional investors and hedge funds have recently made changes to their positions in the business. Citigroup Inc. grew its stake in shares of STAAR Surgical by 14.5% during the third quarter. Citigroup Inc. now owns 19,163 shares of the medical instruments supplier’s stock valued at $770,000 after buying an additional 2,434 shares during the last quarter. Deutsche Bank AG increased its stake in STAAR Surgical by 4.3% in the 3rd quarter. Deutsche Bank AG now owns 49,810 shares of the medical instruments supplier’s stock worth $2,001,000 after purchasing an additional 2,048 shares during the period. PNC Financial Services Group Inc. lifted its position in STAAR Surgical by 171.5% in the third quarter. PNC Financial Services Group Inc. now owns 3,755 shares of the medical instruments supplier’s stock valued at $151,000 after purchasing an additional 2,372 shares during the last quarter. Invesco Ltd. lifted its position in STAAR Surgical by 121.6% in the third quarter. Invesco Ltd. now owns 165,661 shares of the medical instruments supplier’s stock valued at $6,656,000 after purchasing an additional 90,896 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of STAAR Surgical by 6.0% during the third quarter. Hsbc Holdings PLC now owns 8,540 shares of the medical instruments supplier’s stock valued at $347,000 after purchasing an additional 483 shares during the period. Institutional investors 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.