Brokers Issue Forecasts for STAAR Surgical’s FY2024 Earnings (NASDAQ:STAA)

STAAR Surgical (NASDAQ:STAA) – Investment analysts at William Blair reduced their FY2024 earnings estimates for shares of STAAR Surgical in a note issued to investors on Thursday, June 20th. William Blair analyst M. Kaczor now forecasts that the medical instruments supplier will earn $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 $0.08 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.

STAA has been the subject of several other research reports. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research note on Wednesday, May 8th. Mizuho increased their price objective 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. BTIG Research upgraded shares of STAAR Surgical from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Tuesday, June 11th. Canaccord Genuity Group decreased their price objective 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. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 price objective on shares of STAAR Surgical in a research note on Monday, April 1st. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.00.

STAAR Surgical Price Performance

STAA opened at $42.32 on Monday. STAAR Surgical has a fifty-two week low of $26.66 and a fifty-two week high of $58.82. The firm has a market capitalization of $2.08 billion, a PE ratio of 136.52 and a beta of 0.65. The company’s 50-day moving average is $42.89 and its 200 day moving average is $37.34.

STAAR Surgical (NASDAQ:STAA) last posted its 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). STAAR Surgical had a return on equity of 6.83% and a net margin of 4.69%. The business had revenue of $77.40 million during the quarter, compared to analyst estimates of $75.34 million. During the same quarter in the prior year, the company earned $0.05 EPS. The company’s revenue was up 5.3% on a year-over-year basis.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of STAA. Broadwood Capital Inc. raised its holdings in STAAR Surgical by 13.7% during the 4th quarter. Broadwood Capital Inc. now owns 10,537,835 shares of the medical instruments supplier’s stock valued at $328,886,000 after acquiring an additional 1,273,408 shares during the period. Vanguard Group Inc. lifted its holdings in STAAR Surgical by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,468,710 shares of the medical instruments supplier’s stock worth $170,678,000 after purchasing an additional 43,083 shares in the last quarter. Defender Capital LLC. boosted its stake in STAAR Surgical by 1.1% in the 1st quarter. Defender Capital LLC. now owns 730,387 shares of the medical instruments supplier’s stock worth $27,959,000 after purchasing an additional 7,855 shares during the period. Yunqi Capital Ltd grew its holdings in STAAR Surgical by 162.0% during the 1st quarter. Yunqi Capital Ltd now owns 515,300 shares of the medical instruments supplier’s stock valued at $19,726,000 after buying an additional 318,600 shares in the last quarter. Finally, Norges Bank purchased a new position in STAAR Surgical during the 4th quarter valued at about $13,615,000. 96.70% of the stock is owned by institutional investors.

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.