STAAR Surgical (NASDAQ:STAA) – Equities research analysts at William Blair cut their Q1 2019 earnings per share estimates for shares of STAAR Surgical in a report released on Monday, August 20th. William Blair analyst B. Weinstein now anticipates that the medical instruments supplier will earn $0.03 per share for the quarter, down from their prior estimate of $0.04. William Blair has a “Outperform” rating on the stock.
STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Wednesday, August 1st. The medical instruments supplier reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.08. The business had revenue of $33.91 million during the quarter, compared to analyst estimates of $27.10 million. STAAR Surgical had a net margin of 3.15% and a return on equity of 16.04%.
A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research raised shares of STAAR Surgical from a “hold” rating to a “strong-buy” rating and set a $46.00 price objective for the company in a research report on Thursday, August 9th. Benchmark started coverage on shares of STAAR Surgical in a research report on Monday, August 6th. They set a “buy” rating and a $45.00 price objective for the company. Canaccord Genuity reissued a “buy” rating and set a $43.00 price objective (up previously from $32.00) on shares of STAAR Surgical in a research report on Thursday, August 2nd. BidaskClub downgraded shares of STAAR Surgical from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 31st. Finally, TheStreet downgraded shares of STAAR Surgical from a “b-” rating to a “c” rating in a research report on Friday, June 29th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $38.75.
Shares of STAA opened at $43.20 on Wednesday. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 4,320.00 and a beta of 1.45. The company has a quick ratio of 2.11, a current ratio of 2.68 and a debt-to-equity ratio of 0.02. STAAR Surgical has a 1-year low of $10.75 and a 1-year high of $43.60.
Institutional investors have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. bought a new position in STAAR Surgical in the 2nd quarter worth $11,121,000. Deutsche Bank AG boosted its holdings in shares of STAAR Surgical by 133.2% during the 4th quarter. Deutsche Bank AG now owns 177,814 shares of the medical instruments supplier’s stock valued at $2,754,000 after purchasing an additional 101,573 shares during the last quarter. Millrace Asset Group Inc. boosted its holdings in shares of STAAR Surgical by 24.4% during the 1st quarter. Millrace Asset Group Inc. now owns 128,861 shares of the medical instruments supplier’s stock valued at $1,908,000 after purchasing an additional 25,290 shares during the last quarter. Fred Alger Management Inc. bought a new position in shares of STAAR Surgical during the 2nd quarter valued at about $1,039,000. Finally, Baillie Gifford & Co. boosted its holdings in shares of STAAR Surgical by 35.3% during the 1st quarter. Baillie Gifford & Co. now owns 1,071,975 shares of the medical instruments supplier’s stock valued at $15,866,000 after purchasing an additional 279,568 shares during the last quarter. 81.91% of the stock is owned by institutional investors.
In other news, Director William P. Wall sold 5,000 shares of the business’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $41.35, for a total transaction of $206,750.00. Following the completion of the sale, the director now owns 16,235 shares of the company’s stock, valued at approximately $671,317.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.90% 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 delivery systems to deliver the lenses into the eye. The company provides Visian implantable collamer lenses (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness.
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