Medical lens company STAAR Surgical (NASDAQ: STAA) will be reporting results tomorrow after market hours. Here’s what investors should know.
STAAR Surgical missed analysts’ revenue expectations by 36.8% last quarter, reporting revenues of $48.95 million, down 35.8% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ EPS and constant currency revenue estimates.
Is STAAR Surgical a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting STAAR Surgical’s revenue to decline 47.8% year on year to $40.35 million, a reversal from the 5.2% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.60 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. STAAR Surgical has missed Wall Street’s revenue estimates four times over the last two years.
Looking at STAAR Surgical’s peers in the medical devices & supplies - specialty segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Inspire Medical Systems delivered year-on-year revenue growth of 22.7%, beating analysts’ expectations by 3.1%, and Integer Holdings reported revenues up 7.3%, topping estimates by 2%. Integer Holdings traded up 2.6% following the results.
Read our full analysis of Inspire Medical Systems’s results here and Integer Holdings’s results here.
There has been positive sentiment among investors in the medical devices & supplies - specialty segment, with share prices up 4.4% on average over the last month. STAAR Surgical is up 17.1% during the same time and is heading into earnings with an average analyst price target of $18.50 (compared to the current share price of $18.90).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
