Medical lens company STAAR Surgical (NASDAQ: STAA) will be reporting results this Wednesday afternoon. Here’s what to expect.
STAAR Surgical missed analysts’ revenue expectations last quarter, reporting revenues of $57.8 million, up 18.1% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ revenue estimates and a significant miss of analysts’ EPS estimates.
Is STAAR Surgical a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting STAAR Surgical’s revenue to grow 81.8% year on year, a reversal from the 44.9% decrease it recorded in the same quarter last year.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing in majority downward revisions over the last 30 days. STAAR Surgical has missed Wall Street’s revenue estimates multiple 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. Globus Medical delivered year-on-year revenue growth of 27%, beating analysts’ expectations by 2.7%, and Haemonetics reported revenues up 4.8%, topping estimates by 2.6%. Globus Medical traded down 8.4% following the results while Haemonetics was up 4.7%.
Read our full analysis of Globus Medical’s results here and Haemonetics’s results here.
There has been positive sentiment among investors in the medical devices & supplies - specialty segment, with share prices up 2.3% on average over the last month. STAAR Surgical is up 3.4% during the same time and is heading into earnings with an average analyst price target of $21.11 (compared to the current share price of $27.74).
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