Medical lens company STAAR Surgical (NASDAQ: STAA) will be reporting earnings this Wednesday after market hours. Here’s what investors should know.
STAAR Surgical beat analysts’ revenue expectations last quarter, reporting revenues of $93.52 million, up 120% year on year. It was an incredible quarter for the company, with a beat 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 104% year on year, a reversal from the 55.2% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. 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 Q2 results, giving us a hint as to what we can expect. Inspire Medical Systems’s revenues decreased 7.6% year on year, beating analysts’ expectations by 3%, and Integer Holdings reported a revenue decline of 2.6%, topping estimates by 3%. Inspire Medical Systems traded up 22.8% following the results while Integer Holdings was also up 3.2%.
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 3.7% on average over the last month. STAAR Surgical is down 8.9% during the same time and is heading into earnings with an average analyst price target of $28.70 (compared to the current share price of $25.31).
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