For Risk-Tolerant Investors, Staar Surgical Co. (NASDAQ: STAA) Stands Out As A Strong Investment Choice

During the last session, Staar Surgical Co. (NASDAQ:STAA)’s traded shares were 2.36 million, with the beta value of the company hitting 0.87. At the end of the trading day, the stock’s price was $45.51, reflecting an intraday gain of 16.48% or $6.44. The 52-week high for the STAA share is $73.13, that puts it down -60.69 from that peak though still a striking 41.42% gain since the share price plummeted to a 52-week low of $26.66. The company’s market capitalization is $2.22B, and the average intraday trading volume over the past 10 days was 0.62 million shares, and the average trade volume was 723.45K shares over the past three months.

Staar Surgical Co. (NASDAQ:STAA) trade information

Staar Surgical Co. (STAA) registered a 16.48% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 16.48% in intraday trading to $45.51, hitting a weekly high. The stock’s 5-day price performance is 20.72%, and it has moved by 36.75% in 30 days. Based on these gigs, the overall price performance for the year is -27.58%. The short interest in Staar Surgical Co. (NASDAQ:STAA) is 5.43 million shares and it means that shorts have 7.44 day(s) to cover.

Staar Surgical Co. (STAA) estimates and forecasts

Statistics show that Staar Surgical Co. has underperformed its competitors in share price, compared to the industry in which it operates. Staar Surgical Co. (STAA) shares have gone up 15.65% during the last six months, with a year-to-date growth rate less than the industry average at -48.70% against 7.50. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -83.30% this quarter and then drop -40.00% in the quarter after that. In the rating firms’ projections, revenue will increase 4.60% compared to the previous financial year.

Revenue for the current quarter is expected to be $72.13 million as predicted by 11 analyst(s). Meanwhile, a consensus of 11 analyst(s) estimates revenue growth to $95.02 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $66.96 million and $92.31 million respectively. In this case, analysts expect current quarter sales to grow by 7.70% and then jump by 2.90% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 31.51%. While earnings are projected to return -47.71% in 2024, the next five years will return 30.00% per annum.

STAA Dividends

Staar Surgical Co. is due to release its next quarterly earnings in May. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Staar Surgical Co. (NASDAQ:STAA)’s Major holders

Staar Surgical Co. insiders own 0.79% of total outstanding shares while institutional holders control 107.71%, with the float percentage being 108.56%. Broadwood Capital, Inc. is the largest shareholder of the company, while 305 institutions own stock in it. As of Jun 29, 2023, the company held over 8.78 million shares (or 18.11% of all shares), a total value of $461.73 million in shares.

The next largest institutional holding, with 6.34 million shares, is of Blackrock Inc.’s that is approximately 13.07% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $333.26 million.

Also, the Mutual Funds coming in first place with the largest holdings of Staar Surgical Co. (STAA) shares are iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. Data provided on Sep 29, 2023 indicates that iShares Core S&P Smallcap ETF owns about 3.27 million shares. This amounts to just over 6.75 percent of the company’s overall shares, with a $131.57 million market value. The same data shows that the other fund manager holds slightly less at 1.5 million, or about 3.10% of the stock, which is worth about $79.07 million.