Staar Surgical (STAA) closed at $77.97 in the latest trading session, marking a -1.73% move from the prior day. This change lagged the S&P 500's 1.04% loss on the day. Meanwhile, the Dow lost 0.38%, and the Nasdaq, a tech-heavy index, lost 5.88%.
Prior to today's trading, shares of the maker of implantable lenses had gained 36.44% over the past month. This has outpaced the Medical sector's loss of 0.12% and the S&P 500's gain of 8.97% in that time.
Investors will be hoping for strength from Staar Surgical as it approaches its next earnings release. The company is expected to report EPS of $0.15, down 21.05% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $64.37 million, up 9.09% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Staar Surgical. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.63% lower. Staar Surgical is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note Staar Surgical's current valuation metrics, including its Forward P/E ratio of 57.08. Its industry sports an average Forward P/E of 21.09, so we one might conclude that Staar Surgical is trading at a premium comparatively.
The Medical - Dental Supplies industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>STAAR Surgical Company (STAA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
