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Staar Surgical (STAA) Soars 7.5%: Is Further Upside Left in the Stock?
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Staar Surgical (STAA - Free Report) shares rallied 7.5% in the last trading session to close at $45.51. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 3.4% gain over the past four weeks.
The sharp upsurge in STAAR Surgical's shares can be attributed to the continuing intitutional inflows for the past few months. The company also witnessed strong demand for its flagship product, EVO ICL, which has likely to have kept the positive sentiments of the investors intact.
This maker of implantable lenses is expected to post quarterly earnings of $0.25 per share in its upcoming report, which represents a year-over-year change of -37.5%. Revenues are expected to be $95.13 million, up 3.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Staar Surgical, the consensus EPS estimate for the quarter has been revised 7.9% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on STAA going forward to see if this recent jump can turn into more strength down the road.
Staar Surgical is part of the Zacks Medical - Dental Supplies industry. Conmed (CNMD - Free Report) , another stock in the same industry, closed the last trading session 0.8% higher at $67.45. CNMD has returned -10.2% in the past month.
Conmed's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.92. Compared to the company's year-ago EPS, this represents a change of +10.8%. Conmed currently boasts a Zacks Rank of #3 (Hold).
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Staar Surgical (STAA) Soars 7.5%: Is Further Upside Left in the Stock?
Staar Surgical (STAA - Free Report) shares rallied 7.5% in the last trading session to close at $45.51. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 3.4% gain over the past four weeks.
The sharp upsurge in STAAR Surgical's shares can be attributed to the continuing intitutional inflows for the past few months. The company also witnessed strong demand for its flagship product, EVO ICL, which has likely to have kept the positive sentiments of the investors intact.
This maker of implantable lenses is expected to post quarterly earnings of $0.25 per share in its upcoming report, which represents a year-over-year change of -37.5%. Revenues are expected to be $95.13 million, up 3.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Staar Surgical, the consensus EPS estimate for the quarter has been revised 7.9% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on STAA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Staar Surgical is part of the Zacks Medical - Dental Supplies industry. Conmed (CNMD - Free Report) , another stock in the same industry, closed the last trading session 0.8% higher at $67.45. CNMD has returned -10.2% in the past month.
Conmed's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.92. Compared to the company's year-ago EPS, this represents a change of +10.8%. Conmed currently boasts a Zacks Rank of #3 (Hold).