STAAR Surgical (NASDAQ:STAA) Receives $45.57 Average Target Price from Analysts

Shares of STAAR Surgical (NASDAQ:STAA) have earned an average rating of “Hold” from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $45.57.

A number of research firms have recently commented on STAA. Morgan Stanley cut shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $50.00 to $37.00 in a research note on Monday, July 15th. Canaccord Genuity Group cut their price target on STAAR Surgical from $43.00 to $41.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a report on Thursday, August 8th. BTIG Research boosted their price target on STAAR Surgical from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Stifel Nicolaus reduced their price target on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, August 26th.

STAAR Surgical Price Performance

Shares of NASDAQ STAA opened at $31.12 on Tuesday. STAAR Surgical has a one year low of $26.66 and a one year high of $52.68. The business’s 50-day moving average price is $39.03 and its two-hundred day moving average price is $40.50. The company has a market capitalization of $1.53 billion, a P/E ratio of 100.39 and a beta of 0.58.

STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings results on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). STAAR Surgical had a net margin of 4.99% and a return on equity of 5.60%. The business had revenue of $99.01 million for the quarter, compared to the consensus estimate of $95.22 million. During the same quarter in the prior year, the business posted $0.23 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities analysts anticipate that STAAR Surgical will post 0.13 EPS for the current year.

Insider Transactions at STAAR Surgical

In other news, Director Arthur C. Butcher purchased 1,315 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $37.99 per share, for a total transaction of $49,956.85. Following the completion of the acquisition, the director now directly owns 4,208 shares in the company, valued at $159,861.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On STAAR Surgical

Hedge funds and other institutional investors have recently bought and sold shares of the business. Broadwood Capital Inc. boosted its position in shares of STAAR Surgical by 13.7% in the 4th quarter. Broadwood Capital Inc. now owns 10,537,835 shares of the medical instruments supplier’s stock worth $328,886,000 after purchasing an additional 1,273,408 shares during the last quarter. Norges Bank acquired a new position in shares of STAAR Surgical during the 4th quarter worth about $13,615,000. Granite Investment Partners LLC bought a new stake in shares of STAAR Surgical in the 2nd quarter valued at about $17,237,000. Yunqi Capital Ltd boosted its stake in STAAR Surgical by 162.0% during the 1st quarter. Yunqi Capital Ltd now owns 515,300 shares of the medical instruments supplier’s stock worth $19,726,000 after acquiring an additional 318,600 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in STAAR Surgical by 296.0% during the 4th quarter. BNP Paribas Financial Markets now owns 281,547 shares of the medical instruments supplier’s stock worth $8,787,000 after acquiring an additional 210,443 shares during the last quarter. 96.70% of the stock is owned by institutional investors.

STAAR Surgical Company Profile

STAAR Surgical Company, together with its subsidiaries, designs, develops, manufactures, markets, and sells implantable lenses for the eye, and companion delivery systems to deliver the lenses into the eye. The company provides implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia.