STAAR Surgical (NASDAQ:STAA) Receives Average Recommendation of “Hold” from Brokerages

Shares of STAAR Surgical (NASDAQ:STAA) have earned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $45.57.

Several equities analysts recently issued reports on the company. Morgan Stanley lowered STAAR Surgical from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $50.00 to $37.00 in a research report on Monday, July 15th. Stifel Nicolaus decreased their target price on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. BTIG Research increased their price target on shares of STAAR Surgical from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a report on Thursday, September 19th. Finally, Canaccord Genuity Group lowered their price objective on shares of STAAR Surgical from $43.00 to $41.00 and set a “hold” rating for the company in a research note on Thursday, August 8th.

STAAR Surgical Price Performance

Shares of NASDAQ STAA opened at $35.07 on Friday. The stock has a market capitalization of $1.72 billion, a P/E ratio of 110.10 and a beta of 0.59. STAAR Surgical has a one year low of $26.66 and a one year high of $52.68. The firm’s 50 day simple moving average is $34.66 and its two-hundred day simple moving average is $40.22.

STAAR Surgical (NASDAQ:STAA) last released its earnings results on Wednesday, August 7th. The medical instruments supplier reported $0.15 EPS for the quarter, missing the consensus estimate 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 period in the prior year, the business posted $0.23 EPS. STAAR Surgical’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities analysts expect that STAAR Surgical will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Arthur C. Butcher bought 1,315 shares of STAAR Surgical stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $37.99 per share, for a total transaction of $49,956.85. Following the acquisition, the director now owns 4,208 shares of the company’s stock, valued at approximately $159,861.92. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by insiders.

Institutional Trading of STAAR Surgical

A number of hedge funds have recently modified their holdings of the business. Broadwood Capital Inc. lifted its position in STAAR Surgical by 13.7% during the 4th quarter. Broadwood Capital Inc. now owns 10,537,835 shares of the medical instruments supplier’s stock valued at $328,886,000 after acquiring an additional 1,273,408 shares during the period. Vanguard Group Inc. increased its stake in shares of STAAR Surgical by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,468,710 shares of the medical instruments supplier’s stock valued at $170,678,000 after purchasing an additional 43,083 shares in the last quarter. Defender Capital LLC. increased its stake in shares of STAAR Surgical by 1.1% during the first quarter. Defender Capital LLC. now owns 730,387 shares of the medical instruments supplier’s stock valued at $27,959,000 after purchasing an additional 7,855 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of STAAR Surgical by 50.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 592,621 shares of the medical instruments supplier’s stock valued at $28,215,000 after purchasing an additional 197,717 shares during the last quarter. Finally, Yunqi Capital Ltd boosted its position in shares of STAAR Surgical by 162.0% in the 1st quarter. Yunqi Capital Ltd now owns 515,300 shares of the medical instruments supplier’s stock worth $19,726,000 after purchasing an additional 318,600 shares in the last quarter. Institutional investors own 96.70% of the company’s stock.

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.