STAAR Surgical (NASDAQ:STAA) Lowered to Hold Rating by Zacks Research

Zacks Research downgraded shares of STAAR Surgical (NASDAQ:STAA) from a strong-buy rating to a hold rating in a research report report published on Wednesday morning,Zacks reports.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus cut their target price on STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, August 17th. Wedbush dropped their price objective on shares of STAAR Surgical from $40.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, August 13th. Canaccord Genuity Group boosted their price objective on shares of STAAR Surgical from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. UBS Group set a $28.00 price objective on shares of STAAR Surgical in a research report on Monday, August 17th. Finally, Weiss Ratings upgraded shares of STAAR Surgical from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, STAAR Surgical currently has a consensus rating of “Reduce” and a consensus target price of $28.40.

STAAR Surgical Price Performance

STAA stock opened at $23.58 on Wednesday. The stock has a market capitalization of $1.18 billion, a P/E ratio of 336.91 and a beta of 1.21. STAAR Surgical has a 1-year low of $15.59 and a 1-year high of $35.87. The business has a fifty day moving average price of $25.17 and a 200-day moving average price of $24.72.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings data on Wednesday, August 12th. The medical instruments supplier reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.17. STAAR Surgical had a return on equity of 9.05% and a net margin of 1.13%.The firm had revenue of $93.53 million during the quarter, compared to analyst estimates of $90.60 million. During the same quarter last year, the business posted ($0.34) earnings per share. The business’s quarterly revenue was up 111.1% compared to the same quarter last year. As a group, analysts anticipate that STAAR Surgical will post 0.39 earnings per share for the current year.

Institutional Trading of STAAR Surgical

A number of large investors have recently made changes to their positions in the stock. Broadwood Capital Inc. increased its stake in STAAR Surgical by 11.1% in the 4th quarter. Broadwood Capital Inc. now owns 15,019,491 shares of the medical instruments supplier’s stock worth $346,800,000 after buying an additional 1,500,000 shares during the period. Soleus Capital Management L.P. grew its stake in STAAR Surgical by 16.5% in the 2nd quarter. Soleus Capital Management L.P. now owns 2,984,733 shares of the medical instruments supplier’s stock worth $50,084,000 after acquiring an additional 421,840 shares in the last quarter. Yunqi Capital Ltd grew its stake in STAAR Surgical by 0.3% in the 4th quarter. Yunqi Capital Ltd now owns 2,507,130 shares of the medical instruments supplier’s stock worth $57,890,000 after acquiring an additional 7,069 shares in the last quarter. Magnetar Financial LLC increased its position in shares of STAAR Surgical by 105.3% during the fourth quarter. Magnetar Financial LLC now owns 2,472,390 shares of the medical instruments supplier’s stock worth $57,087,000 after acquiring an additional 1,268,019 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of STAAR Surgical by 112.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,076,743 shares of the medical instruments supplier’s stock worth $47,952,000 after acquiring an additional 1,100,484 shares during the period. 96.70% of the stock is owned by hedge funds and other 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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.