STAAR Surgical (NASDAQ:STAA) Price Target Raised to $40.00

STAAR Surgical (NASDAQ:STAA) had its price target raised by research analysts at Piper Sandler from $33.00 to $40.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the medical instruments supplier’s stock. Piper Sandler’s price target points to a potential upside of 0.33% from the stock’s previous close.

A number of other research firms have also issued reports on STAA. William Blair raised STAAR Surgical from a “market perform” rating to an “outperform” rating in a research report on Thursday, April 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research report on Thursday, April 4th. Canaccord Genuity Group increased their price target on STAAR Surgical from $32.00 to $46.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Mizuho raised their target price on STAAR Surgical from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Stifel Nicolaus reissued a “buy” rating and set a $50.00 target price on shares of STAAR Surgical in a research report on Monday, April 1st. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, STAAR Surgical currently has an average rating of “Hold” and a consensus price target of $47.50.

STAAR Surgical Trading Down 14.5 %

STAAR Surgical stock traded down $6.78 during midday trading on Wednesday, reaching $39.87. 712,130 shares of the stock traded hands, compared to its average volume of 725,063. The firm has a market cap of $1.96 billion, a PE ratio of 91.88 and a beta of 0.80. The company has a 50-day simple moving average of $41.94 and a two-hundred day simple moving average of $35.84. STAAR Surgical has a 12-month low of $26.66 and a 12-month high of $68.27.

STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). The company had revenue of $77.40 million during the quarter, compared to analyst estimates of $75.34 million. STAAR Surgical had a net margin of 6.62% and a return on equity of 8.73%. STAAR Surgical’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 EPS. Equities research analysts anticipate that STAAR Surgical will post 0.03 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Aimee S. Weisner purchased 1,750 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average price of $38.11 per share, for a total transaction of $66,692.50. Following the purchase, the director now directly owns 10,864 shares of the company’s stock, valued at approximately $414,027.04. 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 company insiders.

Hedge Funds Weigh In On STAAR Surgical

Hedge funds and other institutional investors have recently bought and sold shares of the company. Clear Street Markets LLC acquired a new position in shares of STAAR Surgical during the third quarter worth about $29,000. Cape Investment Advisory Inc. acquired a new position in shares of STAAR Surgical during the fourth quarter worth about $42,000. GAMMA Investing LLC increased its stake in shares of STAAR Surgical by 313.9% during the first quarter. GAMMA Investing LLC now owns 1,308 shares of the medical instruments supplier’s stock worth $50,000 after acquiring an additional 992 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of STAAR Surgical by 415.8% during the third quarter. Nisa Investment Advisors LLC now owns 2,445 shares of the medical instruments supplier’s stock worth $98,000 after acquiring an additional 1,971 shares during the period. Finally, Covestor Ltd increased its stake in shares of STAAR Surgical by 82,466.7% during the third quarter. Covestor Ltd now owns 2,477 shares of the medical instruments supplier’s stock worth $100,000 after acquiring an additional 2,474 shares during the period. 96.70% of the stock is currently owned by hedge funds and other institutional investors.

About STAAR Surgical

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.