STAAR Surgical (NASDAQ:STAA) Given New $43.00 Price Target at Canaccord Genuity Group

STAAR Surgical (NASDAQ:STAA) had its price target trimmed by Canaccord Genuity Group from $46.00 to $43.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a hold rating on the medical instruments supplier’s stock.

Other research analysts also recently issued reports about the stock. Mizuho upped their target price on shares of STAAR Surgical from $53.00 to $55.00 and gave the company a buy rating in a research report on Wednesday. Piper Sandler boosted their target price on STAAR Surgical from $33.00 to $40.00 and gave the company a neutral rating in a research note on Wednesday. Needham & Company LLC reaffirmed a hold rating on shares of STAAR Surgical in a research report on Thursday, April 4th. Stifel Nicolaus restated a buy rating and set a $50.00 target price on shares of STAAR Surgical in a report on Monday, April 1st. Finally, William Blair upgraded shares of STAAR Surgical from a market perform rating to an outperform rating in a report on Thursday, April 4th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $47.13.

STAAR Surgical Stock Down 12.1 %

STAAR Surgical stock opened at $41.02 on Wednesday. STAAR Surgical has a 12 month low of $26.66 and a 12 month high of $68.27. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 95.40 and a beta of 0.80. The business has a 50 day moving average price of $42.13 and a two-hundred day moving average price of $35.87.

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

Insider Buying and Selling at STAAR Surgical

In other news, Director Aimee S. Weisner acquired 1,750 shares of the stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $38.11 per share, with a total value of $66,692.50. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

Several hedge funds and other institutional investors have recently bought and sold shares of STAA. Clear Street Markets LLC acquired a new position in shares of STAAR Surgical in the 3rd quarter valued at about $29,000. GAMMA Investing LLC increased its holdings in STAAR Surgical by 313.9% in the first quarter. GAMMA Investing LLC now owns 1,308 shares of the medical instruments supplier’s stock worth $50,000 after purchasing an additional 992 shares in the last quarter. Cape Investment Advisory Inc. acquired a new position in STAAR Surgical in the fourth quarter valued at approximately $42,000. Nisa Investment Advisors LLC boosted its holdings in shares of STAAR Surgical by 415.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,445 shares of the medical instruments supplier’s stock worth $98,000 after buying an additional 1,971 shares in the last quarter. Finally, Covestor Ltd increased its stake in shares of STAAR Surgical by 82,466.7% in the 3rd quarter. Covestor Ltd now owns 2,477 shares of the medical instruments supplier’s stock valued at $100,000 after acquiring an additional 2,474 shares in the last quarter. Institutional investors and hedge funds own 96.70% of the company’s stock.

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.