STAAR Surgical Company (NASDAQ:STAA) Receives $19.21 Average Target Price from Analysts

Shares of STAAR Surgical Company (NASDAQ:STAA) have been given an average recommendation of “Reduce” by the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $19.2143.

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus reduced their price target on shares of STAAR Surgical from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Wednesday, March 4th. Wells Fargo & Company dropped their price objective on STAAR Surgical from $30.75 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, March 5th. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research report on Tuesday, January 6th. Morgan Stanley assumed coverage on STAAR Surgical in a report on Friday, January 16th. They issued an “underweight” rating and a $13.00 target price for the company. Finally, BTIG Research reissued a “neutral” rating on shares of STAAR Surgical in a research report on Tuesday, January 6th.

Insider Activity

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. bought 336,946 shares of the stock in a transaction dated Tuesday, January 6th. The shares were acquired at an average cost of $21.62 per share, for a total transaction of $7,284,772.52. Following the completion of the transaction, the insider owned 15,356,437 shares in the company, valued at approximately $332,006,167.94. The trade was a 2.24% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 1,104,351 shares of company stock worth $21,690,426 in the last 90 days. Company insiders own 0.59% of the company’s stock.

Institutional Investors Weigh In On STAAR Surgical

Institutional investors and hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd grew its holdings in shares of STAAR Surgical by 2,605.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock worth $28,000 after buying an additional 1,016 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of STAAR Surgical by 61.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock valued at $50,000 after purchasing an additional 706 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of STAAR Surgical by 691.0% in the second quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the medical instruments supplier’s stock valued at $61,000 after purchasing an additional 3,151 shares during the period. Russell Investments Group Ltd. raised its stake in shares of STAAR Surgical by 9,928.9% during the third quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock worth $121,000 after purchasing an additional 4,468 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of STAAR Surgical by 375.0% during the second quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock worth $99,000 after purchasing an additional 4,673 shares during the last quarter. 96.70% of the stock is owned by hedge funds and other institutional investors.

STAAR Surgical Stock Performance

STAAR Surgical stock opened at $20.21 on Wednesday. The stock has a market cap of $1.00 billion, a P/E ratio of -12.40 and a beta of 1.04. The company has a fifty day simple moving average of $18.32 and a 200-day simple moving average of $22.78. STAAR Surgical has a 12-month low of $14.69 and a 12-month high of $30.81.

STAAR Surgical (NASDAQ:STAA) last posted its earnings results on Tuesday, March 3rd. The medical instruments supplier reported ($0.37) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.51). The business had revenue of $57.80 million during the quarter, compared to analysts’ expectations of $75.54 million. STAAR Surgical had a negative net margin of 33.60% and a negative return on equity of 10.03%. STAAR Surgical’s revenue was up 18.0% compared to the same quarter last year. As a group, sell-side analysts forecast that STAAR Surgical will post -1.14 earnings per share for the current fiscal year.

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. 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.