STAAR Surgical Company (NASDAQ:STAA) Receives $27.81 Consensus PT from Analysts

STAAR Surgical Company (NASDAQ:STAA) has been assigned an average rating of “Hold” from the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $27.8125.

STAA has been the subject of several research analyst reports. Wall Street Zen raised shares of STAAR Surgical from a “hold” rating to a “buy” rating in a research note on Sunday, July 5th. Stifel Nicolaus increased their price objective on shares of STAAR Surgical from $18.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, May 14th. Wells Fargo & Company raised their price objective on STAAR Surgical from $16.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, May 15th. Wedbush reaffirmed an “outperform” rating and issued a $40.00 target price on shares of STAAR Surgical in a report on Thursday. Finally, Weiss Ratings upgraded STAAR Surgical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 25th.

Institutional Trading of STAAR Surgical

Hedge funds have recently modified their holdings of the company. Amundi purchased a new position in shares of STAAR Surgical in the first quarter valued at $305,000. American Capital Management Inc. raised its stake in STAAR Surgical by 18.7% during the first quarter. American Capital Management Inc. now owns 878,035 shares of the medical instruments supplier’s stock valued at $16,419,000 after purchasing an additional 138,499 shares in the last quarter. Quantinno Capital Management LP bought a new position in STAAR Surgical during the first quarter valued at $1,109,000. Renaissance Technologies LLC lifted its position in STAAR Surgical by 257.7% during the first quarter. Renaissance Technologies LLC now owns 135,200 shares of the medical instruments supplier’s stock valued at $2,528,000 after purchasing an additional 97,400 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in shares of STAAR Surgical by 33.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 20,000 shares of the medical instruments supplier’s stock worth $374,000 after buying an additional 5,000 shares in the last quarter. 96.70% of the stock is owned by hedge funds and other institutional investors.

STAAR Surgical Trading Up 1.7%

STAA stock opened at $28.98 on Friday. STAAR Surgical has a 1-year low of $15.59 and a 1-year high of $35.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.12 and a quick ratio of 4.31. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -67.39 and a beta of 1.23. The business has a 50 day simple moving average of $29.43 and a two-hundred day simple moving average of $23.80.

STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings data on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. STAAR Surgical had a negative net margin of 7.24% and a positive return on equity of 3.31%. The business had revenue of $93.52 million during the quarter, compared to analyst estimates of $78.72 million. During the same period last year, the firm posted ($1.10) EPS. The company’s revenue was up 119.6% on a year-over-year basis. Research analysts anticipate that STAAR Surgical will post 0.13 EPS for the current fiscal year.

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.