STAAR Surgical (NASDAQ:STAA) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of STAAR Surgical (NASDAQ:STAA) from a buy rating to a hold rating in a research report report published on Saturday morning.

Several other research analysts also recently weighed in on STAA. Wedbush reaffirmed an “outperform” rating and set a $40.00 target price on shares of STAAR Surgical in a research note on Wednesday, July 22nd. Wells Fargo & Company lifted their price target on shares of STAAR Surgical from $16.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, May 15th. Stifel Nicolaus boosted their price target on shares of STAAR Surgical from $18.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, May 14th. Mizuho upped their price objective on shares of STAAR Surgical from $22.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings raised shares of STAAR Surgical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 25th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.94.

STAAR Surgical Price Performance

Shares of STAAR Surgical stock opened at $24.36 on Friday. The firm has a market cap of $1.21 billion, a PE ratio of -56.65 and a beta of 1.23. STAAR Surgical has a twelve month low of $15.59 and a twelve month high of $35.87. The company has a quick ratio of 4.31, a current ratio of 5.12 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average price of $27.94 and a 200 day moving average price of $23.88.

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

Hedge Funds Weigh In On STAAR Surgical

Several hedge funds and other institutional investors have recently made changes to their positions in STAA. Caitong International Asset Management Co. Ltd increased its position 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 purchasing an additional 1,016 shares in the last quarter. Ascentis Independent Advisors acquired a new position in STAAR Surgical in the 1st quarter valued at $77,000. Tower Research Capital LLC TRC raised its stake in STAAR Surgical by 375.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock valued at $99,000 after purchasing an additional 4,673 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in STAAR Surgical by 9,928.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock valued at $121,000 after purchasing an additional 4,468 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in STAAR Surgical by 2,867.1% in the 1st quarter. Fifth Third Bancorp now owns 11,008 shares of the medical instruments supplier’s stock valued at $206,000 after purchasing an additional 10,637 shares in the last quarter. Hedge funds and other institutional investors 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. 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.