STAAR Surgical (STAA) Upgraded to “Buy” at BidaskClub

BidaskClub upgraded shares of STAAR Surgical (NASDAQ:STAA) from a hold rating to a buy rating in a report published on Friday.

Separately, Zacks Investment Research lowered STAAR Surgical from a hold rating to a sell rating in a research note on Wednesday, March 14th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $17.67.

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Shares of STAAR Surgical (STAA) opened at $15.55 on Friday. The company has a quick ratio of 2.13, a current ratio of 2.82 and a debt-to-equity ratio of 0.01. STAAR Surgical has a 52 week low of $8.95 and a 52 week high of $17.60. The stock has a market capitalization of $644.05, a PE ratio of -388.75 and a beta of 1.22.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). STAAR Surgical had a negative return on equity of 2.28% and a negative net margin of 2.36%. The business had revenue of $24.85 million during the quarter. equities analysts predict that STAAR Surgical will post 0.1 earnings per share for the current year.

In other news, insider Samuel J. Gesten sold 2,833 shares of STAAR Surgical stock in a transaction dated Thursday, March 22nd. The stock was sold at an average price of $16.05, for a total value of $45,469.65. Following the transaction, the insider now directly owns 38,316 shares of the company’s stock, valued at approximately $614,971.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Keith Holliday sold 2,188 shares of STAAR Surgical stock in a transaction dated Thursday, March 22nd. The shares were sold at an average price of $16.03, for a total value of $35,073.64. Following the completion of the transaction, the chief technology officer now directly owns 43,781 shares in the company, valued at $701,809.43. The disclosure for this sale can be found here. Insiders sold a total of 13,479 shares of company stock worth $216,561 over the last ninety days. Corporate insiders own 5.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. acquired a new position in shares of STAAR Surgical in the 3rd quarter valued at about $138,000. Citadel Advisors LLC acquired a new position in shares of STAAR Surgical in the 3rd quarter valued at about $172,000. Macquarie Group Ltd. lifted its stake in shares of STAAR Surgical by 138.2% in the 4th quarter. Macquarie Group Ltd. now owns 17,630 shares of the medical instruments supplier’s stock valued at $273,000 after purchasing an additional 10,230 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of STAAR Surgical in the 4th quarter valued at about $292,000. Finally, MetLife Investment Advisors LLC acquired a new position in shares of STAAR Surgical in the 4th quarter valued at about $301,000. 78.95% of the stock is currently owned by institutional investors and hedge funds.

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About STAAR Surgical

STAAR Surgical Company designs, develops, manufactures and sells implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. It operates in the ophthalmic surgical market segment. Its principal products are intraocular lenses used in cataract surgery and implantable collamer lenses used in refractive surgery.

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