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

Shares of STAAR Surgical Company (NASDAQ:STAA) have been assigned an average recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $27.8125.

Several brokerages recently issued reports on STAA. Mizuho increased their target price 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. Stifel Nicolaus increased their target price on shares of STAAR Surgical from $18.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, May 14th. Weiss Ratings downgraded shares of STAAR Surgical from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 22nd. Piper Sandler increased their target price on shares of STAAR Surgical from $16.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, Wedbush raised shares of STAAR Surgical from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $26.00 to $40.00 in a research report on Thursday, May 14th.

STAAR Surgical Price Performance

Shares of NASDAQ:STAA opened at $32.47 on Thursday. The company has a current ratio of 5.12, a quick ratio of 4.31 and a debt-to-equity ratio of 0.09. STAAR Surgical has a 1 year low of $15.59 and a 1 year high of $35.87. The business has a fifty day simple moving average of $24.48 and a 200 day simple moving average of $22.89. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -75.51 and a beta of 1.20.

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, topping the consensus estimate 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 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 company earned ($1.10) earnings per share. STAAR Surgical’s quarterly revenue was up 119.6% compared to the same quarter last year. As a group, sell-side analysts predict that STAAR Surgical will post -0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other STAAR Surgical news, Director Broadwood Partners, L.P. bought 316,017 shares of the stock in a transaction on Friday, March 13th. The shares were purchased at an average cost of $18.61 per share, with a total value of $5,881,076.37. Following the completion of the transaction, the director directly owned 16,123,842 shares of the company’s stock, valued at $300,064,699.62. This represents a 2.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have acquired 670,213 shares of company stock worth $12,266,249 over the last 90 days. Corporate insiders own 39.90% of the company’s stock.

Institutional Investors Weigh In On STAAR Surgical

Several hedge funds and other institutional investors have recently made changes to their positions in STAA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of STAAR Surgical by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,390 shares of the medical instruments supplier’s stock valued at $518,000 after purchasing an additional 1,267 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of STAAR Surgical by 33.4% in the first quarter. Goldman Sachs Group Inc. now owns 544,843 shares of the medical instruments supplier’s stock valued at $9,606,000 after purchasing an additional 136,390 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of STAAR Surgical by 11.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,347 shares of the medical instruments supplier’s stock valued at $2,175,000 after purchasing an additional 12,841 shares during the last quarter. Creative Planning grew its position in shares of STAAR Surgical by 19.9% in the second quarter. Creative Planning now owns 15,695 shares of the medical instruments supplier’s stock valued at $263,000 after purchasing an additional 2,606 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of STAAR Surgical by 183.2% in the second quarter. JPMorgan Chase & Co. now owns 153,371 shares of the medical instruments supplier’s stock valued at $2,574,000 after purchasing an additional 99,218 shares during the last quarter. 96.70% of the stock is owned by institutional investors and hedge funds.

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.