STAAR Surgical Company (NASDAQ:STAA) Receives Average Recommendation of “Hold” from Brokerages

STAAR Surgical Company (NASDAQ:STAA) has earned an average rating of “Hold” from the eleven analysts that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $27.8125.

A number of equities research analysts have recently commented on STAA shares. Mizuho increased their price target on shares of STAAR Surgical from $22.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Stifel Nicolaus upped their price objective on STAAR Surgical from $18.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, May 14th. Weiss Ratings upgraded STAAR Surgical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 25th. Wells Fargo & Company lifted their target price on STAAR Surgical from $16.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, May 15th. Finally, Canaccord Genuity Group boosted their price target on STAAR Surgical from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th.

STAAR Surgical Price Performance

STAA opened at $27.34 on Friday. The firm has a market cap of $1.36 billion, a PE ratio of -63.58 and a beta of 1.23. The stock has a 50-day moving average price of $29.38 and a 200-day moving average price of $23.72. 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.

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

Institutional Investors Weigh In On STAAR Surgical

Several large investors have recently bought and sold shares of the business. Defender Capital LLC. purchased a new position in shares of STAAR Surgical in the 4th quarter worth $15,429,000. Polar Asset Management Partners Inc. bought a new position in STAAR Surgical in the third quarter valued at about $3,359,000. Yunqi Capital Ltd lifted its holdings in STAAR Surgical by 3.7% in the third quarter. Yunqi Capital Ltd now owns 2,500,061 shares of the medical instruments supplier’s stock valued at $67,177,000 after acquiring an additional 88,773 shares during the period. Slotnik Capital LLC purchased a new position in STAAR Surgical in the third quarter worth about $17,062,000. Finally, Vestcor Inc purchased a new position in STAAR Surgical in the third quarter worth about $2,326,000. 96.70% of the stock is currently owned by institutional investors.

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.