STAAR Surgical (NASDAQ:STAA) Issues Earnings Results

STAAR Surgical (NASDAQ:STAA) posted its quarterly earnings results on Tuesday. The medical instruments supplier reported ($0.37) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.51), FiscalAI reports. STAAR Surgical had a negative net margin of 41.79% and a negative return on equity of 16.06%. The business had revenue of $57.80 million during the quarter, compared to analysts’ expectations of $75.54 million.

STAAR Surgical Price Performance

NASDAQ STAA traded down $0.13 on Tuesday, reaching $18.92. The company had a trading volume of 957,938 shares, compared to its average volume of 1,610,156. STAAR Surgical has a 1 year low of $14.69 and a 1 year high of $30.81. The firm has a 50-day moving average of $20.07 and a 200-day moving average of $24.26. The firm has a market capitalization of $941.12 million, a PE ratio of -9.70 and a beta of 1.06.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on STAA shares. BTIG Research restated a “neutral” rating on shares of STAAR Surgical in a report on Tuesday, January 6th. Jefferies Financial Group decreased their price target on shares of STAAR Surgical from $28.00 to $21.50 and set a “buy” rating on the stock in a report on Wednesday, January 28th. Canaccord Genuity Group lowered their price objective on shares of STAAR Surgical from $30.75 to $22.00 and set a “hold” rating for the company in a research note on Thursday, January 15th. Weiss Ratings restated a “sell (d)” rating on shares of STAAR Surgical in a report on Thursday, January 22nd. Finally, Stifel Nicolaus cut their target price on STAAR Surgical from $28.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, February 9th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, STAAR Surgical currently has a consensus rating of “Reduce” and an average price target of $20.91.

Insider Transactions at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. bought 27,485 shares of the business’s stock in a transaction on Friday, January 9th. The shares were bought at an average cost of $22.05 per share, with a total value of $606,044.25. Following the transaction, the insider directly owned 15,453,629 shares in the company, valued at approximately $340,752,519.45. This trade represents a 0.18% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders purchased 434,138 shares of company stock worth $9,424,176. 0.59% of the stock is owned by insiders.

Institutional Trading of STAAR Surgical

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its stake in STAAR Surgical by 2,605.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock valued at $28,000 after acquiring an additional 1,016 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of 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 in the last quarter. Russell Investments Group Ltd. lifted its position in shares of STAAR Surgical by 9,928.9% during the third quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock worth $121,000 after purchasing an additional 4,468 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in STAAR Surgical in the third quarter worth about $208,000. Finally, Amundi bought a new stake in STAAR Surgical in the third quarter valued at about $251,000. 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.