STAAR Surgical (NASDAQ:STAA) Receives Consensus Rating of “Hold” from Analysts

Shares of STAAR Surgical (NASDAQ:STAA) have been assigned an average recommendation of “Hold” from the eleven research firms that are covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $47.00.

A number of research analysts recently weighed in on STAA shares. Mizuho raised their price objective on STAAR Surgical from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research note on Wednesday, May 8th. Piper Sandler increased their target price on STAAR Surgical from $33.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Canaccord Genuity Group cut their target price on STAAR Surgical from $46.00 to $43.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. Finally, BTIG Research upgraded STAAR Surgical from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Tuesday, June 11th.

STAAR Surgical Price Performance

Shares of STAA stock opened at $41.23 on Thursday. STAAR Surgical has a 1-year low of $26.66 and a 1-year high of $58.82. The business has a 50-day moving average of $43.68 and a 200 day moving average of $37.01. The stock has a market capitalization of $2.03 billion, a PE ratio of 133.00 and a beta of 0.65.

STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings data on Tuesday, May 7th. The medical instruments supplier reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.12). STAAR Surgical had a return on equity of 6.83% and a net margin of 4.69%. The business had revenue of $77.40 million during the quarter, compared to analysts’ expectations of $75.34 million. During the same quarter last year, the business posted $0.05 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts anticipate that STAAR Surgical will post 0.09 EPS for the current year.

Institutional Investors Weigh In On STAAR Surgical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Broadwood Capital Inc. grew its stake in STAAR Surgical by 13.7% in the fourth quarter. Broadwood Capital Inc. now owns 10,537,835 shares of the medical instruments supplier’s stock worth $328,886,000 after purchasing an additional 1,273,408 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of STAAR Surgical by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,468,710 shares of the medical instruments supplier’s stock valued at $170,678,000 after purchasing an additional 43,083 shares during the last quarter. Defender Capital LLC. lifted its holdings in shares of STAAR Surgical by 1.1% during the 1st quarter. Defender Capital LLC. now owns 730,387 shares of the medical instruments supplier’s stock valued at $27,959,000 after purchasing an additional 7,855 shares during the last quarter. Yunqi Capital Ltd lifted its holdings in shares of STAAR Surgical by 162.0% during the 1st quarter. Yunqi Capital Ltd now owns 515,300 shares of the medical instruments supplier’s stock valued at $19,726,000 after purchasing an additional 318,600 shares during the last quarter. Finally, Norges Bank purchased a new position in STAAR Surgical in the 4th quarter worth $13,615,000. 96.70% of the stock is currently owned by hedge funds and other 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.