STAAR Surgical (NASDAQ:STAA) Receives $45.57 Average PT from Analysts

STAAR Surgical (NASDAQ:STAA) has been assigned a consensus recommendation of “Hold” from the eight research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $45.57.

Several research analysts have issued reports on the stock. Stifel Nicolaus decreased their price target on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Morgan Stanley lowered shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $50.00 to $37.00 in a research note on Monday, July 15th. Canaccord Genuity Group lowered their price target on STAAR Surgical from $43.00 to $41.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. BTIG Research upped their price objective on shares of STAAR Surgical from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a report on Thursday, September 19th.

Insider Activity at STAAR Surgical

In other news, Director Arthur C. Butcher bought 1,315 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $37.99 per share, for a total transaction of $49,956.85. Following the completion of the purchase, the director now owns 4,208 shares of the company’s stock, valued at approximately $159,861.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On STAAR Surgical

A number of institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in shares of STAAR Surgical by 313.9% in the 1st quarter. GAMMA Investing LLC now owns 1,308 shares of the medical instruments supplier’s stock valued at $50,000 after purchasing an additional 992 shares in the last quarter. Covestor Ltd boosted its position in STAAR Surgical by 38.9% in the first quarter. Covestor Ltd now owns 2,690 shares of the medical instruments supplier’s stock valued at $103,000 after buying an additional 754 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in STAAR Surgical during the second quarter worth about $129,000. Larson Financial Group LLC bought a new stake in STAAR Surgical during the second quarter worth about $130,000. Finally, Truist Financial Corp acquired a new stake in shares of STAAR Surgical during the second quarter worth approximately $268,000. 96.70% of the stock is owned by institutional investors and hedge funds.

STAAR Surgical Trading Down 0.2 %

Shares of STAAR Surgical stock opened at $37.15 on Friday. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 119.84 and a beta of 0.58. The business’s 50 day simple moving average is $35.02 and its 200-day simple moving average is $40.31. STAAR Surgical has a twelve month low of $26.66 and a twelve month high of $52.68.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings results on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). STAAR Surgical had a net margin of 4.99% and a return on equity of 5.60%. The firm had revenue of $99.01 million for the quarter, compared to the consensus estimate of $95.22 million. During the same period in the previous year, the business posted $0.23 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts predict that STAAR Surgical will post 0.17 earnings per share for the current year.

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.