STAAR Surgical (NASDAQ:STAA) Price Target Raised to $40.00 at Piper Sandler

STAAR Surgical (NASDAQ:STAA) had its price objective raised by Piper Sandler from $33.00 to $40.00 in a report released on Wednesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the medical instruments supplier’s stock.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC restated a hold rating on shares of STAAR Surgical in a research note on Thursday, April 4th. Mizuho lifted their price objective on shares of STAAR Surgical from $53.00 to $55.00 and gave the company a buy rating in a research note on Wednesday. Stifel Nicolaus reiterated a buy rating and set a $50.00 target price on shares of STAAR Surgical in a research note on Monday, April 1st. Canaccord Genuity Group raised their target price on STAAR Surgical from $32.00 to $46.00 and gave the company a hold rating in a report on Monday, April 8th. Finally, William Blair upgraded shares of STAAR Surgical from a market perform rating to an outperform rating in a report on Thursday, April 4th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $47.13.

STAAR Surgical Price Performance

STAAR Surgical stock opened at $41.02 on Wednesday. The stock’s fifty day moving average is $42.13 and its two-hundred day moving average is $35.87. The stock has a market cap of $2.02 billion, a PE ratio of 95.40 and a beta of 0.80. STAAR Surgical has a 1-year low of $26.66 and a 1-year high of $68.27.

STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). The business had revenue of $77.40 million during the quarter, compared to analyst estimates of $75.34 million. STAAR Surgical had a net margin of 6.62% and a return on equity of 8.73%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $0.05 earnings per share. On average, research analysts expect that STAAR Surgical will post 0.03 earnings per share for the current fiscal year.

Insider Activity

In other STAAR Surgical news, Director Aimee S. Weisner bought 1,750 shares of STAAR Surgical stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $38.11 per share, for a total transaction of $66,692.50. Following the completion of the transaction, the director now owns 10,864 shares of the company’s stock, valued at approximately $414,027.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of STAA. Clear Street Markets LLC purchased a new stake in STAAR Surgical in the third quarter valued at approximately $29,000. Cape Investment Advisory Inc. acquired a new position in shares of STAAR Surgical in the 4th quarter valued at $42,000. GAMMA Investing LLC grew its stake in shares of STAAR Surgical by 313.9% during the 1st quarter. GAMMA Investing LLC now owns 1,308 shares of the medical instruments supplier’s stock valued at $50,000 after buying an additional 992 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of STAAR Surgical by 415.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,445 shares of the medical instruments supplier’s stock worth $98,000 after buying an additional 1,971 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in STAAR Surgical by 82,466.7% in the third quarter. Covestor Ltd now owns 2,477 shares of the medical instruments supplier’s stock valued at $100,000 after acquiring an additional 2,474 shares during the last quarter. 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.