Mizuho Boosts STAAR Surgical (NASDAQ:STAA) Price Target to $55.00

STAAR Surgical (NASDAQ:STAA) had its target price increased by analysts at Mizuho from $53.00 to $55.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. Mizuho’s target price suggests a potential upside of 27.14% from the company’s previous close.

STAA has been the topic of several other reports. William Blair raised STAAR Surgical from a “market perform” rating to an “outperform” rating in a research report on Thursday, April 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a report on Thursday, April 4th. Stifel Nicolaus reissued 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 price target on shares of STAAR Surgical from $32.00 to $46.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Finally, Piper Sandler reduced their price objective on STAAR Surgical from $40.00 to $33.00 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $47.13.

STAAR Surgical Price Performance

Shares of STAA opened at $43.26 on Wednesday. The stock has a market capitalization of $2.13 billion, a PE ratio of 99.67 and a beta of 0.80. The business’s fifty day moving average price is $42.37 and its 200 day moving average price is $35.92. STAAR Surgical has a 12-month low of $26.66 and a 12-month high of $67.36.

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

Insider Activity

In related news, Director Aimee S. Weisner purchased 1,750 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $38.11 per share, for a total transaction of $66,692.50. Following the transaction, the director now directly 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 is accessible through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of STAAR Surgical

Several large investors have recently added to or reduced their stakes in the company. Yunqi Capital Ltd boosted its position in shares of STAAR Surgical by 162.0% in the first quarter. Yunqi Capital Ltd now owns 515,300 shares of the medical instruments supplier’s stock worth $19,726,000 after buying an additional 318,600 shares during the period. State Board of Administration of Florida Retirement System grew its stake in STAAR Surgical by 11.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 15,441 shares of the medical instruments supplier’s stock valued at $591,000 after acquiring an additional 1,560 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of STAAR Surgical by 8.4% in the 1st quarter. ProShare Advisors LLC now owns 9,892 shares of the medical instruments supplier’s stock valued at $379,000 after purchasing an additional 763 shares during the period. Russell Investments Group Ltd. lifted its position in shares of STAAR Surgical by 1.5% in the first quarter. Russell Investments Group Ltd. now owns 36,931 shares of the medical instruments supplier’s stock worth $1,406,000 after purchasing an additional 555 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of STAAR Surgical during the first quarter worth approximately $2,731,000. 96.70% of the stock is owned by institutional investors and hedge funds.

STAAR Surgical Company Profile

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.