STAAR Surgical (NASDAQ:STAA) Given Consensus Rating of “Hold” by Brokerages

Shares of STAAR Surgical (NASDAQ:STAA) have earned a consensus rating of “Hold” from the eleven research firms that are covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $47.00.

Several research analysts recently issued reports on STAA shares. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research report 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 for the company in a research report on Wednesday, May 8th. BTIG Research raised 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. Mizuho increased their price objective on STAAR Surgical from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $50.00 target price on shares of STAAR Surgical in a research note on Monday, April 1st.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in STAA. Virtu Financial LLC acquired a new stake in STAAR Surgical in the 1st quarter valued at about $289,000. Price T Rowe Associates Inc. MD lifted its holdings in STAAR Surgical by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,310 shares of the medical instruments supplier’s stock worth $1,161,000 after buying an additional 1,813 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in STAAR Surgical by 3.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 51,057 shares of the medical instruments supplier’s stock valued at $1,952,000 after buying an additional 1,590 shares during the last quarter. Covestor Ltd increased its stake in shares of STAAR Surgical by 38.9% in the 1st 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 during the period. Finally, Yunqi Capital Ltd raised its position in shares of STAAR Surgical by 162.0% during the first quarter. Yunqi Capital Ltd now owns 515,300 shares of the medical instruments supplier’s stock worth $19,726,000 after acquiring an additional 318,600 shares during the last quarter. 96.70% of the stock is owned by institutional investors.

STAAR Surgical Trading Up 7.5 %

STAA opened at $45.51 on Thursday. The stock’s 50 day simple moving average is $42.87 and its 200-day simple moving average is $37.40. The stock has a market cap of $2.24 billion, a PE ratio of 146.81 and a beta of 0.65. STAAR Surgical has a 1 year low of $26.66 and a 1 year high of $58.82.

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 the consensus estimate of $0.05 by ($0.12). STAAR Surgical had a net margin of 4.69% and a return on equity of 6.83%. The business had revenue of $77.40 million during the quarter, compared to the consensus estimate of $75.34 million. During the same period last year, the firm earned $0.05 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts forecast that STAAR Surgical will post 0.08 earnings per share for the current fiscal year.

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.