STAAR Surgical’s (STAA) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of STAAR Surgical (NASDAQ:STAA) in a research report released on Thursday, Benzinga reports.

Several other research firms also recently issued reports on STAA. Canaccord Genuity Group dropped their price target on shares of STAAR Surgical from $43.00 to $41.00 and set a hold rating on the stock in a research note on Thursday. Piper Sandler increased their price target on shares of STAAR Surgical from $33.00 to $40.00 and gave the stock a neutral rating in a research report on Wednesday, May 8th. BTIG Research increased their target price on STAAR Surgical from $46.00 to $53.00 and gave the stock a buy rating in a report on Monday, July 15th. Mizuho boosted their price target on STAAR Surgical from $53.00 to $55.00 and gave the company a buy rating in a report on Wednesday, May 8th. Finally, Morgan Stanley lowered STAAR Surgical from an equal weight rating to an underweight rating and dropped their price target for the company from $50.00 to $37.00 in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $47.75.

STAAR Surgical Stock Down 4.9 %

Shares of NASDAQ STAA traded down $1.98 on Thursday, hitting $38.38. The company had a trading volume of 1,231,180 shares, compared to its average volume of 703,919. The firm has a market capitalization of $1.89 billion, a P/E ratio of 123.81 and a beta of 0.59. STAAR Surgical has a 12-month low of $26.66 and a 12-month high of $52.68. The business has a 50 day moving average of $41.94 and a two-hundred day moving average of $39.83.

STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings results on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). The company had revenue of $99.01 million during the quarter, compared to analysts’ expectations of $95.22 million. STAAR Surgical had a return on equity of 6.83% and a net margin of 4.69%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 EPS. On average, sell-side analysts anticipate that STAAR Surgical will post 0.08 earnings per share for the current year.

Institutional Trading of STAAR Surgical

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Broadwood Capital Inc. lifted its holdings in shares of 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 valued at $328,886,000 after buying an additional 1,273,408 shares during the period. Norges Bank acquired a new position in shares of STAAR Surgical in the 4th quarter worth approximately $13,615,000. Yunqi Capital Ltd raised its holdings in shares of STAAR Surgical by 162.0% in the 1st quarter. Yunqi Capital Ltd now owns 515,300 shares of the medical instruments supplier’s stock worth $19,726,000 after purchasing an additional 318,600 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in STAAR Surgical by 296.0% during the fourth quarter. BNP Paribas Financial Markets now owns 281,547 shares of the medical instruments supplier’s stock valued at $8,787,000 after purchasing an additional 210,443 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in STAAR Surgical during the first quarter worth approximately $7,833,000. 96.70% of the stock is currently owned by institutional investors.

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.