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

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

A number of other equities research analysts also recently weighed in 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 note on Monday, August 26th. BTIG Research lifted their target price on shares of STAAR Surgical from $46.00 to $53.00 and gave the company a buy rating in a research report on Monday, July 15th. Morgan Stanley cut shares of STAAR Surgical from an equal weight rating to an underweight rating and lowered their target price for the company from $50.00 to $37.00 in a research note on Monday, July 15th. Finally, Canaccord Genuity Group cut their price target on shares of STAAR Surgical from $43.00 to $41.00 and set a hold rating for the company in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $45.57.

STAAR Surgical Stock Down 3.8 %

STAA stock opened at $30.39 on Thursday. STAAR Surgical has a twelve month low of $26.66 and a twelve month high of $52.68. The company has a market cap of $1.49 billion, a PE ratio of 98.03 and a beta of 0.58. The business’s 50-day simple moving average is $36.26 and its 200 day simple moving average is $40.43.

STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings data on Wednesday, August 7th. The medical instruments supplier reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). The firm had revenue of $99.01 million during the quarter, compared to the consensus estimate of $95.22 million. STAAR Surgical had a return on equity of 5.60% and a net margin of 4.99%. STAAR Surgical’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 EPS. On average, equities research analysts anticipate that STAAR Surgical will post 0.17 EPS for the current year.

Insider Buying and Selling

In other news, Director Arthur C. Butcher purchased 1,315 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $37.99 per share, with a total value of $49,956.85. Following the acquisition, the director now directly owns 4,208 shares of the company’s stock, valued at approximately $159,861.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On STAAR Surgical

Hedge funds and other institutional investors have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC acquired a new position in STAAR Surgical in the first quarter worth $2,731,000. Broadwood Capital Inc. lifted its position in STAAR Surgical by 13.7% during the 4th quarter. Broadwood Capital Inc. now owns 10,537,835 shares of the medical instruments supplier’s stock worth $328,886,000 after buying an additional 1,273,408 shares in the last quarter. Seven Eight Capital LP grew its holdings in STAAR Surgical by 47.0% during the 4th quarter. Seven Eight Capital LP now owns 67,885 shares of the medical instruments supplier’s stock worth $2,119,000 after acquiring an additional 21,718 shares during the last quarter. Russell Investments Group Ltd. increased its position in STAAR Surgical by 1.5% in the 1st quarter. Russell Investments Group Ltd. now owns 36,931 shares of the medical instruments supplier’s stock valued at $1,406,000 after acquiring an additional 555 shares in the last quarter. Finally, Caxton Associates LP bought a new position in shares of STAAR Surgical in the fourth quarter worth about $1,948,000. 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.