STAAR Surgical (NASDAQ:STAA) Earns “Hold” Rating from Needham & Company LLC

STAAR Surgical (NASDAQ:STAA)‘s stock had its “hold” rating restated by equities researchers at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports.

STAA has been the topic of several other research reports. Stifel Nicolaus reduced their price objective 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 price target on shares of STAAR Surgical from $46.00 to $53.00 and gave the stock 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 price objective for the company from $50.00 to $37.00 in a research report on Monday, July 15th. Finally, Canaccord Genuity Group reduced their target price on STAAR Surgical from $43.00 to $41.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, STAAR Surgical presently has a consensus rating of “Hold” and an average price target of $44.14.

STAAR Surgical Price Performance

Shares of NASDAQ STAA opened at $28.56 on Thursday. The company’s 50 day simple moving average is $31.86 and its 200 day simple moving average is $38.57. STAAR Surgical has a fifty-two week low of $26.66 and a fifty-two week high of $52.68. The firm has a market capitalization of $1.41 billion, a P/E ratio of 64.91 and a beta of 0.61.

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). STAAR Surgical had a return on equity of 6.77% and a net margin of 6.38%. The company had revenue of $99.01 million for the quarter, compared to analyst estimates of $95.22 million. During the same period last year, the firm earned $0.23 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. Sell-side analysts expect that STAAR Surgical will post 0.16 EPS for the current fiscal year.

Insider Transactions at STAAR Surgical

In other STAAR Surgical news, Director Arthur C. Butcher acquired 1,315 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $37.99 per share, with a total value of $49,956.85. Following the completion of the transaction, the director now directly owns 4,208 shares in the company, valued at $159,861.92. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Trading of STAAR Surgical

A number of hedge funds and other institutional investors have recently modified their holdings of STAA. Granite Investment Partners LLC bought a new position in STAAR Surgical in the second quarter valued at approximately $17,237,000. Yunqi Capital Ltd grew its stake 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 valued at $19,726,000 after buying an additional 318,600 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in STAAR Surgical by 50.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 592,621 shares of the medical instruments supplier’s stock worth $28,215,000 after buying an additional 197,717 shares during the last quarter. Dimensional Fund Advisors LP raised its position in STAAR Surgical by 25.9% during the second quarter. Dimensional Fund Advisors LP now owns 459,655 shares of the medical instruments supplier’s stock worth $21,884,000 after acquiring an additional 94,422 shares in the last quarter. Finally, Roubaix Capital LLC acquired a new stake in STAAR Surgical in the second quarter valued at $4,293,000. Institutional investors and hedge funds own 96.70% of the company’s stock.

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.