STAAR Surgical (NASDAQ:STAA) Receives Consensus Rating of “Buy” from Brokerages

STAAR Surgical (NASDAQ:STAA – Get Rating) has received an average rating of “Buy” from the nine analysts that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $95.14.

STAA has been the subject of several analyst reports. StockNews.com started coverage on shares of STAAR Surgical in a research report on Thursday, March 31st. They set a “hold” rating for the company. Canaccord Genuity Group lifted their target price on shares of STAAR Surgical from $81.00 to $89.00 and gave the stock a “buy” rating in a report on Tuesday, April 26th. Benchmark upgraded STAAR Surgical from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a research report on Monday, March 28th. BTIG Research reaffirmed a “buy” rating and set a $98.00 price objective on shares of STAAR Surgical in a research note on Saturday, April 23rd. Finally, Canaccord Genuity Group raised their target price on STAAR Surgical from $81.00 to $89.00 and gave the stock a “buy” rating in a report on Tuesday, April 26th.

In other news, VP James E. Francese sold 922 shares of the stock in a transaction on Monday, March 21st. The shares were sold at an average price of $74.62, for a total transaction of $68,799.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Caren L. Mason sold 35,000 shares of the stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $57.49, for a total transaction of $2,012,150.00. Following the sale, the chief executive officer now directly owns 83,645 shares of the company’s stock, valued at approximately $4,808,751.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,211 shares of company stock worth $2,099,498. 3.60% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Quantum Private Wealth LLC grew its position in STAAR Surgical by 3.0% in the first quarter. Quantum Private Wealth LLC now owns 5,769 shares of the medical instruments supplier’s stock valued at $461,000 after purchasing an additional 168 shares in the last quarter. Rice Hall James & Associates LLC bought a new position in STAAR Surgical in the first quarter valued at $2,717,000. BNP Paribas Arbitrage SA grew its position in shares of STAAR Surgical by 91.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 56,883 shares of the medical instruments supplier’s stock valued at $4,546,000 after acquiring an additional 27,226 shares during the period. Weiss Multi Strategy Advisers LLC grew its position in shares of STAAR Surgical by 24.6% in the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 10,000 shares of the medical instruments supplier’s stock valued at $799,000 after acquiring an additional 1,976 shares during the period. Finally, Portolan Capital Management LLC bought a new position in shares of STAAR Surgical in the 1st quarter valued at about $8,934,000. 89.93% of the stock is owned by institutional investors and hedge funds.

Shares of STAAR Surgical stock opened at $65.94 on Wednesday. The firm has a 50 day simple moving average of $64.77 and a 200 day simple moving average of $76.36. STAAR Surgical has a fifty-two week low of $49.03 and a fifty-two week high of $163.08. The firm has a market cap of $3.15 billion, a P/E ratio of 113.69 and a beta of 1.18.

STAAR Surgical (NASDAQ:STAA – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The medical instruments supplier reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.11. STAAR Surgical had a return on equity of 12.78% and a net margin of 11.98%. The firm had revenue of $63.20 million for the quarter, compared to analyst estimates of $60.53 million. During the same period last year, the company earned $0.13 EPS. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. Equities analysts anticipate that STAAR Surgical will post 0.62 earnings per share for the current fiscal year.

About STAAR Surgical (Get Rating)

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 Visian implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness.

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