STAAR Surgical (NASDAQ:STAA) Price Target Lowered to $52.00 at Needham & Company LLC

STAAR Surgical (NASDAQ:STAA) had its target price reduced by research analysts at Needham & Company LLC from $54.00 to $52.00 in a research note issued on Friday, FlyOnTheWall reports. Needham & Company LLC’s price objective would suggest a potential upside of 21.30% from the stock’s current price.

A number of other equities research analysts have also issued reports on the company. Piper Sandler cut their target price on STAAR Surgical from $50.00 to $45.00 in a research report on Friday. Stifel Nicolaus reissued a “hold” rating and set a $45.00 price target on shares of STAAR Surgical in a research report on Wednesday. Canaccord Genuity Group reissued a “hold” rating and set a $48.00 price target (down from $77.00) on shares of STAAR Surgical in a research report on Thursday, August 3rd. Mizuho reissued a “buy” rating and set a $65.00 price target on shares of STAAR Surgical in a research report on Wednesday. Finally, Benchmark lowered STAAR Surgical from a “buy” rating to a “hold” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $59.00.

STAAR Surgical Stock Down 2.4 %

Shares of STAAR Surgical stock opened at $42.87 on Friday. The stock’s fifty day moving average is $47.83 and its 200-day moving average is $55.99. The firm has a market capitalization of $2.08 billion, a PE ratio of 85.74 and a beta of 1.09. STAAR Surgical has a 12-month low of $40.50 and a 12-month high of $96.43.

STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Wednesday, August 2nd. The medical instruments supplier reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. The company had revenue of $92.31 million for the quarter, compared to analyst estimates of $93.04 million. STAAR Surgical had a return on equity of 8.37% and a net margin of 8.14%. Analysts expect that STAAR Surgical will post 0.52 EPS for the current year.

Insider Transactions at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. purchased 20,144 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was bought at an average price of $41.87 per share, for a total transaction of $843,429.28. Following the purchase, the insider now owns 8,803,226 shares in the company, valued at approximately $368,591,072.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other STAAR Surgical news, Director Aimee S. Weisner bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was purchased at an average price of $48.72 per share, for a total transaction of $97,440.00. Following the purchase, the director now directly owns 5,417 shares in the company, valued at $263,916.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Broadwood Partners, L.P. bought 20,144 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were acquired at an average price of $41.87 per share, with a total value of $843,429.28. Following the purchase, the insider now owns 8,803,226 shares in the company, valued at $368,591,072.62. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 83,018 shares of company stock worth $3,452,531. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of STAAR Surgical

Several hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. raised its holdings in STAAR Surgical by 42.1% in the 4th quarter. Assetmark Inc. now owns 645 shares of the medical instruments supplier’s stock valued at $31,000 after acquiring an additional 191 shares in the last quarter. Evermay Wealth Management LLC raised its holdings in shares of STAAR Surgical by 100.0% in the 1st quarter. Evermay Wealth Management LLC now owns 600 shares of the medical instruments supplier’s stock worth $38,000 after buying an additional 300 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of STAAR Surgical by 131.1% in the 1st quarter. Lazard Asset Management LLC now owns 684 shares of the medical instruments supplier’s stock worth $54,000 after buying an additional 388 shares in the last quarter. UBS Group AG raised its holdings in shares of STAAR Surgical by 130.7% in the 2nd quarter. UBS Group AG now owns 805 shares of the medical instruments supplier’s stock worth $57,000 after buying an additional 456 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of STAAR Surgical by 348.4% in the 2nd quarter. Captrust Financial Advisors now owns 825 shares of the medical instruments supplier’s stock worth $59,000 after buying an additional 641 shares in the last quarter. Institutional investors 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 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.