STAAR Surgical (NASDAQ:STAA) Price Target Raised to $55.00 at Mizuho

STAAR Surgical (NASDAQ:STAA) had its price objective hoisted by Mizuho from $53.00 to $55.00 in a report issued on Wednesday morning, Benzinga reports. Mizuho currently has a buy rating on the medical instruments supplier’s stock.

A number of other analysts have also weighed in on STAA. William Blair upgraded shares of STAAR Surgical from a market perform rating to an outperform rating in a research note on Thursday, April 4th. Canaccord Genuity Group boosted their price objective on STAAR Surgical from $32.00 to $46.00 and gave the stock a hold rating in a research note on Monday, April 8th. Piper Sandler cut their price target on shares of STAAR Surgical from $40.00 to $33.00 and set a neutral rating for the company in a report on Tuesday, February 27th. Needham & Company LLC reiterated a hold rating on shares of STAAR Surgical in a research report on Thursday, April 4th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $50.00 price objective on shares of STAAR Surgical in a report on Monday, April 1st. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $47.13.

STAAR Surgical Stock Performance

NASDAQ:STAA opened at $41.02 on Wednesday. STAAR Surgical has a fifty-two week low of $26.66 and a fifty-two week high of $68.27. The stock has a market capitalization of $2.02 billion, a P/E ratio of 95.40 and a beta of 0.80. The company’s 50-day simple moving average is $42.13 and its 200-day simple moving average is $35.87.

STAAR Surgical (NASDAQ:STAA) last released its earnings results on Tuesday, May 7th. The medical instruments supplier reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). The company had revenue of $77.40 million during the quarter, compared to analyst estimates of $75.34 million. STAAR Surgical had a return on equity of 8.73% and a net margin of 6.62%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $0.05 earnings per share. On average, research analysts forecast that STAAR Surgical will post 0.03 EPS for the current year.

Insider Activity

In other STAAR Surgical news, Director Aimee S. Weisner bought 1,750 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $38.11 per share, for a total transaction of $66,692.50. Following the completion of the purchase, the director now directly owns 10,864 shares in the company, valued at $414,027.04. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.00% of the company’s stock.

Institutional Trading of STAAR Surgical

Several institutional investors have recently modified their holdings of the stock. Handelsbanken Fonder AB lifted its position in STAAR Surgical by 18.0% in the fourth quarter. Handelsbanken Fonder AB now owns 10,500 shares of the medical instruments supplier’s stock valued at $328,000 after acquiring an additional 1,600 shares during the last quarter. Defender Capital LLC. increased its position in STAAR Surgical by 33.0% during the fourth quarter. Defender Capital LLC. now owns 722,532 shares of the medical instruments supplier’s stock worth $22,550,000 after buying an additional 179,135 shares during the period. Seven Eight Capital LP lifted its stake in STAAR Surgical by 369.2% in the third quarter. Seven Eight Capital LP now owns 46,167 shares of the medical instruments supplier’s stock valued at $1,855,000 after buying an additional 36,327 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of STAAR Surgical by 121.6% in the third quarter. Invesco Ltd. now owns 165,661 shares of the medical instruments supplier’s stock valued at $6,656,000 after acquiring an additional 90,896 shares during the period. Finally, Citigroup Inc. grew its position in shares of STAAR Surgical by 14.5% during the third quarter. Citigroup Inc. now owns 19,163 shares of the medical instruments supplier’s stock worth $770,000 after acquiring an additional 2,434 shares during the last quarter. Hedge funds and other institutional investors own 96.70% of the company’s stock.

About STAAR Surgical

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.