STAAR Surgical (NASDAQ:STAA) Receives Consensus Rating of “Hold” from Analysts

STAAR Surgical (NASDAQ:STAA) has earned an average recommendation of “Hold” from the ten brokerages that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $47.13.

Several brokerages have issued reports on STAA. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a report on Wednesday, May 8th. William Blair upgraded STAAR Surgical from a “market perform” rating to an “outperform” rating in a report on Thursday, April 4th. Piper Sandler increased their price target on STAAR Surgical from $33.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Canaccord Genuity Group dropped their target price on STAAR Surgical from $46.00 to $43.00 and set a “hold” rating on the stock in a report on Wednesday, May 8th. Finally, Mizuho raised their target price on STAAR Surgical from $53.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 8th.

Insider Activity at STAAR Surgical

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

Institutional Trading of STAAR Surgical

A number of institutional investors and hedge funds have recently modified their holdings of the business. Clear Street Markets LLC purchased a new stake in STAAR Surgical in the third quarter worth $29,000. Cape Investment Advisory Inc. purchased a new stake in STAAR Surgical in the fourth quarter worth $42,000. GAMMA Investing LLC increased its position in STAAR Surgical by 313.9% in the first quarter. GAMMA Investing LLC now owns 1,308 shares of the medical instruments supplier’s stock worth $50,000 after buying an additional 992 shares during the last quarter. Nisa Investment Advisors LLC increased its position in STAAR Surgical by 415.8% in the third quarter. Nisa Investment Advisors LLC now owns 2,445 shares of the medical instruments supplier’s stock worth $98,000 after buying an additional 1,971 shares during the last quarter. Finally, Covestor Ltd increased its position in STAAR Surgical by 82,466.7% in the third quarter. Covestor Ltd now owns 2,477 shares of the medical instruments supplier’s stock worth $100,000 after buying an additional 2,474 shares during the last quarter. 96.70% of the stock is owned by hedge funds and other institutional investors.

STAAR Surgical Trading Down 2.4 %

Shares of STAA stock opened at $41.16 on Friday. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 132.77 and a beta of 0.80. The stock has a 50-day moving average of $43.79 and a 200-day moving average of $36.17. STAAR Surgical has a 1-year low of $26.66 and a 1-year high of $60.79.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.12). STAAR Surgical had a net margin of 4.69% and a return on equity of 6.83%. The company had revenue of $77.40 million during the quarter, compared to analyst estimates of $75.34 million. During the same period in the previous year, the company posted $0.05 EPS. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts forecast that STAAR Surgical will post 0.08 earnings per share for the current year.

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.