STAAR Surgical (NASDAQ:STAA) Receives $45.57 Consensus Price Target from Analysts

Shares of STAAR Surgical (NASDAQ:STAA) have been given an average rating of “Hold” by the eight brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $45.57.

A number of research firms recently issued reports on STAA. Canaccord Genuity Group decreased their target price on shares of STAAR Surgical from $43.00 to $41.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. BTIG Research boosted their target price on shares of STAAR Surgical from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research report on Thursday, September 19th. Morgan Stanley downgraded shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $50.00 to $37.00 in a research report on Monday, July 15th. Finally, Stifel Nicolaus decreased their target price on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, August 26th.

STAAR Surgical Trading Down 0.6 %

NASDAQ STAA opened at $35.68 on Friday. The firm’s fifty day simple moving average is $34.79 and its two-hundred day simple moving average is $40.26. STAAR Surgical has a 12-month low of $26.66 and a 12-month high of $52.68. The firm has a market capitalization of $1.75 billion, a P/E ratio of 115.10 and a beta of 0.59.

STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings data on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). The company had revenue of $99.01 million for the quarter, compared to analysts’ expectations of $95.22 million. STAAR Surgical had a net margin of 4.99% and a return on equity of 5.60%. STAAR Surgical’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $0.23 earnings per share. As a group, sell-side analysts predict that STAAR Surgical will post 0.17 earnings per share for the current fiscal year.

Insider Transactions at STAAR Surgical

In related news, Director Arthur C. Butcher acquired 1,315 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $37.99 per share, for a total transaction of $49,956.85. Following the acquisition, the director now owns 4,208 shares in the company, valued at approximately $159,861.92. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On STAAR Surgical

A number of hedge funds have recently added to or reduced their stakes in STAA. Susquehanna Fundamental Investments LLC acquired a new stake in shares of STAAR Surgical in the 1st quarter valued at $2,731,000. Broadwood Capital Inc. grew its position in shares of STAAR Surgical by 13.7% in the 4th quarter. Broadwood Capital Inc. now owns 10,537,835 shares of the medical instruments supplier’s stock valued at $328,886,000 after buying an additional 1,273,408 shares during the last quarter. Mutual of America Capital Management LLC grew its position in shares of STAAR Surgical by 214.7% in the 2nd quarter. Mutual of America Capital Management LLC now owns 26,459 shares of the medical instruments supplier’s stock valued at $1,260,000 after buying an additional 18,051 shares during the last quarter. Seven Eight Capital LP grew its position in shares of STAAR Surgical by 47.0% in the 4th quarter. Seven Eight Capital LP now owns 67,885 shares of the medical instruments supplier’s stock valued at $2,119,000 after buying an additional 21,718 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of STAAR Surgical by 1.5% in the 1st quarter. Russell Investments Group Ltd. now owns 36,931 shares of the medical instruments supplier’s stock valued at $1,406,000 after buying an additional 555 shares during the last quarter. 96.70% of the stock is currently owned by institutional investors and hedge funds.

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.