STAAR Surgical Company Reaches New 52-Week Low Following Analyst Downgrade (STAA)
STAAR Surgical Company (NASDAQ:STAA) shares hit a new 52-week low during trading on Friday after Canaccord Genuity lowered their price target on the stock from $21.00 to $16.00, StockRatingsNetwork.com reports. The company traded as low as $10.76 and last traded at $10.80, with a volume of 750,200 shares changing hands. The stock had previously closed at $12.87.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of STAAR Surgical Company from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 1st. They now have a $17.20 price target on the stock.
The stock has a 50-day moving average of $14.32 and a 200-day moving average of $15.77. The company’s market cap is $416.9 million.
STAAR Surgical Company (NASDAQ:STAA) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.01 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.03 by $0.02. The company had revenue of $20.05 million for the quarter, compared to the consensus estimate of $19.80 million. During the same quarter last year, the company posted $0.05 earnings per share. STAAR Surgical Company’s revenue was up 10.4% compared to the same quarter last year. On average, analysts predict that STAAR Surgical Company will post $0.07 earnings per share for the current fiscal year.
STAAR Surgical Company designs, develops, manufactures and sells implantable lenses for the eye. The Company is the maker of lenses used worldwide in corrective or refractive surgery.
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