STAAR Surgical Company (NASDAQ:STAA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Staar Surgical Company has evolved to become a developer, manufacturer and global distributor of products used by ophthalmologists and other eye care professionals to improve or correct vision in patients suffering from refractive conditions, cataracts and glaucoma. “

Shares of STAAR Surgical Company (NASDAQ STAA) traded down 3.79% during mid-day trading on Wednesday, reaching $10.15. The company had a trading volume of 10,155 shares. The firm’s 50-day moving average is $9.69 and its 200 day moving average is $10.01. STAAR Surgical Company has a 12 month low of $5.42 and a 12 month high of $11.50. The company’s market capitalization is $415.46 million.

STAAR Surgical Company (NASDAQ:STAA) last posted its quarterly earnings results on Wednesday, May 3rd. The medical instruments supplier reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). STAAR Surgical Company had a negative return on equity of 10.83% and a negative net margin of 7.53%. The business had revenue of $20.35 million during the quarter. During the same quarter in the previous year, the business posted ($0.20) EPS. On average, equities research analysts predict that STAAR Surgical Company will post ($0.15) earnings per share for the current year.

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Institutional investors have recently bought and sold shares of the company. Palo Alto Investors LLC boosted its position in STAAR Surgical Company by 2.6% in the first quarter. Palo Alto Investors LLC now owns 3,473,170 shares of the medical instruments supplier’s stock worth $34,037,000 after buying an additional 86,925 shares during the last quarter. Vanguard Group Inc. boosted its position in STAAR Surgical Company by 1.5% in the first quarter. Vanguard Group Inc. now owns 1,272,972 shares of the medical instruments supplier’s stock worth $12,475,000 after buying an additional 18,621 shares during the last quarter. State Street Corp boosted its position in STAAR Surgical Company by 6.3% in the fourth quarter. State Street Corp now owns 626,735 shares of the medical instruments supplier’s stock worth $6,800,000 after buying an additional 37,175 shares during the last quarter. Principal Financial Group Inc. boosted its position in STAAR Surgical Company by 0.9% in the first quarter. Principal Financial Group Inc. now owns 295,129 shares of the medical instruments supplier’s stock worth $2,893,000 after buying an additional 2,537 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in STAAR Surgical Company by 6.3% in the first quarter. Geode Capital Management LLC now owns 245,080 shares of the medical instruments supplier’s stock worth $2,401,000 after buying an additional 14,420 shares during the last quarter. Institutional investors and hedge funds own 75.59% of the company’s stock.

About STAAR Surgical Company

STAAR Surgical Company designs, develops, manufactures and sells implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. It operates in the ophthalmic surgical market segment. Its principal products are intraocular lenses used in cataract surgery and implantable collamer lenses used in refractive surgery.

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