STAAR Surgical Company (STAA) Stock Rating Reaffirmed by Canaccord Genuity
STAAR Surgical Company (NASDAQ:STAA)‘s stock had its “hold” rating reissued by equities researchers at Canaccord Genuity in a research note issued on Wednesday. They presently have a $11.00 target price on the medical instruments supplier’s stock. Canaccord Genuity’s target price indicates a potential downside of 7.56% from the company’s current price.
Several other research analysts also recently commented on STAA. TheStreet upgraded STAAR Surgical from a “d+” rating to a “c” rating in a research note on Tuesday, August 15th. BidaskClub upgraded STAAR Surgical from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Benchmark Co. lifted their target price on STAAR Surgical from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. Finally, Zacks Investment Research upgraded STAAR Surgical from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $12.00.
STAAR Surgical (NASDAQ STAA) remained flat at $11.90 on Wednesday. The company had a trading volume of 41,552 shares. The stock’s 50 day moving average is $11.25 and its 200-day moving average is $10.21. The stock’s market cap is $489.19 million. STAAR Surgical has a 12 month low of $7.45 and a 12 month high of $12.35.
STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings results on Wednesday, August 2nd. The medical instruments supplier reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.04. The firm had revenue of $21.90 million during the quarter, compared to the consensus estimate of $22.15 million. STAAR Surgical had a negative return on equity of 8.69% and a negative net margin of 6.06%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company earned ($0.02) earnings per share. Equities analysts expect that STAAR Surgical will post ($0.11) earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently modified their holdings of STAA. Goldman Sachs Group Inc. bought a new position in shares of STAAR Surgical during the 1st quarter worth approximately $111,000. Virtu KCG Holdings LLC bought a new position in shares of STAAR Surgical during the 2nd quarter worth approximately $118,000. Stephens Inc. AR boosted its stake in shares of STAAR Surgical by 2.6% during the 2nd quarter. Stephens Inc. AR now owns 12,238 shares of the medical instruments supplier’s stock worth $132,000 after acquiring an additional 315 shares during the period. Simplex Trading LLC boosted its stake in shares of STAAR Surgical by 1,798.8% during the 2nd quarter. Simplex Trading LLC now owns 12,779 shares of the medical instruments supplier’s stock worth $138,000 after acquiring an additional 12,106 shares during the period. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of STAAR Surgical during the 2nd quarter worth approximately $214,000. Institutional investors own 76.54% of the company’s stock.
STAAR Surgical Company Profile
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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