STAAR Surgical Company (STAA) Given New $15.00 Price Target at Benchmark Co.
STAAR Surgical Company (NASDAQ:STAA) had its price target lifted by investment analysts at Benchmark Co. from $13.00 to $15.00 in a research note issued on Friday, The Fly reports. The firm presently has a “buy” rating on the medical instruments supplier’s stock. Benchmark Co.’s target price would indicate a potential upside of 15.83% from the stock’s current price.
Other analysts have also recently issued research reports about the stock. Canaccord Genuity raised shares of STAAR Surgical from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Monday, September 25th. Zacks Investment Research raised shares of STAAR Surgical from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. TheStreet raised shares of STAAR Surgical from a “d+” rating to a “c” rating in a research note on Tuesday, August 15th. Finally, BidaskClub raised shares of STAAR Surgical from a “strong sell” rating to a “sell” rating in a research note on Friday, August 11th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $14.00.
Shares of STAAR Surgical (NASDAQ STAA) traded up 4.02% on Friday, reaching $12.95. The company’s stock had a trading volume of 97,438 shares. The company’s market cap is $532.35 million. The firm has a 50 day moving average of $12.39 and a 200 day moving average of $10.77. STAAR Surgical has a 52-week low of $7.45 and a 52-week high of $13.95.
STAAR Surgical (NASDAQ:STAA) last posted its earnings results on Wednesday, August 2nd. The medical instruments supplier reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The firm had revenue of $21.90 million for the quarter, compared to analysts’ expectations of $22.15 million. STAAR Surgical had a negative net margin of 6.06% and a negative return on equity of 8.69%. The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. Analysts predict that STAAR Surgical will post ($0.11) earnings per share for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of the business. Grandeur Peak Global Advisors LLC grew its stake in shares of STAAR Surgical by 2.5% during the second quarter. Grandeur Peak Global Advisors LLC now owns 436,035 shares of the medical instruments supplier’s stock worth $4,709,000 after buying an additional 10,629 shares during the last quarter. Susquehanna International Group LLP bought a new stake in shares of STAAR Surgical during the second quarter worth $235,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of STAAR Surgical during the second quarter worth $214,000. State Street Corp grew its stake in shares of STAAR Surgical by 7.8% during the second quarter. State Street Corp now owns 684,125 shares of the medical instruments supplier’s stock worth $7,390,000 after buying an additional 49,362 shares during the last quarter. Finally, Palo Alto Investors LLC grew its stake in shares of STAAR Surgical by 1.6% during the second quarter. Palo Alto Investors LLC now owns 3,529,070 shares of the medical instruments supplier’s stock worth $38,114,000 after buying an additional 55,900 shares during the last quarter. 76.54% of the stock is currently owned by hedge funds and other institutional investors.
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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