STAAR Surgical (STAA) Raised to Sell at BidaskClub

STAAR Surgical (NASDAQ:STAA) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Tuesday.

Several other equities research analysts have also issued reports on the stock. Benchmark reiterated a “buy” rating and set a $21.00 target price on shares of STAAR Surgical in a research report on Monday, November 20th. Canaccord Genuity lifted their target price on shares of STAAR Surgical from $17.50 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 17th. Finally, Zacks Investment Research lowered shares of STAAR Surgical from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. STAAR Surgical has a consensus rating of “Hold” and a consensus target price of $17.67.

Shares of STAAR Surgical (NASDAQ STAA) traded down $0.70 during trading on Tuesday, reaching $15.50. 97,274 shares of the company’s stock traded hands, compared to its average volume of 82,420. STAAR Surgical has a twelve month low of $8.95 and a twelve month high of $17.60. The company has a market capitalization of $666.86, a price-to-earnings ratio of -387.50 and a beta of 1.19. The company has a current ratio of 2.24, a quick ratio of 1.72 and a debt-to-equity ratio of 0.02.

STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Wednesday, November 8th. The medical instruments supplier reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. STAAR Surgical had a negative net margin of 2.47% and a negative return on equity of 3.34%. analysts anticipate that STAAR Surgical will post -0.04 EPS for the current year.

In other news, VP Keith Holliday sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $16.65, for a total value of $99,900.00. Following the completion of the sale, the vice president now directly owns 45,969 shares in the company, valued at approximately $765,383.85. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. California Public Employees Retirement System lifted its holdings in shares of STAAR Surgical by 8.7% in the 3rd quarter. California Public Employees Retirement System now owns 48,711 shares of the medical instruments supplier’s stock worth $606,000 after acquiring an additional 3,911 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of STAAR Surgical by 22.9% in the 3rd quarter. Wells Fargo & Company MN now owns 65,055 shares of the medical instruments supplier’s stock worth $810,000 after acquiring an additional 12,143 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of STAAR Surgical in the 3rd quarter worth approximately $172,000. Trexquant Investment LP lifted its holdings in shares of STAAR Surgical by 79.4% in the 3rd quarter. Trexquant Investment LP now owns 19,716 shares of the medical instruments supplier’s stock worth $245,000 after acquiring an additional 8,727 shares during the last quarter. Finally, Quantum Capital Management bought a new stake in shares of STAAR Surgical in the 3rd quarter worth approximately $710,000. Hedge funds and other institutional investors own 77.70% of the company’s stock.

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About STAAR Surgical

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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