STAAR Surgical (NASDAQ:STAA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and 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. “
A number of other research analysts have also weighed in on the company. Canaccord Genuity increased their price objective on STAAR Surgical from $17.50 to $20.00 and gave the company a “buy” rating in a report on Friday, November 17th. BidaskClub lowered STAAR Surgical from a “sell” rating to a “strong sell” rating in a report on Saturday, January 6th. Finally, Benchmark reissued a “buy” rating and issued a $21.00 price objective on shares of STAAR Surgical in a report on Monday, November 20th. One investment 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. The stock currently has an average rating of “Hold” and a consensus price target of $17.67.
STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). STAAR Surgical had a negative net margin of 2.36% and a negative return on equity of 2.28%. The business had revenue of $24.85 million for the quarter. equities analysts predict that STAAR Surgical will post 0.1 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in STAA. Mutual of America Capital Management LLC increased its holdings in shares of STAAR Surgical by 0.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 216,682 shares of the medical instruments supplier’s stock valued at $1,547,000 after purchasing an additional 1,299 shares during the period. Principal Financial Group Inc. boosted its stake in shares of STAAR Surgical by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 267,426 shares of the medical instruments supplier’s stock worth $1,909,000 after buying an additional 1,759 shares during the last quarter. Menta Capital LLC boosted its stake in shares of STAAR Surgical by 26.9% in the first quarter. Menta Capital LLC now owns 75,840 shares of the medical instruments supplier’s stock worth $560,000 after buying an additional 16,096 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of STAAR Surgical in the first quarter worth about $233,000. Finally, Geode Capital Management LLC boosted its stake in shares of STAAR Surgical by 1.6% in the first quarter. Geode Capital Management LLC now owns 193,933 shares of the medical instruments supplier’s stock worth $1,433,000 after buying an additional 3,015 shares during the last quarter. 78.95% of the stock is currently owned by institutional investors and hedge funds.
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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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