STAAR Surgical’s (STAA) Outperform Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of STAAR Surgical (NASDAQ:STAA) in a research report released on Thursday morning,Benzinga reports. Wedbush currently has a $40.00 target price on the medical instruments supplier’s stock.

STAA has been the subject of a number of other reports. Piper Sandler increased their price target on STAAR Surgical from $16.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Mizuho raised their target price on shares of STAAR Surgical from $22.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Stifel Nicolaus upped their price target on shares of STAAR Surgical from $18.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, May 14th. Wall Street Zen raised shares of STAAR Surgical from a “hold” rating to a “buy” rating in a research note on Sunday, July 5th. Finally, Weiss Ratings upgraded shares of STAAR Surgical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 25th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, STAAR Surgical currently has an average rating of “Hold” and an average target price of $27.81.

STAAR Surgical Price Performance

Shares of NASDAQ:STAA opened at $26.44 on Thursday. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -61.49 and a beta of 1.23. The firm has a fifty day moving average price of $29.43 and a 200 day moving average price of $23.82. STAAR Surgical has a fifty-two week low of $15.59 and a fifty-two week high of $35.87. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.31 and a current ratio of 5.12.

STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. The company had revenue of $93.52 million for the quarter, compared to the consensus estimate of $78.72 million. STAAR Surgical had a negative net margin of 7.24% and a positive return on equity of 3.31%. STAAR Surgical’s revenue for the quarter was up 119.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.10) EPS. As a group, sell-side analysts expect that STAAR Surgical will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Broadwood Capital Inc. grew its holdings in STAAR Surgical by 11.1% during the 4th quarter. Broadwood Capital Inc. now owns 15,019,491 shares of the medical instruments supplier’s stock valued at $346,800,000 after purchasing an additional 1,500,000 shares during the last quarter. Soleus Capital Management L.P. boosted its position in shares of STAAR Surgical by 16.5% during the second quarter. Soleus Capital Management L.P. now owns 2,984,733 shares of the medical instruments supplier’s stock valued at $50,084,000 after buying an additional 421,840 shares during the period. Yunqi Capital Ltd boosted its position in shares of STAAR Surgical by 0.3% during the fourth quarter. Yunqi Capital Ltd now owns 2,507,130 shares of the medical instruments supplier’s stock valued at $57,890,000 after buying an additional 7,069 shares during the period. Magnetar Financial LLC grew its stake in shares of STAAR Surgical by 105.3% during the fourth quarter. Magnetar Financial LLC now owns 2,472,390 shares of the medical instruments supplier’s stock valued at $57,087,000 after buying an additional 1,268,019 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of STAAR Surgical by 112.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,076,743 shares of the medical instruments supplier’s stock valued at $47,952,000 after buying an additional 1,100,484 shares during the last quarter. Institutional investors own 96.70% of the company’s stock.

STAAR Surgical Company Profile

STAAR Surgical Company, together with its subsidiaries, designs, develops, manufactures, markets, and sells implantable lenses for the eye, and companion delivery systems to deliver the lenses into the eye. The company provides implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.