STAAR Surgical (NASDAQ:STAA) Earns Outperform Rating from Wedbush

STAAR Surgical (NASDAQ:STAA)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a report released on Wednesday,Benzinga reports. They presently have a $40.00 price target on the medical instruments supplier’s stock. Wedbush’s price objective would indicate a potential upside of 65.36% from the stock’s previous close.

Several other brokerages also recently commented on STAA. Canaccord Genuity Group upped their target price on STAAR Surgical from $27.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Mizuho lifted their price target on STAAR Surgical from $22.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Stifel Nicolaus boosted their price objective on STAAR Surgical from $18.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, May 14th. Wall Street Zen upgraded STAAR Surgical from a “hold” rating to a “buy” rating in a report on Sunday, July 5th. Finally, Weiss Ratings raised shares of STAAR Surgical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 25th. Three 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $27.81.

STAAR Surgical Trading Down 2.1%

STAAR Surgical stock opened at $24.19 on Wednesday. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -56.25 and a beta of 1.23. STAAR Surgical has a 1 year low of $15.59 and a 1 year high of $35.87. The firm’s 50 day moving average price is $29.02 and its two-hundred day moving average price is $23.85. 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 data on Wednesday, May 13th. The medical instruments supplier reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. The company had revenue of $93.52 million during the quarter, compared to the consensus estimate of $78.72 million. STAAR Surgical had a positive return on equity of 3.31% and a negative net margin of 7.24%.The company’s quarterly revenue was up 119.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.10) EPS. On average, research analysts predict that STAAR Surgical will post 0.13 EPS for the current fiscal year.

Institutional Trading of STAAR Surgical

Hedge funds and other institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd grew its holdings in shares of STAAR Surgical by 2,605.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock valued at $28,000 after buying an additional 1,016 shares in the last quarter. Ascentis Independent Advisors purchased a new stake in STAAR Surgical in the 1st quarter worth about $77,000. Tower Research Capital LLC TRC boosted its position in STAAR Surgical by 375.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock worth $99,000 after acquiring an additional 4,673 shares during the period. Russell Investments Group Ltd. boosted its position in STAAR Surgical by 9,928.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock worth $121,000 after acquiring an additional 4,468 shares during the period. Finally, Fifth Third Bancorp boosted its position in STAAR Surgical by 2,867.1% during the 1st quarter. Fifth Third Bancorp now owns 11,008 shares of the medical instruments supplier’s stock worth $206,000 after acquiring an additional 10,637 shares during the period. Institutional investors and hedge funds own 96.70% of the company’s stock.

About STAAR Surgical

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.