STAAR Surgical (NASDAQ:STAA) Receives “Outperform” Rating from Wedbush

Wedbush restated their outperform rating on shares of STAAR Surgical (NASDAQ:STAA) in a research note released on Friday,Benzinga reports. They currently have a $40.00 price target on the medical instruments supplier’s stock.

A number of other analysts have also recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of STAAR Surgical from $16.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, May 15th. Mizuho raised their price objective on shares of STAAR Surgical from $22.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Piper Sandler raised their price objective on shares of STAAR Surgical from $16.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Canaccord Genuity Group raised their price objective on shares of STAAR Surgical from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, Wall Street Zen raised shares of STAAR Surgical from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $27.81.

STAAR Surgical Stock Up 2.8%

Shares of STAAR Surgical stock opened at $29.89 on Friday. STAAR Surgical has a 52-week low of $15.59 and a 52-week high of $35.87. The company has a 50 day moving average of $25.49 and a 200 day moving average of $23.05. The company has a quick ratio of 4.31, a current ratio of 5.12 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $1.49 billion, a P/E ratio of -69.51 and a beta of 1.20.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. STAAR Surgical had a negative net margin of 7.24% and a positive return on equity of 3.31%. The company had revenue of $93.52 million during the quarter, compared to the consensus estimate of $78.72 million. During the same quarter in the previous year, the firm earned ($1.10) earnings per share. The firm’s quarterly revenue was up 119.6% on a year-over-year basis. As a group, research analysts forecast that STAAR Surgical will post -0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Broadwood Partners, L.P. acquired 316,017 shares of the business’s stock in a transaction on Friday, March 13th. The shares were bought at an average price of $18.61 per share, with a total value of $5,881,076.37. Following the completion of the acquisition, the director owned 16,123,842 shares in the company, valued at $300,064,699.62. This trade represents a 2.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 670,213 shares of company stock worth $12,266,249 over the last 90 days. 39.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On STAAR Surgical

A number of institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd increased its holdings in shares of STAAR Surgical by 58.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,669 shares of the medical instruments supplier’s stock valued at $39,000 after acquiring an additional 614 shares during the period. Invesco Ltd. increased its holdings in shares of STAAR Surgical by 0.6% in the 3rd quarter. Invesco Ltd. now owns 150,896 shares of the medical instruments supplier’s stock valued at $4,055,000 after acquiring an additional 956 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of STAAR Surgical by 2.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 52,535 shares of the medical instruments supplier’s stock valued at $1,214,000 after acquiring an additional 1,234 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of STAAR Surgical by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,390 shares of the medical instruments supplier’s stock valued at $518,000 after acquiring an additional 1,267 shares during the period. Finally, Deutsche Bank AG increased its holdings in shares of STAAR Surgical by 3.7% in the 4th quarter. Deutsche Bank AG now owns 38,586 shares of the medical instruments supplier’s stock valued at $891,000 after acquiring an additional 1,382 shares during the period. 96.70% of the stock is owned by institutional investors and hedge funds.

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.