STAAR Surgical Company (NASDAQ:STAA) Receives Consensus Recommendation of “Hold” from Analysts

Shares of STAAR Surgical Company (NASDAQ:STAA) have been assigned a consensus rating of “Hold” from the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $27.8125.

Several brokerages have recently weighed in on STAA. Wall Street Zen upgraded shares of STAAR Surgical from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Wedbush reiterated an “outperform” rating and set a $40.00 target price on shares of STAAR Surgical in a research report on Friday, May 29th. Mizuho lifted their target price on shares of STAAR Surgical from $22.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Wells Fargo & Company lifted their target price on shares of STAAR Surgical from $16.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, May 15th. Finally, Canaccord Genuity Group lifted their target price on shares of STAAR Surgical from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, May 14th.

STAAR Surgical Stock Performance

NASDAQ:STAA opened at $28.37 on Monday. The firm’s 50-day moving average is $27.65 and its 200-day moving average is $23.20. STAAR Surgical has a 52-week low of $15.59 and a 52-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. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -65.98 and a beta of 1.23.

STAAR Surgical (NASDAQ:STAA) last issued its earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $93.52 million for the quarter, compared to analyst estimates of $78.72 million. During the same period in the previous year, the business earned ($1.10) EPS. The firm’s revenue was up 119.6% on a year-over-year basis. Equities research analysts anticipate that STAAR Surgical will post 0.13 earnings per share for the current year.

Institutional Trading of STAAR Surgical

Several institutional investors have recently made changes to their positions in STAA. Balyasny Asset Management L.P. acquired a new stake in shares of STAAR Surgical during the 3rd quarter valued at about $48,729,000. Broadwood Capital Inc. boosted its position in shares of 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 acquiring an additional 1,500,000 shares in the last quarter. Magnetar Financial LLC boosted its position in STAAR Surgical by 105.3% in 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 in the last quarter. Goldman Sachs Group Inc. boosted its position in STAAR Surgical by 112.7% in 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 in the last quarter. Finally, Defender Capital LLC. acquired a new position in STAAR Surgical in the fourth quarter valued at about $15,429,000. 96.70% of the stock is currently owned by institutional investors and hedge funds.

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.