STAAR Surgical (NASDAQ:STAA) Downgraded to “Hold” Rating by Wall Street Zen

STAAR Surgical (NASDAQ:STAA) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

STAA has been the subject of several other reports. Weiss Ratings raised STAAR Surgical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. Wells Fargo & Company raised their price target on STAAR Surgical from $16.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, May 15th. Canaccord Genuity Group lifted their price objective on STAAR Surgical from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Stifel Nicolaus lifted their price objective on STAAR Surgical from $18.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, May 14th. Finally, Piper Sandler boosted their price objective on STAAR Surgical from $16.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, STAAR Surgical presently has a consensus rating of “Hold” and a consensus target price of $27.81.

STAAR Surgical Price Performance

STAA opened at $29.29 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.12 and a quick ratio of 4.31. The stock has a market capitalization of $1.46 billion, a P/E ratio of -68.11 and a beta of 1.23. The company’s 50 day simple moving average is $28.85 and its 200-day simple moving average is $23.43. STAAR Surgical has a one year low of $15.59 and a one year high of $35.87.

STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings data on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share for the quarter, topping 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 firm had revenue of $93.52 million during the quarter, compared to analysts’ expectations of $78.72 million. During the same quarter in the previous year, the company posted ($1.10) EPS. STAAR Surgical’s revenue was up 119.6% on a year-over-year basis. Sell-side analysts anticipate that STAAR Surgical will post 0.13 earnings per share for the current fiscal year.

Institutional Trading of STAAR Surgical

Several institutional investors and hedge funds have recently made changes to their positions in STAA. Caitong International Asset Management Co. Ltd lifted its stake in shares of STAAR Surgical by 2,605.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock valued at $28,000 after purchasing an additional 1,016 shares during the period. Ascentis Independent Advisors acquired a new stake in shares of STAAR Surgical during the first quarter worth $77,000. Tower Research Capital LLC TRC increased its holdings in STAAR Surgical by 375.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock valued at $99,000 after purchasing an additional 4,673 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in STAAR Surgical by 9,928.9% in the third quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock valued at $121,000 after purchasing an additional 4,468 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in STAAR Surgical by 2,867.1% in the first quarter. Fifth Third Bancorp now owns 11,008 shares of the medical instruments supplier’s stock valued at $206,000 after buying an additional 10,637 shares during the period. 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.