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

Shares of STAAR Surgical Company (NASDAQ:STAA) have received a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $27.8125.

Several equities analysts have weighed in on STAA shares. Canaccord Genuity Group lifted their target price on STAAR Surgical from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Wall Street Zen raised shares of STAAR Surgical from a “hold” rating to a “buy” rating in a research report on Sunday, July 5th. Piper Sandler raised their price objective on shares of STAAR Surgical from $16.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Wedbush restated an “outperform” rating and issued a $40.00 price objective on shares of STAAR Surgical in a report on Friday, May 29th. Finally, Wells Fargo & Company lifted their price objective on shares of STAAR Surgical from $16.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, May 15th.

Hedge Funds Weigh In On STAAR Surgical

Several institutional investors have recently modified their holdings of the business. Broadwood Capital Inc. grew its stake in shares of STAAR Surgical by 11.1% in the fourth quarter. Broadwood Capital Inc. now owns 15,019,491 shares of the medical instruments supplier’s stock worth $346,800,000 after acquiring an additional 1,500,000 shares in the last quarter. Soleus Capital Management L.P. raised its stake in shares of STAAR Surgical by 16.5% in 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 acquiring an additional 421,840 shares in the last quarter. Yunqi Capital Ltd raised its stake in shares of STAAR Surgical by 0.3% in 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 acquiring an additional 7,069 shares in the last quarter. Magnetar Financial LLC boosted its holdings 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 purchasing an additional 1,268,019 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings 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 purchasing an additional 1,100,484 shares during the period. Institutional investors and hedge funds own 96.70% of the company’s stock.

STAAR Surgical Trading Down 0.6%

Shares of NASDAQ STAA opened at $27.97 on Friday. STAAR Surgical has a twelve month low of $15.59 and a twelve month high of $35.87. The company has a current ratio of 5.12, a quick ratio of 4.31 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $29.31 and a 200-day simple moving average of $23.65. The stock has a market capitalization of $1.39 billion, a PE ratio of -65.04 and a beta of 1.23.

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

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.