Canaccord Genuity Group Lowers STAAR Surgical (NASDAQ:STAA) Price Target to $41.00

STAAR Surgical (NASDAQ:STAA) had its price objective lowered by Canaccord Genuity Group from $43.00 to $41.00 in a research report released on Thursday morning, Benzinga reports. Canaccord Genuity Group currently has a hold rating on the medical instruments supplier’s stock.

Several other brokerages have also issued reports on STAA. Needham & Company LLC reissued a hold rating on shares of STAAR Surgical in a report on Monday, July 15th. BTIG Research upped their price target on shares of STAAR Surgical from $46.00 to $53.00 and gave the company a buy rating in a research note on Monday, July 15th. Piper Sandler increased their price objective on shares of STAAR Surgical from $33.00 to $40.00 and gave the company a neutral rating in a research note on Wednesday, May 8th. Mizuho boosted their target price on shares of STAAR Surgical from $53.00 to $55.00 and gave the company a buy rating in a report on Wednesday, May 8th. Finally, Morgan Stanley lowered shares of STAAR Surgical from an equal weight rating to an underweight rating and dropped their price objective for the company from $50.00 to $37.00 in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, STAAR Surgical presently has a consensus rating of Hold and an average price target of $47.75.

STAAR Surgical Price Performance

Shares of STAAR Surgical stock traded down $1.98 during trading on Thursday, hitting $38.38. The stock had a trading volume of 1,231,180 shares, compared to its average volume of 703,919. The firm has a market cap of $1.89 billion, a P/E ratio of 123.81 and a beta of 0.59. STAAR Surgical has a fifty-two week low of $26.66 and a fifty-two week high of $52.68. The business has a fifty day moving average of $41.94 and a two-hundred day moving average of $39.83.

STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings results on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). STAAR Surgical had a net margin of 4.69% and a return on equity of 6.83%. The business had revenue of $99.01 million for the quarter, compared to the consensus estimate of $95.22 million. During the same quarter in the prior year, the business posted $0.23 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, research analysts forecast that STAAR Surgical will post 0.08 earnings per share for the current year.

Institutional Trading of STAAR Surgical

Several institutional investors and hedge funds have recently made changes to their positions in the company. Texas Permanent School Fund Corp raised its position in shares of STAAR Surgical by 1.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 42,577 shares of the medical instruments supplier’s stock worth $1,630,000 after purchasing an additional 407 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in STAAR Surgical by 3.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,343 shares of the medical instruments supplier’s stock worth $540,000 after buying an additional 418 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its position in STAAR Surgical by 2.3% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 20,721 shares of the medical instruments supplier’s stock valued at $987,000 after purchasing an additional 469 shares during the period. Louisiana State Employees Retirement System increased its position in STAAR Surgical by 2.1% in the 2nd quarter. Louisiana State Employees Retirement System now owns 24,700 shares of the medical instruments supplier’s stock valued at $1,176,000 after acquiring an additional 500 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in STAAR Surgical by 1.5% during the first quarter. Russell Investments Group Ltd. now owns 36,931 shares of the medical instruments supplier’s stock worth $1,406,000 after purchasing an additional 555 shares in the last quarter. 96.70% of the stock is owned by hedge funds and other institutional investors.

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.