STAAR Surgical (NASDAQ:STAA) Stock Price Down 5.5%

STAAR Surgical (NASDAQ:STAA)’s stock price fell 5.5% during trading on Tuesday . The stock traded as low as $36.17 and last traded at $36.42. 338,876 shares traded hands during trading, a decline of 52% from the average session volume of 704,022 shares. The stock had previously closed at $38.54.

Analyst Ratings Changes

STAA has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research report on Thursday, August 8th. Piper Sandler increased their target price on shares of STAAR Surgical from $33.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Morgan Stanley cut shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $50.00 to $37.00 in a report on Monday, July 15th. BTIG Research increased their price objective 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. Finally, Mizuho lifted their price objective on shares of STAAR Surgical from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $47.75.

STAAR Surgical Stock Down 4.7 %

The company has a market capitalization of $1.81 billion, a P/E ratio of 114.32 and a beta of 0.59. The company has a 50-day moving average of $41.88 and a two-hundred day moving average of $40.02.

STAAR Surgical (NASDAQ:STAA) last announced its 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). The business had revenue of $99.01 million for the quarter, compared to the consensus estimate of $95.22 million. STAAR Surgical had a net margin of 4.99% and a return on equity of 5.60%. STAAR Surgical’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 EPS. As a group, equities analysts expect that STAAR Surgical will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On STAAR Surgical

A number of hedge funds have recently bought and sold shares of STAA. Sei Investments Co. grew its holdings in shares of STAAR Surgical by 2.7% in the second quarter. Sei Investments Co. now owns 15,087 shares of the medical instruments supplier’s stock worth $718,000 after acquiring an additional 394 shares during the period. Canada Pension Plan Investment Board purchased a new position in STAAR Surgical in the second quarter worth about $129,000. Granite Investment Partners LLC bought a new stake in shares of STAAR Surgical during the 2nd quarter valued at about $17,237,000. Hsbc Holdings PLC increased its position in shares of STAAR Surgical by 12.4% during the 2nd quarter. Hsbc Holdings PLC now owns 10,290 shares of the medical instruments supplier’s stock valued at $492,000 after purchasing an additional 1,137 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its stake in shares of STAAR Surgical by 214.7% in the 2nd quarter. Mutual of America Capital Management LLC now owns 26,459 shares of the medical instruments supplier’s stock worth $1,260,000 after purchasing an additional 18,051 shares during the period. Hedge funds and other institutional investors own 96.70% of the company’s stock.

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.