STAAR Surgical (NASDAQ:STAA) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of STAAR Surgical (NASDAQ:STAA) in a research report report published on Thursday morning, Benzinga reports.

A number of other research firms have also recently issued reports on STAA. Canaccord Genuity Group reduced their target price on shares of STAAR Surgical from $43.00 to $41.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Morgan Stanley lowered STAAR Surgical from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $50.00 to $37.00 in a report on Monday, July 15th. Stifel Nicolaus decreased their target price on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Finally, BTIG Research lifted their price target on shares of STAAR Surgical from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, STAAR Surgical currently has a consensus rating of “Hold” and an average target price of $44.14.

STAAR Surgical Stock Performance

Shares of STAA stock traded up $0.20 during trading on Thursday, hitting $29.19. 165,804 shares of the company were exchanged, compared to its average volume of 713,789. The business’s 50-day simple moving average is $32.06 and its 200 day simple moving average is $38.76. STAAR Surgical has a twelve month low of $26.66 and a twelve month high of $52.68. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 65.89 and a beta of 0.59.

STAAR Surgical (NASDAQ:STAA) last posted 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). The company had revenue of $99.01 million during the quarter, compared to analyst estimates of $95.22 million. STAAR Surgical had a return on equity of 6.91% and a net margin of 6.38%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $0.23 earnings per share. On average, equities analysts forecast that STAAR Surgical will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Arthur C. Butcher purchased 1,315 shares of STAAR Surgical stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $37.99 per share, with a total value of $49,956.85. Following the acquisition, the director now directly owns 4,208 shares in the company, valued at approximately $159,861.92. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On STAAR Surgical

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of STAAR Surgical by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,468,710 shares of the medical instruments supplier’s stock worth $170,678,000 after buying an additional 43,083 shares in the last quarter. Defender Capital LLC. increased its holdings in STAAR Surgical by 1.1% during the 1st quarter. Defender Capital LLC. now owns 730,387 shares of the medical instruments supplier’s stock valued at $27,959,000 after purchasing an additional 7,855 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in STAAR Surgical by 50.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 592,621 shares of the medical instruments supplier’s stock valued at $28,215,000 after purchasing an additional 197,717 shares during the last quarter. Yunqi Capital Ltd boosted its stake in STAAR Surgical by 162.0% in the first quarter. Yunqi Capital Ltd now owns 515,300 shares of the medical instruments supplier’s stock worth $19,726,000 after purchasing an additional 318,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of STAAR Surgical by 25.9% during the second quarter. Dimensional Fund Advisors LP now owns 459,655 shares of the medical instruments supplier’s stock worth $21,884,000 after purchasing an additional 94,422 shares during the last quarter. 96.70% of the stock is currently owned by 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.