STAAR Surgical (NASDAQ:STAA) Receives $47.75 Average Price Target from Analysts

STAAR Surgical (NASDAQ:STAA) has been assigned an average recommendation of “Hold” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $46.43.

Several research firms have recently commented on STAA. Mizuho increased their target price on STAAR Surgical from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Piper Sandler raised their price objective on shares of STAAR Surgical from $33.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. BTIG Research upped their target price 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. Morgan Stanley cut shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $50.00 to $37.00 in a research report on Monday, July 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a report on Thursday, August 8th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in STAA. The Manufacturers Life Insurance Company boosted its holdings in shares of STAAR Surgical by 16.2% during the second quarter. The Manufacturers Life Insurance Company now owns 27,008 shares of the medical instruments supplier’s stock valued at $1,286,000 after acquiring an additional 3,758 shares during the period. Millennium Management LLC lifted its position in STAAR Surgical by 84.2% in the 2nd quarter. Millennium Management LLC now owns 178,772 shares of the medical instruments supplier’s stock valued at $8,511,000 after purchasing an additional 81,738 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new position in STAAR Surgical during the 2nd quarter valued at about $423,000. Squarepoint Ops LLC grew its position in STAAR Surgical by 108.1% in the 2nd quarter. Squarepoint Ops LLC now owns 62,772 shares of the medical instruments supplier’s stock worth $2,989,000 after purchasing an additional 32,602 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its position in STAAR Surgical by 8.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 108,118 shares of the medical instruments supplier’s stock worth $5,147,000 after purchasing an additional 8,081 shares during the last quarter. 96.70% of the stock is currently owned by institutional investors.

STAAR Surgical Price Performance

Shares of STAA stock opened at $36.43 on Friday. The company’s fifty day moving average price is $41.62 and its two-hundred day moving average price is $40.01. The firm has a market capitalization of $1.79 billion, a P/E ratio of 117.52 and a beta of 0.59. STAAR Surgical has a 12 month low of $26.66 and a 12 month high of $52.68.

STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings results on Wednesday, August 7th. The medical instruments supplier reported $0.15 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.09). STAAR Surgical had a return on equity of 5.60% and a net margin of 4.99%. The business had revenue of $99.01 million during the quarter, compared to analyst estimates of $95.22 million. During the same quarter last year, the firm posted $0.23 EPS. The company’s revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts anticipate that STAAR Surgical will post 0.08 EPS for the current year.

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.