STAAR Surgical (NASDAQ:STAA) Stock Rating Reaffirmed by Needham & Company LLC

STAAR Surgical (NASDAQ:STAA)‘s stock had its “hold” rating reissued by analysts at Needham & Company LLC in a research note issued on Thursday, Benzinga reports.

A number of other brokerages have also weighed in on STAA. Stifel Nicolaus cut their price target on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. BTIG Research boosted their price objective 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. Canaccord Genuity Group lowered their target price on STAAR Surgical from $43.00 to $41.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Finally, Morgan Stanley lowered STAAR Surgical from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $50.00 to $37.00 in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, STAAR Surgical presently has an average rating of “Hold” and an average target price of $45.57.

STAAR Surgical Price Performance

STAA opened at $30.39 on Thursday. The business has a 50-day moving average of $36.60 and a 200-day moving average of $40.41. STAAR Surgical has a fifty-two week low of $26.66 and a fifty-two week high of $52.68. The company has a market capitalization of $1.49 billion, a PE ratio of 96.71 and a beta of 0.58.

STAAR Surgical (NASDAQ:STAA) last released 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 firm had revenue of $99.01 million for the quarter, compared to analyst estimates of $95.22 million. STAAR Surgical had a return on equity of 5.60% and a net margin of 4.99%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business earned $0.23 earnings per share. On average, equities research analysts expect that STAAR Surgical will post 0.17 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Arthur C. Butcher purchased 1,315 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $37.99 per share, with a total value of $49,956.85. Following the purchase, the director now owns 4,208 shares in the company, valued at $159,861.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On STAAR Surgical

Several hedge funds and other institutional investors have recently made changes to their positions in STAA. GAMMA Investing LLC lifted its holdings in shares of STAAR Surgical by 313.9% in the first quarter. GAMMA Investing LLC now owns 1,308 shares of the medical instruments supplier’s stock valued at $50,000 after purchasing an additional 992 shares in the last quarter. Cape Investment Advisory Inc. purchased a new position in STAAR Surgical during the 4th quarter worth $42,000. Covestor Ltd grew its stake in shares of STAAR Surgical by 38.9% in the 1st quarter. Covestor Ltd now owns 2,690 shares of the medical instruments supplier’s stock worth $103,000 after acquiring an additional 754 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of STAAR Surgical in the second quarter valued at about $129,000. Finally, Larson Financial Group LLC bought a new position in shares of STAAR Surgical during the second quarter valued at about $130,000. 96.70% of the stock is owned by institutional investors.

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.