Brokerages Set STAAR Surgical (NASDAQ:STAA) Price Target at $45.57

STAAR Surgical (NASDAQ:STAA) has received a consensus recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $45.57.

STAA has been the topic of several recent research reports. Morgan Stanley lowered shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $50.00 to $37.00 in a research note on Monday, July 15th. Canaccord Genuity Group reduced their price objective on STAAR Surgical from $43.00 to $41.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Stifel Nicolaus cut their price objective on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating for the company in a report on Monday, August 26th. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research note on Thursday, September 19th. Finally, BTIG Research boosted their price target on STAAR Surgical from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Monday, July 15th.

STAAR Surgical Trading Down 1.3 %

STAA opened at $30.29 on Wednesday. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 89.09 and a beta of 0.59. The business has a 50 day moving average of $32.18 and a 200-day moving average of $38.82. STAAR Surgical has a 1-year low of $26.66 and a 1-year high of $52.68.

STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings data on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share for the quarter, missing the consensus estimate 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%. STAAR Surgical’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.23 EPS. Equities analysts predict that STAAR Surgical will post 0.16 EPS for the current year.

Insiders Place Their Bets

In other STAAR Surgical news, Director Arthur C. Butcher acquired 1,315 shares of the 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 transaction, the director now owns 4,208 shares of the company’s stock, valued at $159,861.92. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On STAAR Surgical

Several hedge funds have recently modified their holdings of the stock. Arcadia Investment Management Corp MI purchased a new stake in STAAR Surgical in the 3rd quarter worth about $37,000. GAMMA Investing LLC increased its position in shares of STAAR Surgical by 313.9% during the first quarter. GAMMA Investing LLC now owns 1,308 shares of the medical instruments supplier’s stock worth $50,000 after purchasing an additional 992 shares in the last quarter. Covestor Ltd raised its position 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 valued at $103,000 after purchasing an additional 754 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of STAAR Surgical during the second quarter valued at $129,000. Finally, Larson Financial Group LLC acquired a new position in STAAR Surgical in the 2nd quarter worth approximately $130,000. 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.