STAAR Surgical (NASDAQ:STAA)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $62.48 and last traded at $59.37, with a volume of 5992 shares traded. The stock had previously closed at $61.62.
STAA has been the topic of a number of recent analyst reports. ValuEngine downgraded shares of STAAR Surgical from a “buy” rating to a “hold” rating in a report on Tuesday, March 17th. Stephens cut their price target on shares of STAAR Surgical from $56.00 to $37.00 and set an “overweight” rating for the company in a report on Monday, March 23rd. Sidoti cut shares of STAAR Surgical from a “buy” rating to a “neutral” rating and set a $58.00 price target on the stock. in a report on Monday. Zacks Investment Research downgraded STAAR Surgical from a “hold” rating to a “sell” rating in a research report on Wednesday, June 10th. Finally, BTIG Research restated a “hold” rating on shares of STAAR Surgical in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $45.33.
The firm has a market capitalization of $2.80 billion, a P/E ratio of 214.64 and a beta of 1.68. The business’s 50-day simple moving average is $47.28 and its 200 day simple moving average is $37.90. The company has a quick ratio of 5.17, a current ratio of 5.75 and a debt-to-equity ratio of 0.02.
STAAR Surgical (NASDAQ:STAA) last released its earnings results on Wednesday, May 6th. The medical instruments supplier reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The company had revenue of $35.19 million for the quarter, compared to analyst estimates of $34.90 million. STAAR Surgical had a net margin of 8.21% and a return on equity of 12.52%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. Sell-side analysts predict that STAAR Surgical will post 0.21 earnings per share for the current year.
In other STAAR Surgical news, insider Samuel J. Gesten sold 192,522 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $40.00, for a total transaction of $7,700,880.00. Following the completion of the sale, the insider now owns 61,185 shares of the company’s stock, valued at approximately $2,447,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Keith Holliday sold 25,000 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $37.69, for a total transaction of $942,250.00. Following the completion of the transaction, the chief technology officer now owns 53,447 shares in the company, valued at approximately $2,014,417.43. The disclosure for this sale can be found here. Insiders have sold 303,300 shares of company stock worth $12,192,414 over the last ninety days. Insiders own 3.90% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Capital International Investors increased its stake in shares of STAAR Surgical by 45.1% during the fourth quarter. Capital International Investors now owns 1,833,100 shares of the medical instruments supplier’s stock valued at $64,470,000 after buying an additional 569,400 shares during the period. Broadfin Capital LLC bought a new stake in STAAR Surgical during the fourth quarter worth about $16,253,000. Loomis Sayles & Co. L P purchased a new stake in STAAR Surgical in the fourth quarter worth about $15,658,000. UBS Asset Management Americas Inc. increased its stake in shares of STAAR Surgical by 1,349.2% during the fourth quarter. UBS Asset Management Americas Inc. now owns 372,043 shares of the medical instruments supplier’s stock valued at $13,085,000 after purchasing an additional 346,370 shares in the last quarter. Finally, TCW Group Inc. purchased a new position in shares of STAAR Surgical during the first quarter valued at approximately $6,684,000. Hedge funds and other institutional investors own 94.14% of the company’s stock.
STAAR Surgical Company Profile (NASDAQ:STAA)
STAAR Surgical Company, together with its subsidiaries, designs, develops, manufactures, markets, and sells implantable lenses for the eye, and delivery systems to deliver the lenses into the eye. The company provides Visian implantable collamer lenses (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness.
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