STAAR Surgical Company (NASDAQ:STAA) Given Average Recommendation of “Hold” by Analysts

STAAR Surgical Company (NASDAQ:STAA) has been given an average rating of “Hold” by the eleven research firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $27.8125.

Several brokerages have recently issued reports on STAA. Weiss Ratings downgraded shares of STAAR Surgical from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 22nd. Canaccord Genuity Group upped their target price on shares of STAAR Surgical from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Mizuho upped their target price on shares of STAAR Surgical from $22.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Piper Sandler upped their target price on shares of STAAR Surgical from $16.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Wells Fargo & Company upped their target price on shares of STAAR Surgical from $16.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, May 15th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of STAAR Surgical by 58.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,669 shares of the medical instruments supplier’s stock valued at $39,000 after purchasing an additional 614 shares during the last quarter. Invesco Ltd. raised its holdings in shares of STAAR Surgical by 0.6% during the third quarter. Invesco Ltd. now owns 150,896 shares of the medical instruments supplier’s stock valued at $4,055,000 after purchasing an additional 956 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of STAAR Surgical by 2.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 52,535 shares of the medical instruments supplier’s stock valued at $1,214,000 after purchasing an additional 1,234 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of STAAR Surgical by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,390 shares of the medical instruments supplier’s stock valued at $518,000 after purchasing an additional 1,267 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of STAAR Surgical by 3.7% during the fourth quarter. Deutsche Bank AG now owns 38,586 shares of the medical instruments supplier’s stock valued at $891,000 after purchasing an additional 1,382 shares during the last quarter. Institutional investors own 96.70% of the company’s stock.

STAAR Surgical Stock Performance

NASDAQ:STAA opened at $29.12 on Monday. STAAR Surgical has a one year low of $15.59 and a one year high of $35.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.12 and a quick ratio of 4.31. The company’s 50-day simple moving average is $28.47 and its 200 day simple moving average is $23.32. The firm has a market capitalization of $1.45 billion, a P/E ratio of -67.72 and a beta of 1.23.

STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings data on Wednesday, May 13th. The medical instruments supplier reported $0.10 EPS for the quarter, topping the consensus estimate of $0.05 by $0.05. STAAR Surgical had a negative net margin of 7.24% and a positive return on equity of 3.31%. The business had revenue of $93.52 million for the quarter, compared to analyst estimates of $78.72 million. During the same quarter in the previous year, the firm posted ($1.10) earnings per share. STAAR Surgical’s quarterly revenue was up 119.6% on a year-over-year basis. As a group, analysts forecast that STAAR Surgical will post 0.13 EPS for the current fiscal year.

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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.