STAAR Surgical (NASDAQ:STAA) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of STAAR Surgical (NASDAQ:STAA) from a buy rating to a hold rating in a report released on Saturday.

A number of other research analysts also recently issued reports on the company. Stifel Nicolaus boosted their price objective on STAAR Surgical from $18.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, May 14th. Weiss Ratings upgraded shares of STAAR Surgical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 25th. Canaccord Genuity Group lifted their price target on shares of STAAR Surgical from $27.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Piper Sandler upped their price target on shares of STAAR Surgical from $16.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, Wedbush reissued an “outperform” rating and issued a $40.00 price objective on shares of STAAR Surgical in a research note on Wednesday, July 22nd. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, STAAR Surgical presently has an average rating of “Hold” and a consensus target price of $26.94.

STAAR Surgical Price Performance

Shares of STAAR Surgical stock opened at $24.34 on Friday. The stock has a market cap of $1.21 billion, a P/E ratio of -56.60 and a beta of 1.26. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.31 and a current ratio of 5.12. The stock’s fifty day moving average is $27.78 and its 200 day moving average is $23.92. STAAR Surgical has a one year low of $15.59 and a one year high of $35.87.

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

Institutional Investors Weigh In On STAAR Surgical

Several institutional investors and hedge funds have recently modified their holdings of STAA. Amundi purchased a new position in shares of STAAR Surgical in the first quarter worth $305,000. American Capital Management Inc. grew its stake in STAAR Surgical by 18.7% during the first quarter. American Capital Management Inc. now owns 878,035 shares of the medical instruments supplier’s stock valued at $16,419,000 after acquiring an additional 138,499 shares in the last quarter. Quantinno Capital Management LP purchased a new position in STAAR Surgical during the first quarter valued at $1,109,000. Renaissance Technologies LLC increased its holdings in STAAR Surgical by 257.7% in the 1st quarter. Renaissance Technologies LLC now owns 135,200 shares of the medical instruments supplier’s stock valued at $2,528,000 after acquiring an additional 97,400 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in STAAR Surgical by 33.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 20,000 shares of the medical instruments supplier’s stock valued at $374,000 after acquiring an additional 5,000 shares during the last quarter. 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. 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.