STAAR Surgical (NASDAQ:STAA) Earns “Outperform” Rating from Wedbush

STAAR Surgical (NASDAQ:STAA)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wedbush in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $40.00 price objective on the medical instruments supplier’s stock. Wedbush’s price target suggests a potential upside of 64.34% from the company’s previous close.

A number of other research firms also recently commented on STAA. Stifel Nicolaus boosted their price target on STAAR Surgical from $18.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, May 14th. Mizuho raised their target price on shares of STAAR Surgical from $22.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Weiss Ratings raised shares of STAAR Surgical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 25th. Canaccord Genuity Group boosted their price objective on shares of STAAR Surgical from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Finally, Wall Street Zen lowered STAAR Surgical from a “buy” rating to a “hold” rating in a research note on Saturday. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.94.

STAAR Surgical Trading Down 0.1%

Shares of STAA stock opened at $24.34 on Tuesday. The stock has a market cap of $1.21 billion, a P/E ratio of -56.60 and a beta of 1.26. STAAR Surgical has a 1 year low of $15.59 and a 1 year high of $35.87. The company has a current ratio of 5.12, a quick ratio of 4.31 and a debt-to-equity ratio of 0.09. The stock has a 50 day simple moving average of $27.78 and a 200 day simple moving average of $23.92.

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 analysts’ consensus estimates of $0.05 by $0.05. The firm had revenue of $93.52 million for 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%.The company’s revenue was up 119.6% on a year-over-year basis. During the same quarter last year, the company earned ($1.10) EPS. On average, research analysts predict that STAAR Surgical will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On STAAR Surgical

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Broadwood Capital Inc. grew its stake in shares of STAAR Surgical by 11.1% during the fourth quarter. Broadwood Capital Inc. now owns 15,019,491 shares of the medical instruments supplier’s stock worth $346,800,000 after buying an additional 1,500,000 shares during the last quarter. Soleus Capital Management L.P. boosted its holdings in shares of STAAR Surgical by 16.5% during the 2nd quarter. Soleus Capital Management L.P. now owns 2,984,733 shares of the medical instruments supplier’s stock valued at $50,084,000 after acquiring an additional 421,840 shares in the last quarter. Yunqi Capital Ltd grew its position in STAAR Surgical by 0.3% during the 4th quarter. Yunqi Capital Ltd now owns 2,507,130 shares of the medical instruments supplier’s stock worth $57,890,000 after acquiring an additional 7,069 shares during the last quarter. Magnetar Financial LLC grew its position in STAAR Surgical by 105.3% during the 4th quarter. Magnetar Financial LLC now owns 2,472,390 shares of the medical instruments supplier’s stock worth $57,087,000 after acquiring an additional 1,268,019 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in STAAR Surgical by 112.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,076,743 shares of the medical instruments supplier’s stock worth $47,952,000 after purchasing an additional 1,100,484 shares in 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.