STAAR Surgical Company (NASDAQ:STAA) Receives Consensus Rating of “Hold” from Brokerages

STAAR Surgical Company (NASDAQ:STAA) has earned a consensus rating of “Hold” from the eleven analysts that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $19.9286.

Several brokerages have issued reports on STAA. Morgan Stanley began coverage on STAAR Surgical in a research note on Friday, January 16th. They set an “underweight” rating and a $13.00 price objective on the stock. BTIG Research restated a “neutral” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. Wall Street Zen upgraded STAAR Surgical to a “hold” rating in a research note on Saturday, April 11th. Weiss Ratings cut STAAR Surgical from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 22nd. Finally, Wells Fargo & Company cut their price objective on STAAR Surgical from $30.75 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 5th.

Insider Transactions at STAAR Surgical

In other news, Director Broadwood Partners, L.P. acquired 316,017 shares of the business’s stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $18.61 per share, for a total transaction of $5,881,076.37. Following the completion of the purchase, the director directly owned 16,123,842 shares of the company’s stock, valued at $300,064,699.62. This represents a 2.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased a total of 670,213 shares of company stock worth $12,266,249 in the last 90 days. Corporate insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

Large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its holdings in STAAR Surgical by 2,605.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock worth $28,000 after acquiring an additional 1,016 shares during the last quarter. GAMMA Investing LLC lifted its holdings in STAAR Surgical by 61.4% in the third quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock worth $50,000 after acquiring an additional 706 shares during the last quarter. Ascentis Independent Advisors bought a new position in STAAR Surgical in the first quarter worth about $77,000. Russell Investments Group Ltd. lifted its holdings in STAAR Surgical by 9,928.9% in the third quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock worth $121,000 after acquiring an additional 4,468 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in STAAR Surgical by 375.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock worth $99,000 after acquiring an additional 4,673 shares during the last quarter. Institutional investors own 96.70% of the company’s stock.

STAAR Surgical Stock Performance

NASDAQ:STAA opened at $26.36 on Friday. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -16.17 and a beta of 1.04. STAAR Surgical has a one year low of $15.59 and a one year high of $30.81. The stock has a 50-day simple moving average of $21.03 and a 200 day simple moving average of $22.50.

STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings data on Tuesday, March 3rd. The medical instruments supplier reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.51). STAAR Surgical had a negative net margin of 33.60% and a negative return on equity of 10.03%. The firm had revenue of $57.80 million for the quarter, compared to analyst estimates of $75.54 million. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, equities research analysts forecast that STAAR Surgical will post -0.03 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.