STAAR Surgical (NASDAQ:STAA) Receives Consensus Recommendation of “Hold” from Analysts

STAAR Surgical (NASDAQ:STAA) has earned a consensus rating of “Hold” from the eight analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $45.57.

Several brokerages recently issued reports on STAA. Canaccord Genuity Group decreased their price objective on STAAR Surgical from $43.00 to $41.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Morgan Stanley lowered STAAR Surgical from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $50.00 to $37.00 in a research report on Monday, July 15th. BTIG Research boosted their price objective on STAAR Surgical from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research report on Thursday, September 19th. Finally, Stifel Nicolaus decreased their price objective on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, August 26th.

Insiders Place Their Bets

In other news, Director Arthur C. Butcher purchased 1,315 shares of STAAR Surgical stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $37.99 per share, with a total value of $49,956.85. Following the transaction, the director now directly owns 4,208 shares in the company, valued at $159,861.92. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On STAAR Surgical

A number of institutional investors and hedge funds have recently made changes to their positions in STAA. Sei Investments Co. raised its stake in STAAR Surgical by 2.7% in the 2nd quarter. Sei Investments Co. now owns 15,087 shares of the medical instruments supplier’s stock valued at $718,000 after acquiring an additional 394 shares during the period. Texas Permanent School Fund Corp raised its stake in STAAR Surgical by 1.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 42,577 shares of the medical instruments supplier’s stock valued at $1,630,000 after acquiring an additional 407 shares during the period. Creative Planning raised its stake in STAAR Surgical by 8.0% in the 3rd quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock valued at $205,000 after acquiring an additional 408 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in STAAR Surgical by 3.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,343 shares of the medical instruments supplier’s stock valued at $540,000 after acquiring an additional 418 shares during the period. Finally, Linden Thomas Advisory Services LLC raised its stake in STAAR Surgical by 2.3% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 20,721 shares of the medical instruments supplier’s stock valued at $987,000 after acquiring an additional 469 shares during the period. Institutional investors own 96.70% of the company’s stock.

STAAR Surgical Trading Down 0.9 %

Shares of STAA opened at $30.42 on Wednesday. STAAR Surgical has a 1 year low of $26.66 and a 1 year high of $52.68. The stock has a market cap of $1.49 billion, a P/E ratio of 98.13 and a beta of 0.59. The stock’s 50-day moving average price is $32.95 and its two-hundred day moving average price is $39.67.

STAAR Surgical (NASDAQ:STAA) last issued its earnings results on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). STAAR Surgical had a return on equity of 5.60% and a net margin of 4.99%. The company had revenue of $99.01 million for the quarter, compared to the consensus estimate of $95.22 million. During the same quarter last year, the business posted $0.23 EPS. STAAR Surgical’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities analysts forecast that STAAR Surgical will post 0.16 EPS for the current year.

STAAR Surgical Company Profile

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.