STAAR Surgical (NASDAQ:STAA) Given Hold Rating at Needham & Company LLC

STAAR Surgical (NASDAQ:STAA)‘s stock had its “hold” rating reissued by investment analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports.

STAA has been the topic of a number of other reports. Morgan Stanley cut shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $50.00 to $37.00 in a research note on Monday, July 15th. BTIG Research upped their price objective on STAAR Surgical from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Canaccord Genuity Group lowered their target price on STAAR Surgical from $43.00 to $41.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Finally, Stifel Nicolaus cut their price target on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, August 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $45.57.

STAAR Surgical Stock Down 2.5 %

STAA stock opened at $31.39 on Thursday. The firm has a market cap of $1.54 billion, a PE ratio of 101.26 and a beta of 0.58. The business has a 50 day moving average of $37.20 and a 200-day moving average of $40.53. STAAR Surgical has a 12-month low of $26.66 and a 12-month high of $52.68.

STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings data 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). The business had revenue of $99.01 million during the quarter, compared to the consensus estimate of $95.22 million. STAAR Surgical had a net margin of 4.99% and a return on equity of 5.60%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 EPS. On average, research analysts expect that STAAR Surgical will post 0.17 earnings per share for the current year.

Insider Activity

In other news, Director Arthur C. Butcher bought 1,315 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $37.99 per share, with a total value of $49,956.85. Following the acquisition, the director now owns 4,208 shares of the company’s stock, valued at approximately $159,861.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On STAAR Surgical

A number of institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. grew its holdings in shares of STAAR Surgical by 2.7% during the second quarter. Sei Investments Co. now owns 15,087 shares of the medical instruments supplier’s stock worth $718,000 after purchasing an additional 394 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of STAAR Surgical by 1.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 42,577 shares of the medical instruments supplier’s stock worth $1,630,000 after acquiring an additional 407 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in STAAR Surgical by 3.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,343 shares of the medical instruments supplier’s stock worth $540,000 after acquiring an additional 418 shares in the last quarter. Linden Thomas Advisory Services LLC increased its stake in STAAR Surgical by 2.3% in the second 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 last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in STAAR Surgical by 2.1% during the second quarter. Louisiana State Employees Retirement System now owns 24,700 shares of the medical instruments supplier’s stock worth $1,176,000 after purchasing an additional 500 shares during the last quarter. 96.70% of the stock is currently owned by institutional investors.

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.