STAAR Surgical (NASDAQ:STAA) Receives $45.57 Average Price Target from Analysts

STAAR Surgical (NASDAQ:STAA) has received an average recommendation of “Hold” from the nine analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $45.57.

A number of equities analysts have commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a report on Thursday, August 8th. Morgan Stanley downgraded STAAR Surgical from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $50.00 to $37.00 in a research note on Monday, July 15th. BTIG Research raised their price target on STAAR Surgical from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Canaccord Genuity Group lowered their price objective on STAAR Surgical from $43.00 to $41.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Finally, Stifel Nicolaus dropped their target price on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, August 26th.

STAAR Surgical Stock Down 0.3 %

Shares of STAA stock opened at $31.12 on Tuesday. STAAR Surgical has a fifty-two week low of $26.66 and a fifty-two week high of $52.68. The firm’s 50 day moving average price is $39.03 and its two-hundred day moving average price is $40.50. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 100.39 and a beta of 0.58.

STAAR Surgical (NASDAQ:STAA) last posted its earnings results on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.09). STAAR Surgical had a net margin of 4.99% and a return on equity of 5.60%. The business had revenue of $99.01 million for the quarter, compared to analyst estimates of $95.22 million. During the same quarter in the previous year, the firm posted $0.23 EPS. The business’s revenue was up 7.3% compared to the same quarter last year. On average, equities analysts forecast that STAAR Surgical will post 0.13 EPS for the current fiscal year.

Insider Transactions at STAAR Surgical

In other STAAR Surgical news, Director Arthur C. Butcher acquired 1,315 shares of STAAR Surgical stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $37.99 per share, for a total transaction of $49,956.85. Following the transaction, the director now owns 4,208 shares in the company, valued at approximately $159,861.92. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company 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 modified their holdings of STAA. Cape Investment Advisory Inc. purchased a new stake in shares of STAAR Surgical in the 4th quarter valued at approximately $42,000. GAMMA Investing LLC lifted its stake in STAAR Surgical by 313.9% in the 1st quarter. GAMMA Investing LLC now owns 1,308 shares of the medical instruments supplier’s stock worth $50,000 after acquiring an additional 992 shares in the last quarter. Covestor Ltd boosted its position in STAAR Surgical by 38.9% during the 1st quarter. Covestor Ltd now owns 2,690 shares of the medical instruments supplier’s stock worth $103,000 after acquiring an additional 754 shares during the period. Canada Pension Plan Investment Board acquired a new stake in STAAR Surgical during the 2nd quarter worth about $129,000. Finally, Larson Financial Group LLC purchased a new position in STAAR Surgical during the 2nd quarter valued at about $130,000. 96.70% of the stock is owned by institutional investors and hedge funds.

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.