STAAR Surgical (NASDAQ:STAA) Rating Reiterated by Needham & Company LLC

STAAR Surgical (NASDAQ:STAA)‘s stock had its “hold” rating reissued by equities researchers at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports.

Several other brokerages have also commented on STAA. Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 price target on shares of STAAR Surgical in a research note on Monday, April 1st. Piper Sandler increased their price target on STAAR Surgical from $33.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday. Canaccord Genuity Group decreased their price target on STAAR Surgical from $46.00 to $43.00 and set a “hold” rating for the company in a report on Wednesday. Mizuho increased their price target on STAAR Surgical from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, William Blair raised STAAR Surgical from a “market perform” rating to an “outperform” rating in a report on Thursday, April 4th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $47.13.

STAAR Surgical Stock Down 12.1 %

Shares of STAAR Surgical stock traded down $5.63 during trading hours on Wednesday, reaching $41.02. 1,397,226 shares of the company’s stock were exchanged, compared to its average volume of 732,038. The business has a fifty day moving average of $41.94 and a two-hundred day moving average of $35.84. The company has a market capitalization of $2.02 billion, a P/E ratio of 95.40 and a beta of 0.80. STAAR Surgical has a 1 year low of $26.66 and a 1 year high of $68.27.

STAAR Surgical (NASDAQ:STAA) last posted its earnings results on Tuesday, May 7th. The medical instruments supplier reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). The company had revenue of $77.40 million during the quarter, compared to analyst estimates of $75.34 million. STAAR Surgical had a net margin of 6.62% and a return on equity of 8.73%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 EPS. As a group, research analysts predict that STAAR Surgical will post 0.03 EPS for the current year.

Insider Buying and Selling at STAAR Surgical

In other STAAR Surgical news, Director Aimee S. Weisner purchased 1,750 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $38.11 per share, for a total transaction of $66,692.50. Following the completion of the transaction, the director now owns 10,864 shares in the company, valued at approximately $414,027.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On STAAR Surgical

A number of hedge funds have recently bought and sold shares of STAA. Oregon Public Employees Retirement Fund lifted its position in STAAR Surgical by 2.8% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 14,400 shares of the medical instruments supplier’s stock worth $579,000 after buying an additional 391 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of STAAR Surgical by 1.0% during the first quarter. Texas Permanent School Fund Corp now owns 42,577 shares of the medical instruments supplier’s stock worth $1,630,000 after buying an additional 407 shares in the last quarter. New York State Common Retirement Fund grew its holdings in STAAR Surgical by 1.1% during the third quarter. New York State Common Retirement Fund now owns 44,893 shares of the medical instruments supplier’s stock worth $1,804,000 after purchasing an additional 480 shares during the period. Hsbc Holdings PLC raised its position in shares of STAAR Surgical by 6.0% in the third quarter. Hsbc Holdings PLC now owns 8,540 shares of the medical instruments supplier’s stock valued at $347,000 after purchasing an additional 483 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of STAAR Surgical by 1.5% in the first quarter. Russell Investments Group Ltd. now owns 36,931 shares of the medical instruments supplier’s stock valued at $1,406,000 after acquiring an additional 555 shares in the last quarter. 96.70% of the stock is currently owned by institutional investors.

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.