STAAR Surgical (NASDAQ:STAA) Receives $45.57 Consensus Target Price from Brokerages

Shares of STAAR Surgical (NASDAQ:STAA) have earned a consensus rating of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $45.57.

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

Insider Transactions at STAAR Surgical

In related news, Director Arthur C. Butcher acquired 1,315 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was bought at an average cost 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Trading of STAAR Surgical

Hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers purchased a new position in shares of STAAR Surgical during the second quarter worth approximately $1,135,000. Truist Financial Corp bought a new position in shares of STAAR Surgical during the 2nd quarter valued at $268,000. Algert Global LLC raised its position in STAAR Surgical by 13.5% in the 2nd quarter. Algert Global LLC now owns 116,655 shares of the medical instruments supplier’s stock worth $5,554,000 after purchasing an additional 13,901 shares during the period. The Manufacturers Life Insurance Company lifted its position in STAAR Surgical by 16.2% in the second quarter. The Manufacturers Life Insurance Company now owns 27,008 shares of the medical instruments supplier’s stock valued at $1,286,000 after purchasing an additional 3,758 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of STAAR Surgical by 84.2% during the second quarter. Millennium Management LLC now owns 178,772 shares of the medical instruments supplier’s stock valued at $8,511,000 after purchasing an additional 81,738 shares during the period. Institutional investors own 96.70% of the company’s stock.

STAAR Surgical Stock Performance

Shares of STAA opened at $30.05 on Tuesday. STAAR Surgical has a fifty-two week low of $26.66 and a fifty-two week high of $52.68. The business has a 50-day moving average of $38.68 and a 200 day moving average of $40.56. The firm has a market cap of $1.48 billion, a P/E ratio of 96.94 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 return on equity of 5.60% and a net margin of 4.99%. The business had revenue of $99.01 million during the quarter, compared to analysts’ expectations of $95.22 million. During the same quarter in the previous year, the business earned $0.23 EPS. STAAR Surgical’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, research analysts predict that STAAR Surgical will post 0.13 earnings per share 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.