Analysts Set STAAR Surgical Company (NASDAQ:STAA) PT at $28.40

STAAR Surgical Company (NASDAQ:STAA) has been given an average recommendation of “Hold” by the thirteen ratings firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $28.40.

STAA has been the topic of a number of research reports. Wall Street Zen downgraded STAAR Surgical from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Piper Sandler restated a “neutral” rating on shares of STAAR Surgical in a research report on Thursday, August 13th. Wells Fargo & Company raised their price objective on shares of STAAR Surgical from $16.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, May 15th. William Blair set a $33.00 target price on shares of STAAR Surgical in a report on Thursday, August 13th. Finally, Weiss Ratings upgraded STAAR Surgical from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, August 13th.

Institutional Trading of STAAR Surgical

Several hedge funds and other institutional investors have recently bought and sold shares of the company. American Capital Management Inc. grew its holdings in STAAR Surgical by 18.7% in the first quarter. American Capital Management Inc. now owns 878,035 shares of the medical instruments supplier’s stock valued at $16,419,000 after purchasing an additional 138,499 shares during the period. Renaissance Technologies LLC boosted its holdings in STAAR Surgical by 257.7% in the first quarter. Renaissance Technologies LLC now owns 135,200 shares of the medical instruments supplier’s stock valued at $2,528,000 after acquiring an additional 97,400 shares during the last quarter. Crcm LP purchased a new stake in STAAR Surgical during the first quarter valued at about $1,870,000. Quantinno Capital Management LP acquired a new stake in STAAR Surgical during the first quarter worth about $1,109,000. Finally, GSA Capital Partners LLP acquired a new stake in STAAR Surgical during the 4th quarter worth approximately $910,000. 96.70% of the stock is owned by hedge funds and other institutional investors.

STAAR Surgical Trading Down 1.7%

STAA opened at $23.11 on Friday. STAAR Surgical has a 12-month low of $15.59 and a 12-month high of $35.87. The firm has a 50 day moving average of $25.32 and a two-hundred day moving average of $24.67. The firm has a market capitalization of $1.16 billion, a PE ratio of 330.19 and a beta of 1.21.

STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings data on Wednesday, August 12th. The medical instruments supplier reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.17. The business had revenue of $93.53 million for the quarter, compared to the consensus estimate of $90.60 million. STAAR Surgical had a net margin of 1.13% and a return on equity of 9.05%. The company’s revenue was up 111.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.34) earnings per share. As a group, analysts predict that STAAR Surgical will post 0.39 EPS for the current fiscal 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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.