STAAR Surgical Company (NASDAQ:STAA) Receives $27.81 Average Price Target from Brokerages

Shares of STAAR Surgical Company (NASDAQ:STAA) have been given a consensus rating of “Hold” by the eleven brokerages that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $27.8125.

A number of research firms have weighed in on STAA. Canaccord Genuity Group increased their target price on STAAR Surgical from $27.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Stifel Nicolaus increased their target price on STAAR Surgical from $18.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, May 14th. Mizuho increased their target price on STAAR Surgical from $22.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Wedbush reissued an “outperform” rating and issued a $40.00 target price on shares of STAAR Surgical in a report on Friday, May 29th. Finally, Piper Sandler increased their target price on STAAR Surgical from $16.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, May 14th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Broadwood Capital Inc. raised its stake in shares of STAAR Surgical by 11.1% in the fourth quarter. Broadwood Capital Inc. now owns 15,019,491 shares of the medical instruments supplier’s stock worth $346,800,000 after buying an additional 1,500,000 shares during the period. Soleus Capital Management L.P. raised its stake in shares of STAAR Surgical by 16.5% in the second quarter. Soleus Capital Management L.P. now owns 2,984,733 shares of the medical instruments supplier’s stock worth $50,084,000 after buying an additional 421,840 shares during the period. Yunqi Capital Ltd raised its stake in shares of STAAR Surgical by 0.3% in the fourth quarter. Yunqi Capital Ltd now owns 2,507,130 shares of the medical instruments supplier’s stock worth $57,890,000 after buying an additional 7,069 shares during the period. Magnetar Financial LLC raised its stake in shares of STAAR Surgical by 105.3% in the fourth quarter. Magnetar Financial LLC now owns 2,472,390 shares of the medical instruments supplier’s stock worth $57,087,000 after buying an additional 1,268,019 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of STAAR Surgical by 112.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,076,743 shares of the medical instruments supplier’s stock worth $47,952,000 after buying an additional 1,100,484 shares during the period. Institutional investors own 96.70% of the company’s stock.

STAAR Surgical Price Performance

STAA stock opened at $29.12 on Monday. STAAR Surgical has a fifty-two week low of $15.59 and a fifty-two week high of $35.87. The business’s 50-day moving average is $28.47 and its two-hundred day moving average is $23.30. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.31 and a current ratio of 5.12. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -67.72 and a beta of 1.23.

STAAR Surgical (NASDAQ:STAA) last posted its earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. STAAR Surgical had a positive return on equity of 3.31% and a negative net margin of 7.24%.The company had revenue of $93.52 million for the quarter, compared to the consensus estimate of $78.72 million. During the same quarter in the prior year, the company earned ($1.10) earnings per share. STAAR Surgical’s revenue was up 119.6% on a year-over-year basis. As a group, analysts forecast that STAAR Surgical will post 0.13 earnings per share for the current 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.