Wedbush Cuts STAAR Surgical (NASDAQ:STAA) Price Target to $37.00

STAAR Surgical (NASDAQ:STAA) had its price objective reduced by Wedbush from $40.00 to $37.00 in a research report sent to investors on Thursday,Benzinga reports. Wedbush currently has an outperform rating on the medical instruments supplier’s stock.

Several other research analysts have also recently commented on STAA. Mizuho increased their target price on shares of STAAR Surgical from $22.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Stifel Nicolaus lifted their price target on shares of STAAR Surgical from $18.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, May 14th. Canaccord Genuity Group increased their price objective on shares of STAAR Surgical from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Zacks Research upgraded STAAR Surgical from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Finally, Wells Fargo & Company raised their price objective on STAAR Surgical from $16.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, STAAR Surgical currently has an average rating of “Hold” and an average target price of $27.80.

STAAR Surgical Stock Up 3.4%

NASDAQ:STAA opened at $26.18 on Thursday. STAAR Surgical has a twelve month low of $15.59 and a twelve month high of $35.87. The business has a 50 day moving average price of $26.81 and a two-hundred day moving average price of $24.14. The company has a market cap of $1.30 billion, a P/E ratio of 374.05 and a beta of 1.26.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings results on Wednesday, August 12th. The medical instruments supplier reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.06). STAAR Surgical had a return on equity of 9.05% and a net margin of 1.13%.The business had revenue of $93.53 million for the quarter, compared to the consensus estimate of $90.60 million. During the same period in the prior year, the business earned ($0.34) earnings per share. STAAR Surgical’s revenue was up 111.1% compared to the same quarter last year. As a group, analysts anticipate that STAAR Surgical will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd raised its stake in STAAR Surgical by 2,605.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock valued at $28,000 after acquiring an additional 1,016 shares during the period. Ascentis Independent Advisors bought a new position in STAAR Surgical during the first quarter worth $77,000. Tower Research Capital LLC TRC boosted its position in STAAR Surgical by 375.0% during the second quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock worth $99,000 after purchasing an additional 4,673 shares during the period. Russell Investments Group Ltd. boosted its position in STAAR Surgical by 9,928.9% during the third quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock worth $121,000 after purchasing an additional 4,468 shares during the period. Finally, Fifth Third Bancorp increased its holdings in shares of STAAR Surgical by 2,867.1% in the first quarter. Fifth Third Bancorp now owns 11,008 shares of the medical instruments supplier’s stock valued at $206,000 after purchasing an additional 10,637 shares during 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. 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.