STAAR Surgical (NASDAQ:STAA) Downgraded to Hold Rating by Zacks Research

STAAR Surgical (NASDAQ:STAA) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks reports.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen cut shares of STAAR Surgical from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Wedbush dropped their target price on shares of STAAR Surgical from $40.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, August 13th. Piper Sandler reissued a “neutral” rating on shares of STAAR Surgical in a research note on Thursday, August 13th. Mizuho raised their price target on STAAR Surgical from $22.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, Stifel Nicolaus reduced their price target on STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, August 17th. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, STAAR Surgical has an average rating of “Reduce” and an average target price of $28.40.

STAAR Surgical Trading Up 2.0%

STAAR Surgical stock opened at $23.58 on Wednesday. STAAR Surgical has a 1 year low of $15.59 and a 1 year high of $35.87. The company has a market cap of $1.18 billion, a PE ratio of 336.91 and a beta of 1.21. The company’s 50-day moving average is $25.17 and its two-hundred day moving average is $24.72.

STAAR Surgical (NASDAQ:STAA) last issued its earnings results 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. STAAR Surgical had a net margin of 1.13% and a return on equity of 9.05%. The company had revenue of $93.53 million for the quarter, compared to analyst estimates of $90.60 million. During the same quarter last year, the firm earned ($0.34) EPS. The company’s revenue for the quarter was up 111.1% on a year-over-year basis. Research analysts forecast that STAAR Surgical will post 0.39 EPS for the current year.

Institutional Investors Weigh In On STAAR Surgical

Several large investors have recently bought and sold shares of STAA. Caitong International Asset Management Co. Ltd raised its holdings in STAAR Surgical by 2,605.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock worth $28,000 after purchasing an additional 1,016 shares during the period. Ascentis Independent Advisors acquired a new position in shares of STAAR Surgical in the 1st quarter valued at $77,000. Tower Research Capital LLC TRC increased its position in shares of STAAR Surgical by 375.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock valued at $99,000 after buying an additional 4,673 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of STAAR Surgical by 9,928.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock valued at $121,000 after buying an additional 4,468 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in STAAR Surgical by 2,867.1% during the 1st quarter. Fifth Third Bancorp now owns 11,008 shares of the medical instruments supplier’s stock worth $206,000 after buying an additional 10,637 shares during the period. Institutional investors own 96.70% of the company’s stock.

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.