Zacks Investment Research upgraded shares of Staar Surgical Co. (NASDAQ:STAA) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

According to Zacks, “Staar Surgical Company has evolved to become a developer, manufacturer and global distributor of products used by ophthalmologists and other eye care professionals to improve or correct vision in patients suffering from refractive conditions, cataracts and glaucoma. “

STAA has been the topic of several other research reports. William Blair restated a market perform rating on shares of Staar Surgical in a research report on Thursday, August 4th. Benchmark Co. set a $10.00 target price on Staar Surgical and gave the stock a buy rating in a research report on Sunday, November 6th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Staar Surgical presently has a consensus rating of Hold and a consensus target price of $8.83.

Shares of Staar Surgical (NASDAQ:STAA) traded down 0.46% on Friday, reaching $10.80. The company’s stock had a trading volume of 4,368 shares. The stock has a 50 day moving average of $9.40 and a 200-day moving average of $7.70. Staar Surgical has a 12 month low of $4.98 and a 12 month high of $10.95. The firm’s market cap is $438.58 million.

Staar Surgical (NASDAQ:STAA) last posted its earnings results on Thursday, November 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. The firm had revenue of $20.05 million for the quarter, compared to the consensus estimate of $20.70 million. Staar Surgical had a negative return on equity of 7.99% and a negative net margin of 15.78%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. On average, analysts anticipate that Staar Surgical will post ($0.31) EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STAA. Kennedy Capital Management Inc. purchased a new position in Staar Surgical during the first quarter worth approximately $1,104,000. Shine Investment Advisory Services Inc. boosted its position in Staar Surgical by 24.9% in the second quarter. Shine Investment Advisory Services Inc. now owns 112,400 shares of the company’s stock worth $619,000 after buying an additional 22,400 shares in the last quarter. California State Teachers Retirement System boosted its position in Staar Surgical by 2.0% in the second quarter. California State Teachers Retirement System now owns 83,932 shares of the company’s stock worth $462,000 after buying an additional 1,684 shares in the last quarter. GSA Capital Partners LLP boosted its position in Staar Surgical by 22.6% in the second quarter. GSA Capital Partners LLP now owns 38,387 shares of the company’s stock worth $212,000 after buying an additional 7,087 shares in the last quarter. Finally, SECOR Capital Advisors LP boosted its position in Staar Surgical by 17.0% in the second quarter. SECOR Capital Advisors LP now owns 25,866 shares of the company’s stock worth $142,000 after buying an additional 3,757 shares in the last quarter. 73.68% of the stock is currently owned by institutional investors and hedge funds.

About Staar Surgical

STAAR Surgical Company designs, develops, manufactures and sells implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. The Company operates in the ophthalmic surgical market segment. Its principal products are intraocular lenses (IOLs) used in cataract surgery and implantable collamer lenses (ICLs) used in refractive surgery.

5 Day Chart for NASDAQ:STAA

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