Canaccord Genuity Reiterates “Buy” Rating for STAAR Surgical Company (STAA)
Canaccord Genuity reiterated their buy rating on shares of STAAR Surgical Company (NASDAQ:STAA) in a research report sent to investors on Sunday morning. They currently have a $15.00 target price on the medical instruments supplier’s stock.
Several other brokerages also recently weighed in on STAA. TheStreet raised STAAR Surgical from a d+ rating to a c rating in a report on Tuesday, August 15th. Benchmark Co. increased their price target on STAAR Surgical from $12.00 to $13.00 and gave the stock a buy rating in a report on Monday, August 14th. BidaskClub raised STAAR Surgical from a sell rating to a hold rating in a report on Saturday, August 19th. Finally, Zacks Investment Research raised STAAR Surgical from a hold rating to a buy rating and set a $12.00 price target for the company in a report on Saturday, September 23rd. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $13.33.
STAAR Surgical (NASDAQ STAA) opened at 13.45 on Friday. The company has a 50 day moving average of $12.16 and a 200 day moving average of $10.61. The firm’s market capitalization is $552.90 million. STAAR Surgical has a 1-year low of $7.45 and a 1-year high of $13.95.
STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings results on Wednesday, August 2nd. The medical instruments supplier reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.04. STAAR Surgical had a negative return on equity of 8.69% and a negative net margin of 6.06%. The firm had revenue of $21.90 million during the quarter, compared to the consensus estimate of $22.15 million. During the same period last year, the company earned ($0.02) earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. Analysts forecast that STAAR Surgical will post ($0.11) EPS for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. acquired a new stake in STAAR Surgical in the first quarter valued at $111,000. Virtu KCG Holdings LLC acquired a new stake in STAAR Surgical in the second quarter valued at $118,000. Stephens Inc. AR lifted its holdings in STAAR Surgical by 2.6% in the second quarter. Stephens Inc. AR now owns 12,238 shares of the medical instruments supplier’s stock valued at $132,000 after acquiring an additional 315 shares during the period. Simplex Trading LLC lifted its holdings in STAAR Surgical by 1,798.8% in the second quarter. Simplex Trading LLC now owns 12,779 shares of the medical instruments supplier’s stock valued at $138,000 after acquiring an additional 12,106 shares during the period. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in STAAR Surgical in the second quarter valued at $214,000. 76.54% of the stock is owned by hedge funds and other institutional investors.
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. It operates in the ophthalmic surgical market segment. Its principal products are intraocular lenses used in cataract surgery and implantable collamer lenses used in refractive surgery.
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