STAAR Surgical (STAA) – Research Analysts’ Weekly Ratings Changes

STAAR Surgical (NASDAQ: STAA) recently received a number of ratings updates from brokerages and research firms:

• 4/11/2024 – STAAR Surgical had its price target raised by analysts at Mizuho from $45.00 to $53.00. They now have a “buy” rating on the stock.
• 4/8/2024 – STAAR Surgical had its price target raised by analysts at Canaccord Genuity Group Inc. from $32.00 to $46.00. They now have a “hold” rating on the stock.
• 4/4/2024 – STAAR Surgical was upgraded by analysts at William Blair from a “market perform” rating to an “outperform” rating.
• 4/4/2024 – STAAR Surgical had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 4/1/2024 – STAAR Surgical had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $50.00 price target on the stock.
• 3/11/2024 – STAAR Surgical was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating. They now have a $50.00 price target on the stock, up previously from $30.00.
• 2/28/2024 – STAAR Surgical had its price target lowered by analysts at Mizuho from $50.00 to $45.00. They now have a “buy” rating on the stock.
• 2/27/2024 – STAAR Surgical had its price target lowered by analysts at Piper Sandler from $40.00 to $33.00. They now have a “neutral” rating on the stock.

STAAR Surgical Price Performance

STAAR Surgical stock traded up $0.47 during trading hours on Wednesday, hitting $48.66. The company had a trading volume of 221,808 shares, compared to its average volume of 750,345. The firm has a market capitalization of $2.38 billion, a P/E ratio of 113.16 and a beta of 0.86. STAAR Surgical has a fifty-two week low of $26.66 and a fifty-two week high of $73.13. The firm’s fifty day moving average is $38.87 and its 200-day moving average is $35.51.

STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Monday, February 26th. The medical instruments supplier reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). STAAR Surgical had a return on equity of 8.73% and a net margin of 6.62%. The firm had revenue of $76.27 million for the quarter, compared to analyst estimates of $75.94 million. During the same quarter last year, the business earned $0.04 EPS. The company’s revenue for the quarter was up 19.1% compared to the same quarter last year. Analysts anticipate that STAAR Surgical will post 0.03 earnings per share for the current year.

Insider Activity at STAAR Surgical

In other news, Director Aimee S. Weisner bought 1,750 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average price of $38.11 per share, with a total value of $66,692.50. Following the transaction, the director now owns 10,864 shares of the company’s stock, valued at approximately $414,027.04. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of STAAR Surgical

A number of hedge funds have recently bought and sold shares of the company. Defender Capital LLC. raised its stake in shares of STAAR Surgical by 33.0% in the fourth quarter. Defender Capital LLC. now owns 722,532 shares of the medical instruments supplier’s stock worth $22,550,000 after buying an additional 179,135 shares during the period. Seven Eight Capital LP grew its holdings in STAAR Surgical by 369.2% during the third quarter. Seven Eight Capital LP now owns 46,167 shares of the medical instruments supplier’s stock worth $1,855,000 after acquiring an additional 36,327 shares during the period. Invesco Ltd. boosted its position in STAAR Surgical by 121.6% during the third quarter. Invesco Ltd. now owns 165,661 shares of the medical instruments supplier’s stock worth $6,656,000 after purchasing an additional 90,896 shares in the last quarter. Citigroup Inc. lifted its position in shares of STAAR Surgical by 14.5% in the third quarter. Citigroup Inc. now owns 19,163 shares of the medical instruments supplier’s stock valued at $770,000 after acquiring an additional 2,434 shares in the last quarter. Finally, Algert Global LLC increased its stake in STAAR Surgical by 110.1% during the third quarter. Algert Global LLC now owns 58,137 shares of the medical instruments supplier’s stock worth $2,336,000 after acquiring an additional 30,462 shares during the last quarter. Institutional investors own 96.70% of the company’s stock.

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.