Stifel Nicolaus Cuts STAAR Surgical (NASDAQ:STAA) Price Target to $18.00

STAAR Surgical (NASDAQ:STAA) had its price objective decreased by Stifel Nicolaus from $19.00 to $18.00 in a research note published on Wednesday morning, MarketBeat.com reports. Stifel Nicolaus currently has a hold rating on the medical instruments supplier’s stock.

Other research analysts have also recently issued research reports about the company. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. Wedbush assumed coverage on shares of STAAR Surgical in a research report on Tuesday, February 3rd. They issued a “neutral” rating and a $26.00 price target on the stock. Morgan Stanley initiated coverage on shares of STAAR Surgical in a report on Friday, January 16th. They issued an “underweight” rating and a $13.00 price target for the company. Weiss Ratings restated a “sell (d)” rating on shares of STAAR Surgical in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group lowered their price objective on shares of STAAR Surgical from $28.00 to $21.50 and set a “buy” rating on the stock in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $18.94.

STAAR Surgical Price Performance

STAA opened at $18.46 on Wednesday. The company has a market capitalization of $913.95 million, a price-to-earnings ratio of -11.33 and a beta of 1.05. STAAR Surgical has a 1-year low of $14.69 and a 1-year high of $30.81. The business has a 50 day moving average price of $19.68 and a two-hundred day moving average price of $24.05.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings results on Tuesday, March 3rd. The medical instruments supplier reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.51). STAAR Surgical had a negative net margin of 33.60% and a negative return on equity of 10.03%. The firm had revenue of $57.80 million for the quarter, compared to the consensus estimate of $75.54 million. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. Equities analysts expect that STAAR Surgical will post -1.14 EPS for the current fiscal year.

Insider Buying and Selling at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. bought 27,485 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were acquired at an average cost of $22.05 per share, for a total transaction of $606,044.25. Following the acquisition, the insider directly owned 15,453,629 shares of the company’s stock, valued at $340,752,519.45. The trade was a 0.18% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last three months, insiders acquired 434,138 shares of company stock worth $9,424,176. Company insiders own 0.59% of the company’s stock.

Institutional Investors Weigh In On STAAR Surgical

Several hedge funds have recently modified their holdings of the stock. Amalgamated Bank boosted its position in shares of STAAR Surgical by 3.6% in the 3rd quarter. Amalgamated Bank now owns 14,609 shares of the medical instruments supplier’s stock valued at $393,000 after purchasing an additional 514 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in STAAR Surgical by 58.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,669 shares of the medical instruments supplier’s stock worth $39,000 after purchasing an additional 614 shares in the last quarter. CWM LLC raised its holdings in STAAR Surgical by 74.1% during the 2nd quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier’s stock worth $26,000 after buying an additional 665 shares during the period. GAMMA Investing LLC raised its holdings in STAAR Surgical by 61.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock worth $50,000 after buying an additional 706 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in STAAR Surgical by 7.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,711 shares of the medical instruments supplier’s stock valued at $213,000 after buying an additional 923 shares in the last quarter. 96.70% of the stock is owned by hedge funds and other 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.