STAAR Surgical (NASDAQ:STAA) Price Target Raised to $27.00 at Mizuho

STAAR Surgical (NASDAQ:STAA) had its price target upped by equities researchers at Mizuho from $22.00 to $27.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical instruments supplier’s stock. Mizuho’s target price would suggest a potential downside of 8.16% from the company’s previous close.

A number of other equities analysts also recently issued reports on STAA. Morgan Stanley started coverage on shares of STAAR Surgical in a research note on Friday, January 16th. They set an “underweight” rating and a $13.00 price objective on the stock. Weiss Ratings downgraded shares of STAAR Surgical from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 22nd. Wedbush upped their target price on STAAR Surgical from $21.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Jefferies Financial Group dropped their target price on STAAR Surgical from $28.00 to $21.50 and set a “buy” rating on the stock in a research report on Wednesday, January 28th. Finally, Stifel Nicolaus reduced their price target on STAAR Surgical from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Wednesday, March 4th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.06.

STAAR Surgical Trading Up 4.3%

Shares of STAAR Surgical stock opened at $29.40 on Thursday. The stock’s fifty day moving average price is $22.22 and its 200-day moving average price is $22.54. The firm has a market cap of $1.46 billion, a P/E ratio of -18.04 and a beta of 1.20. STAAR Surgical has a 12 month low of $15.59 and a 12 month high of $30.81.

STAAR Surgical (NASDAQ:STAA) last issued its earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.07. The company had revenue of $93.52 million for the quarter, compared to analysts’ expectations of $78.72 million. STAAR Surgical had a negative net margin of 33.60% and a negative return on equity of 10.03%. The firm’s quarterly revenue was up 119.6% on a year-over-year basis. During the same period in the prior year, the business earned ($1.10) EPS. Analysts forecast that STAAR Surgical will post -0.03 earnings per share for the current year.

Insider Buying and Selling at STAAR Surgical

In related news, Director Broadwood Partners, L.P. acquired 316,017 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were purchased at an average price of $18.61 per share, for a total transaction of $5,881,076.37. Following the completion of the acquisition, the director directly owned 16,123,842 shares in the company, valued at $300,064,699.62. The trade was a 2.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought a total of 670,213 shares of company stock worth $12,266,249 in the last 90 days. 39.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On STAAR Surgical

Large investors have recently made changes to their positions in the stock. Crcm LP acquired a new position in shares of STAAR Surgical in the 1st quarter valued at $1,870,000. Dimensional Fund Advisors LP lifted its position in STAAR Surgical by 39.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 820,782 shares of the medical instruments supplier’s stock worth $15,348,000 after acquiring an additional 230,582 shares during the period. Fifth Third Bancorp lifted its position 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 acquiring an additional 10,637 shares during the period. Ascentis Independent Advisors purchased a new stake in STAAR Surgical during the 1st quarter valued at about $77,000. Finally, Cannon Global Investment Management LLC grew its stake in STAAR Surgical by 32.1% during the 1st quarter. Cannon Global Investment Management LLC now owns 21,800 shares of the medical instruments supplier’s stock valued at $408,000 after purchasing an additional 5,300 shares during 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.