STAAR Surgical Company (NASDAQ:STAA) Receives $26.94 Average PT from Analysts

STAAR Surgical Company (NASDAQ:STAA) has received a consensus rating of “Hold” from the thirteen brokerages that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $26.9444.

A number of equities research analysts recently issued reports on STAA shares. Mizuho increased their price target on STAAR Surgical from $22.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Wall Street Zen cut STAAR Surgical from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings upgraded STAAR Surgical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 25th. Stifel Nicolaus increased their target price on STAAR Surgical from $18.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, May 14th. Finally, Wells Fargo & Company raised their price target on STAAR Surgical from $16.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, May 15th.

Hedge Funds Weigh In On STAAR Surgical

Hedge funds and other institutional investors have recently made changes to their positions in the company. Broadwood Capital Inc. boosted its position in shares of STAAR Surgical by 11.1% during the 4th quarter. Broadwood Capital Inc. now owns 15,019,491 shares of the medical instruments supplier’s stock worth $346,800,000 after acquiring an additional 1,500,000 shares in the last quarter. Soleus Capital Management L.P. lifted its stake in STAAR Surgical by 16.5% during the second quarter. Soleus Capital Management L.P. now owns 2,984,733 shares of the medical instruments supplier’s stock worth $50,084,000 after purchasing an additional 421,840 shares during the last quarter. Yunqi Capital Ltd lifted its stake in STAAR Surgical by 0.3% during the fourth quarter. Yunqi Capital Ltd now owns 2,507,130 shares of the medical instruments supplier’s stock worth $57,890,000 after purchasing an additional 7,069 shares during the last quarter. Magnetar Financial LLC boosted its holdings in shares of STAAR Surgical by 105.3% in the 4th quarter. Magnetar Financial LLC now owns 2,472,390 shares of the medical instruments supplier’s stock valued at $57,087,000 after purchasing an additional 1,268,019 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of STAAR Surgical by 112.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,076,743 shares of the medical instruments supplier’s stock valued at $47,952,000 after purchasing an additional 1,100,484 shares in the last quarter. 96.70% of the stock is currently owned by institutional investors and hedge funds.

STAAR Surgical Price Performance

Shares of STAAR Surgical stock opened at $24.21 on Tuesday. The company has a quick ratio of 4.31, a current ratio of 5.12 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -56.30 and a beta of 1.26. STAAR Surgical has a twelve month low of $15.59 and a twelve month high of $35.87. The company has a 50-day simple moving average of $27.19 and a two-hundred day simple moving average of $23.96.

STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. STAAR Surgical had a negative net margin of 7.24% and a positive return on equity of 3.31%. The firm had revenue of $93.52 million for the quarter, compared to analyst estimates of $78.72 million. During the same quarter in the prior year, the business posted ($1.10) EPS. The business’s revenue was up 119.6% compared to the same quarter last year. Analysts forecast that STAAR Surgical will post 0.13 EPS for the current year.

STAAR Surgical Company Profile

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.