Stifel Nicolaus Cuts STAAR Surgical (NASDAQ:STAA) Price Target to $28.00

STAAR Surgical (NASDAQ:STAA) had its price objective cut by Stifel Nicolaus from $31.00 to $28.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a hold rating on the medical instruments supplier’s stock.

Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity Group lifted their target price on shares of STAAR Surgical from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Mizuho increased their price target on STAAR Surgical from $22.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Wall Street Zen downgraded STAAR Surgical from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Wells Fargo & Company lifted their price objective on STAAR Surgical from $16.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, May 15th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $28.00 price objective on shares of STAAR Surgical in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, STAAR Surgical has a consensus rating of “Hold” and an average price target of $28.40.

STAAR Surgical Stock Performance

STAA opened at $24.66 on Monday. The company’s 50-day simple moving average is $26.50 and its two-hundred day simple moving average is $24.29. The stock has a market capitalization of $1.24 billion, a P/E ratio of 352.34 and a beta of 1.26. STAAR Surgical has a 52-week low of $15.59 and a 52-week high of $35.87.

STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings results on Wednesday, August 12th. The medical instruments supplier reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.17. STAAR Surgical had a net margin of 1.13% and a return on equity of 9.05%. The firm had revenue of $93.53 million during the quarter, compared to analyst estimates of $90.60 million. During the same period in the previous year, the business posted ($0.34) earnings per share. The business’s revenue for the quarter was up 111.1% on a year-over-year basis. Research analysts forecast that STAAR Surgical will post 0.13 EPS for the current fiscal year.

Institutional Trading of STAAR Surgical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Balyasny Asset Management L.P. purchased a new stake in shares of STAAR Surgical in the 3rd quarter worth $48,729,000. Broadwood Capital Inc. lifted its position in STAAR Surgical by 11.1% during the fourth quarter. Broadwood Capital Inc. now owns 15,019,491 shares of the medical instruments supplier’s stock valued at $346,800,000 after purchasing an additional 1,500,000 shares in the last quarter. Magnetar Financial LLC lifted its position in STAAR Surgical by 105.3% during the fourth 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. Goldman Sachs Group Inc. grew its holdings in STAAR Surgical by 112.7% during the fourth 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 during the period. Finally, American Capital Management Inc. bought a new stake in STAAR Surgical during the second quarter valued at about $24,291,000. 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.