Brokerages Set STAAR Surgical Company (NASDAQ:STAA) Target Price at $19.21

Shares of STAAR Surgical Company (NASDAQ:STAA) have been given a consensus rating of “Reduce” by the eleven analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $19.2143.

Several equities research analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of STAAR Surgical in a research note on Friday, January 16th. They issued an “underweight” rating and a $13.00 target price for the company. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. Canaccord Genuity Group cut their price target on shares of STAAR Surgical from $30.75 to $22.00 and set a “hold” rating for the company in a research note on Thursday, January 15th. BTIG Research restated a “neutral” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. Finally, Jefferies Financial Group cut their price target on shares of STAAR Surgical from $28.00 to $21.50 and set a “buy” rating for the company in a research note on Wednesday, January 28th.

STAAR Surgical Stock Performance

NASDAQ STAA opened at $21.09 on Wednesday. The firm has a 50-day simple moving average of $18.40 and a 200 day simple moving average of $22.63. STAAR Surgical has a twelve month low of $14.69 and a twelve month high of $30.81. The stock has a market cap of $1.04 billion, a PE ratio of -12.94 and a beta of 1.04.

STAAR Surgical (NASDAQ:STAA) last released its earnings results on Tuesday, March 3rd. The medical instruments supplier reported ($0.37) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $57.80 million during the quarter, compared to the consensus estimate of $75.54 million. The company’s revenue was up 18.0% compared to the same quarter last year. Research analysts forecast that STAAR Surgical will post -1.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other STAAR Surgical news, Director Broadwood Partners, L.P. purchased 316,017 shares of the business’s stock in a transaction on Friday, March 13th. The stock was purchased at an average price of $18.61 per share, for a total transaction of $5,881,076.37. Following the completion of the purchase, the director directly owned 16,123,842 shares in the company, valued at approximately $300,064,699.62. This trade represents a 2.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 700,938 shares of company stock worth $12,943,379 in the last three months. 0.59% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STAA. Caitong International Asset Management Co. Ltd lifted its stake in STAAR Surgical by 2,605.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock worth $28,000 after purchasing an additional 1,016 shares during the period. GAMMA Investing LLC lifted its stake in STAAR Surgical by 61.4% during the third quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock worth $50,000 after purchasing an additional 706 shares during the period. PNC Financial Services Group Inc. lifted its stake in STAAR Surgical by 691.0% during the second quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the medical instruments supplier’s stock worth $61,000 after purchasing an additional 3,151 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of STAAR Surgical by 375.0% during the second quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock worth $99,000 after buying an additional 4,673 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of STAAR Surgical by 9,928.9% during the third quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock worth $121,000 after buying an additional 4,468 shares in the last quarter. Institutional investors own 96.70% of the company’s stock.

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.