STAAR Surgical (NASDAQ:STAA) Given Outperform Rating at Wedbush

STAAR Surgical (NASDAQ:STAA)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a report issued on Thursday,Benzinga reports. They currently have a $40.00 price objective on the medical instruments supplier’s stock. Wedbush’s price objective indicates a potential upside of 36.32% from the company’s previous close.

A number of other equities research analysts also recently commented on STAA. Weiss Ratings raised shares of STAAR Surgical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 25th. Canaccord Genuity Group upped 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. Wall Street Zen raised STAAR Surgical from a “hold” rating to a “buy” rating in a report on Sunday, July 5th. Piper Sandler boosted their target price on STAAR Surgical from $16.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, Mizuho increased their price target on STAAR Surgical from $22.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $27.81.

STAAR Surgical Stock Up 3.0%

Shares of STAA traded up $0.84 during mid-day trading on Thursday, reaching $29.34. The company had a trading volume of 96,483 shares, compared to its average volume of 1,191,048. STAAR Surgical has a 52 week low of $15.59 and a 52 week high of $35.87. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.31 and a current ratio of 5.12. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -68.23 and a beta of 1.23. The firm has a 50-day moving average price of $29.40 and a 200 day moving average price of $23.76.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.05. STAAR Surgical had a positive return on equity of 3.31% and a negative net margin of 7.24%.The firm had revenue of $93.52 million during the quarter, compared to the consensus estimate of $78.72 million. During the same period last year, the company earned ($1.10) earnings per share. The company’s revenue was up 119.6% on a year-over-year basis. On average, sell-side analysts forecast that STAAR Surgical will post 0.13 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Defender Capital LLC. purchased a new position in shares of STAAR Surgical in the fourth quarter worth about $15,429,000. Polar Asset Management Partners Inc. acquired a new position in shares of STAAR Surgical in the 3rd quarter valued at $3,359,000. Tudor Investment Corp ET AL purchased a new stake in STAAR Surgical during the third quarter worth $4,113,000. UBS Group AG raised its holdings in STAAR Surgical by 39.2% in the 4th quarter. UBS Group AG now owns 327,852 shares of the medical instruments supplier’s stock worth $7,570,000 after purchasing an additional 92,321 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in STAAR Surgical during the fourth quarter worth $910,000. Institutional investors own 96.70% of the company’s stock.

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.