STAAR Surgical (NASDAQ:STAA) Receives “Hold” Rating from Needham & Company LLC

STAAR Surgical (NASDAQ:STAA)‘s stock had its “hold” rating reissued by equities research analysts at Needham & Company LLC in a research report issued on Thursday, Benzinga reports.

A number of other research analysts have also commented on STAA. Canaccord Genuity Group decreased their price objective on STAAR Surgical from $43.00 to $41.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. BTIG Research raised their price target on shares of STAAR Surgical from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Morgan Stanley downgraded shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $50.00 to $37.00 in a report on Monday, July 15th. Finally, Stifel Nicolaus dropped their price target on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, STAAR Surgical presently has an average rating of “Hold” and an average price target of $44.14.

STAAR Surgical Trading Down 1.5 %

STAA opened at $28.56 on Thursday. The stock’s fifty day simple moving average is $31.86 and its 200 day simple moving average is $38.57. STAAR Surgical has a 1-year low of $26.66 and a 1-year high of $52.68. The stock has a market cap of $1.41 billion, a PE ratio of 64.91 and a beta of 0.61.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings data on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.09). The company had revenue of $99.01 million during the quarter, compared to the consensus estimate of $95.22 million. STAAR Surgical had a net margin of 6.38% and a return on equity of 6.77%. STAAR Surgical’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 earnings per share. Equities analysts forecast that STAAR Surgical will post 0.16 earnings per share for the current year.

Insider Transactions at STAAR Surgical

In other news, Director Arthur C. Butcher purchased 1,315 shares of STAAR Surgical stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $37.99 per share, for a total transaction of $49,956.85. Following the transaction, the director now owns 4,208 shares of the company’s stock, valued at approximately $159,861.92. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.00% of the stock is currently owned by insiders.

Institutional Trading of STAAR Surgical

Large investors have recently bought and sold shares of the business. Kornitzer Capital Management Inc. KS increased its position in STAAR Surgical by 1.2% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 164,625 shares of the medical instruments supplier’s stock worth $6,116,000 after purchasing an additional 1,900 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of STAAR Surgical by 12.7% during the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock worth $129,000 after buying an additional 393 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of STAAR Surgical during the third quarter worth $37,000. Assenagon Asset Management S.A. increased its holdings in shares of STAAR Surgical by 2.3% during the third quarter. Assenagon Asset Management S.A. now owns 90,434 shares of the medical instruments supplier’s stock worth $3,360,000 after buying an additional 2,047 shares in the last quarter. Finally, Defender Capital LLC. lifted its stake in shares of STAAR Surgical by 4.4% in the 3rd quarter. Defender Capital LLC. now owns 677,617 shares of the medical instruments supplier’s stock valued at $25,173,000 after acquiring an additional 28,430 shares during the last quarter. 96.70% of the stock is owned by institutional investors and hedge funds.

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.