STAAR Surgical (NASDAQ:STAA) Receives Consensus Recommendation of “Hold” from Analysts

STAAR Surgical (NASDAQ:STAA) has received an average recommendation of “Hold” from the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $47.00.

Several research firms have weighed in on STAA. Canaccord Genuity Group lowered their target price on shares of STAAR Surgical from $46.00 to $43.00 and set a “hold” rating for the company in a research note on Wednesday, May 8th. William Blair upgraded shares of STAAR Surgical from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 4th. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research note on Wednesday, May 8th. Mizuho increased their price target on STAAR Surgical from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Piper Sandler boosted their price objective on STAAR Surgical from $33.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th.

STAAR Surgical Stock Performance

Shares of STAA stock opened at $45.51 on Thursday. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 146.81 and a beta of 0.65. STAAR Surgical has a one year low of $26.66 and a one year high of $58.82. The company’s 50-day simple moving average is $42.87 and its 200-day simple moving average is $37.40.

STAAR Surgical (NASDAQ:STAA) last released its earnings results on Tuesday, May 7th. The medical instruments supplier reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). STAAR Surgical had a return on equity of 6.83% and a net margin of 4.69%. The firm had revenue of $77.40 million for the quarter, compared to the consensus estimate of $75.34 million. During the same period in the prior year, the business earned $0.05 EPS. The company’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, research analysts forecast that STAAR Surgical will post 0.08 EPS for the current year.

Institutional Trading of STAAR Surgical

Several hedge funds have recently added to or reduced their stakes in STAA. Clear Street Markets LLC bought a new stake in shares of STAAR Surgical during the third quarter valued at about $29,000. Cape Investment Advisory Inc. acquired a new stake in shares of STAAR Surgical in the 4th quarter worth approximately $42,000. GAMMA Investing LLC boosted its holdings in shares of STAAR Surgical by 313.9% in the first quarter. GAMMA Investing LLC now owns 1,308 shares of the medical instruments supplier’s stock valued at $50,000 after acquiring an additional 992 shares in the last quarter. Covestor Ltd increased its stake in shares of STAAR Surgical by 82,466.7% during the third quarter. Covestor Ltd now owns 2,477 shares of the medical instruments supplier’s stock valued at $100,000 after acquiring an additional 2,474 shares during the period. Finally, Quest Partners LLC bought a new stake in STAAR Surgical during the fourth quarter worth approximately $146,000. 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.