STAAR Surgical’s (STAA) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of STAAR Surgical (NASDAQ:STAA) in a research report report published on Thursday, Benzinga reports.

STAA has been the topic of a number of other research reports. Stifel Nicolaus cut their price target on shares of STAAR Surgical from $50.00 to $44.00 and set a buy rating on the stock in a report on Monday, August 26th. Canaccord Genuity Group dropped their price target on STAAR Surgical from $43.00 to $41.00 and set a hold rating on the stock in a research report on Thursday, August 8th. Morgan Stanley lowered STAAR Surgical from an equal weight rating to an underweight rating and decreased their price objective for the stock from $50.00 to $37.00 in a research report on Monday, July 15th. Finally, BTIG Research boosted their price objective on shares of STAAR Surgical from $46.00 to $53.00 and gave the company a buy rating in a research report on Monday, July 15th. One equities research 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 data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $45.57.

STAAR Surgical Stock Performance

Shares of NASDAQ:STAA opened at $30.39 on Thursday. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 98.03 and a beta of 0.58. The company has a 50 day moving average price of $36.26 and a 200 day moving average price of $40.43. STAAR Surgical has a 1-year low of $26.66 and a 1-year high of $52.68.

STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Wednesday, August 7th. The medical instruments supplier reported $0.15 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.09). The company had revenue of $99.01 million for the quarter, compared to analysts’ expectations of $95.22 million. STAAR Surgical had a net margin of 4.99% and a return on equity of 5.60%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.23 earnings per share. On average, sell-side analysts expect that STAAR Surgical will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling at STAAR Surgical

In other STAAR Surgical news, Director Arthur C. Butcher purchased 1,315 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $37.99 per share, for a total transaction of $49,956.85. Following the purchase, the director now directly owns 4,208 shares in the company, valued at approximately $159,861.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

Several hedge funds have recently bought and sold shares of the business. Sei Investments Co. lifted its position in shares of STAAR Surgical by 2.7% in the second quarter. Sei Investments Co. now owns 15,087 shares of the medical instruments supplier’s stock worth $718,000 after buying an additional 394 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in STAAR Surgical by 1.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 42,577 shares of the medical instruments supplier’s stock worth $1,630,000 after purchasing an additional 407 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in STAAR Surgical by 3.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,343 shares of the medical instruments supplier’s stock worth $540,000 after purchasing an additional 418 shares during the period. Linden Thomas Advisory Services LLC boosted its position in STAAR Surgical by 2.3% during the second quarter. Linden Thomas Advisory Services LLC now owns 20,721 shares of the medical instruments supplier’s stock worth $987,000 after purchasing an additional 469 shares during the period. Finally, Louisiana State Employees Retirement System grew its holdings in STAAR Surgical by 2.1% during the second quarter. Louisiana State Employees Retirement System now owns 24,700 shares of the medical instruments supplier’s stock valued at $1,176,000 after purchasing an additional 500 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.