STAAR Surgical’s (STAA) “Outperform” Rating Reiterated at Wedbush

by · The Markets Daily

Wedbush reaffirmed their outperform rating on shares of STAAR Surgical (NASDAQ:STAA – Free Report) in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a $40.00 target price on the medical instruments supplier’s stock.

Several other equities analysts also recently commented on the stock. Piper Sandler boosted their target price on shares of STAAR Surgical from $16.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Wells Fargo & Company raised their target price on shares of STAAR Surgical from $16.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, May 15th. Wall Street Zen downgraded shares of STAAR Surgical from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Mizuho boosted their price target on shares of STAAR Surgical from $22.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Canaccord Genuity Group increased their price objective on shares of STAAR Surgical from $27.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.94.

Read Our Latest Analysis on STAAR Surgical

STAAR Surgical Stock Up 1.1%

Shares of STAA opened at $23.12 on Tuesday. The business’s 50 day moving average is $27.31 and its 200 day moving average is $23.96. The company has a market capitalization of $1.15 billion, a PE ratio of -53.77 and a beta of 1.26. STAAR Surgical has a 12-month low of $15.59 and a 12-month high of $35.87. The company has a current ratio of 5.12, a quick ratio of 4.31 and a debt-to-equity ratio of 0.09.

STAAR Surgical (NASDAQ:STAA – Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $93.52 million for the quarter, compared to analysts’ expectations of $78.72 million. During the same period in the previous year, the firm earned ($1.10) EPS. The firm’s revenue was up 119.6% compared to the same quarter last year. Research analysts expect that STAAR Surgical will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its holdings in shares of STAAR Surgical by 2,605.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock valued at $28,000 after purchasing an additional 1,016 shares in the last quarter. Ascentis Independent Advisors bought a new position in STAAR Surgical during the first quarter valued at $77,000. Tower Research Capital LLC TRC lifted its position in 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 valued at $99,000 after purchasing an additional 4,673 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of STAAR Surgical by 9,928.9% in the 3rd 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. Finally, Fifth Third Bancorp grew its stake in shares of STAAR Surgical by 2,867.1% in the 1st quarter. Fifth Third Bancorp now owns 11,008 shares of the medical instruments supplier’s stock worth $206,000 after buying an additional 10,637 shares in the last quarter. 96.70% of the stock is currently owned by institutional investors.

STAAR Surgical Company Profile

(Get Free Report)

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.

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