Staar Surgical Co. (NASDAQ:STAA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “Staar Surgical Company has evolved to become a developer, manufacturer and global distributor of products used by ophthalmologists and other eye care professionals to improve or correct vision in patients suffering from refractive conditions, cataracts and glaucoma. “

Other research analysts also recently issued research reports about the stock. Benchmark Co. set a $10.00 price objective on shares of Staar Surgical and gave the company a “buy” rating in a report on Sunday, November 6th. William Blair reissued a “market perform” rating on shares of Staar Surgical in a report on Thursday, August 4th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $8.83.

Staar Surgical (NASDAQ:STAA) opened at 10.75 on Wednesday. The stock’s market cap is $436.55 million. Staar Surgical has a one year low of $4.98 and a one year high of $11.00. The company’s 50-day moving average price is $9.65 and its 200-day moving average price is $7.86.

Staar Surgical (NASDAQ:STAA) last released its quarterly earnings data on Thursday, November 3rd. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. Staar Surgical had a negative net margin of 15.78% and a negative return on equity of 7.99%. The business earned $20.05 million during the quarter, compared to the consensus estimate of $20.70 million. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts forecast that Staar Surgical will post ($0.31) EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Palo Alto Investors LLC increased its position in shares of Staar Surgical by 21.4% in the second quarter. Palo Alto Investors LLC now owns 3,207,210 shares of the company’s stock worth $17,672,000 after buying an additional 565,335 shares during the last quarter. Broadwood Capital Inc. increased its position in shares of Staar Surgical by 4.2% in the second quarter. Broadwood Capital Inc. now owns 10,855,179 shares of the company’s stock worth $59,812,000 after buying an additional 437,509 shares during the last quarter. Tiverton Asset Management LLC increased its position in shares of Staar Surgical by 67.7% in the third quarter. Tiverton Asset Management LLC now owns 331,393 shares of the company’s stock worth $3,115,000 after buying an additional 133,746 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Staar Surgical by 6.6% in the third quarter. BlackRock Fund Advisors now owns 1,104,666 shares of the company’s stock worth $10,384,000 after buying an additional 68,780 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Staar Surgical during the third quarter worth approximately $275,000. 73.44% of the stock is owned by hedge funds and other institutional investors.

About Staar Surgical

STAAR Surgical Company designs, develops, manufactures and sells implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. The Company operates in the ophthalmic surgical market segment. Its principal products are intraocular lenses (IOLs) used in cataract surgery and implantable collamer lenses (ICLs) used in refractive surgery.

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