Brokerages Set $11.67 Target Price for STAAR Surgical Company (NASDAQ:STAA)
Shares of STAAR Surgical Company (NASDAQ:STAA) have received an average broker rating score of 2.50 (Hold) from the four analysts that cover the company, Zacks Investment Research reports. Three research analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. STAAR Surgical’s rating score has declined by 7.3% from 90 days ago as a result of various analysts’ upgrades and downgrades.
Brokers have set a twelve-month consensus target price of $11.67 for the company, according to Zacks. Zacks has also given STAAR Surgical an industry rank of 80 out of 265 based on the ratings given to related companies.
Several equities research analysts have weighed in on the stock. BidaskClub upgraded shares of STAAR Surgical from a “strong sell” rating to a “sell” rating in a report on Friday. Zacks Investment Research raised shares of STAAR Surgical from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Canaccord Genuity increased their price objective on shares of STAAR Surgical from $9.00 to $11.00 and gave the stock a “hold” rating in a research report on Thursday, August 3rd.
Several large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. bought a new stake in shares of STAAR Surgical during the first quarter valued at about $111,000. Virtu KCG Holdings LLC bought a new stake in shares of STAAR Surgical during the second quarter valued at about $118,000. Stephens Inc. AR increased its stake in shares of STAAR Surgical by 2.6% in the second quarter. Stephens Inc. AR now owns 12,238 shares of the medical instruments supplier’s stock valued at $132,000 after buying an additional 315 shares in the last quarter. Simplex Trading LLC increased its stake in shares of STAAR Surgical by 1,798.8% in the second quarter. Simplex Trading LLC now owns 12,779 shares of the medical instruments supplier’s stock valued at $138,000 after buying an additional 12,106 shares in the last quarter. Finally, Bristol Advisors LLC bought a new stake in shares of STAAR Surgical during the second quarter valued at about $216,000. 75.94% of the stock is owned by institutional investors.
STAAR Surgical (NASDAQ STAA) traded up 8.29% during trading on Friday, hitting $11.75. 269,882 shares of the stock traded hands. STAAR Surgical has a one year low of $7.46 and a one year high of $11.90. The company’s market capitalization is $483.02 million. The company’s 50 day moving average is $10.48 and its 200 day moving average is $9.94.
STAAR Surgical (NASDAQ:STAA) last posted its earnings results on Wednesday, August 2nd. The medical instruments supplier reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.04. The company had revenue of $21.90 million for the quarter, compared to analyst estimates of $22.15 million. STAAR Surgical had a negative net margin of 6.06% and a negative return on equity of 8.69%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the business posted ($0.02) earnings per share. On average, equities analysts forecast that STAAR Surgical will post ($0.12) EPS for the current fiscal year.
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. It operates in the ophthalmic surgical market segment. Its principal products are intraocular lenses used in cataract surgery and implantable collamer lenses used in refractive surgery.
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