Zacks Investment Research Upgrades STAAR Surgical Company (STAA) to “Buy”
STAAR Surgical Company (NASDAQ:STAA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The brokerage currently has a $12.00 price objective on the medical instruments supplier’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 10.09% from the company’s previous close.
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 reports about the company. TheStreet raised STAAR Surgical from a “d+” rating to a “c” rating in a report on Tuesday, August 15th. BidaskClub raised STAAR Surgical from a “strong sell” rating to a “sell” rating in a report on Friday, August 11th. Canaccord Genuity boosted their price target on STAAR Surgical from $9.00 to $11.00 and gave the company a “hold” rating in a report on Thursday, August 3rd. Finally, Benchmark Co. boosted their price target on STAAR Surgical from $12.00 to $13.00 and gave the company a “buy” rating in a report on Monday, August 14th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. STAAR Surgical currently has an average rating of “Buy” and a consensus target price of $12.00.
Shares of STAAR Surgical (NASDAQ:STAA) opened at 10.90 on Friday. STAAR Surgical has a 12-month low of $7.45 and a 12-month high of $12.35. The stock’s market capitalization is $448.08 million. The company has a 50-day moving average of $11.51 and a 200 day moving average of $10.28.
STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings results on Wednesday, August 2nd. The medical instruments supplier reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.04. STAAR Surgical had a negative return on equity of 8.69% and a negative net margin of 6.06%. The company had revenue of $21.90 million during the quarter, compared to the consensus estimate of $22.15 million. During the same period in the previous year, the company posted ($0.02) earnings per share. STAAR Surgical’s revenue for the quarter was up 4.8% on a year-over-year basis. Analysts predict that STAAR Surgical will post ($0.11) earnings per share for the current year.
Institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its position in shares of STAAR Surgical by 18.6% in the first quarter. Renaissance Technologies LLC now owns 144,300 shares of the medical instruments supplier’s stock valued at $1,414,000 after buying an additional 22,600 shares in the last quarter. Vanguard Group Inc. increased its position in shares of STAAR Surgical by 1.5% in the first quarter. Vanguard Group Inc. now owns 1,272,972 shares of the medical instruments supplier’s stock valued at $12,475,000 after buying an additional 18,621 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of STAAR Surgical in the second quarter valued at approximately $282,000. Palo Alto Investors LLC increased its position in shares of STAAR Surgical by 2.6% in the first quarter. Palo Alto Investors LLC now owns 3,473,170 shares of the medical instruments supplier’s stock valued at $34,037,000 after buying an additional 86,925 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of STAAR Surgical by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 160,186 shares of the medical instruments supplier’s stock valued at $1,569,000 after buying an additional 1,392 shares in the last quarter. Institutional investors and hedge funds own 76.54% of the company’s stock.
STAAR Surgical Company Profile
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.
Receive News & Ratings for STAAR Surgical Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for STAAR Surgical Company and related companies with MarketBeat.com's FREE daily email newsletter.