Analysts Set STAAR Surgical (NASDAQ:STAA) Price Target at $46.38

STAAR Surgical (NASDAQ:STAA) has received an average rating of “Hold” from the ten research firms that are presently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $46.38.

Several brokerages have recently commented on STAA. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research note on Thursday, April 4th. Stifel Nicolaus restated a “buy” rating and set a $50.00 price objective on shares of STAAR Surgical in a report on Monday, April 1st. Canaccord Genuity Group increased their target price on STAAR Surgical from $32.00 to $46.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Piper Sandler decreased their price target on shares of STAAR Surgical from $40.00 to $33.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Finally, William Blair raised shares of STAAR Surgical from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 4th.

Insider Buying and Selling at STAAR Surgical

In other STAAR Surgical news, Director Aimee S. Weisner bought 1,750 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $38.11 per share, for a total transaction of $66,692.50. Following the purchase, the director now directly owns 10,864 shares of the company’s stock, valued at $414,027.04. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Clear Street Markets LLC purchased a new position in STAAR Surgical in the third quarter valued at about $29,000. Cape Investment Advisory Inc. purchased a new position in STAAR Surgical in the fourth quarter valued at approximately $42,000. GAMMA Investing LLC grew its holdings in STAAR Surgical by 313.9% during the first quarter. GAMMA Investing LLC now owns 1,308 shares of the medical instruments supplier’s stock valued at $50,000 after purchasing an additional 992 shares during the period. Nisa Investment Advisors LLC increased its position in STAAR Surgical by 415.8% in the third quarter. Nisa Investment Advisors LLC now owns 2,445 shares of the medical instruments supplier’s stock worth $98,000 after buying an additional 1,971 shares during the last quarter. Finally, Covestor Ltd raised its stake in shares of STAAR Surgical by 82,466.7% in the third quarter. Covestor Ltd now owns 2,477 shares of the medical instruments supplier’s stock valued at $100,000 after buying an additional 2,474 shares during the period. 96.70% of the stock is owned by hedge funds and other institutional investors.

STAAR Surgical Stock Performance

Shares of STAA stock opened at $46.65 on Wednesday. STAAR Surgical has a fifty-two week low of $26.66 and a fifty-two week high of $68.27. The stock has a 50 day simple moving average of $41.94 and a two-hundred day simple moving average of $35.84. The company has a market cap of $2.29 billion, a P/E ratio of 108.49 and a beta of 0.80.

STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings data on Tuesday, May 7th. The medical instruments supplier reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.12). The company had revenue of $77.40 million during the quarter, compared to the consensus estimate of $75.34 million. STAAR Surgical had a net margin of 6.62% and a return on equity of 8.73%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.05 EPS. On average, research analysts predict that STAAR Surgical will post 0.03 earnings per share for the current year.

About STAAR Surgical

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.