Mizuho Raises STAAR Surgical (NASDAQ:STAA) Price Target to $55.00

STAAR Surgical (NASDAQ:STAA) had its price target increased by equities research analysts at Mizuho from $53.00 to $55.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the medical instruments supplier’s stock. Mizuho’s price objective points to a potential upside of 17.90% from the stock’s previous close.

STAA has been the subject of several other reports. Stifel Nicolaus reissued a “buy” rating and set a $50.00 target price on shares of STAAR Surgical in a research report on Monday, April 1st. William Blair upgraded STAAR Surgical from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 4th. Canaccord Genuity Group upped their target price on shares of STAAR Surgical from $32.00 to $46.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Piper Sandler dropped their price target on shares of STAAR Surgical from $40.00 to $33.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research report on Thursday, April 4th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $46.63.

STAAR Surgical Price Performance

STAA stock opened at $46.65 on Wednesday. STAAR Surgical has a 1 year low of $26.66 and a 1 year high of $68.27. The stock has a market capitalization of $2.29 billion, a PE ratio of 108.49 and a beta of 0.80. The company’s 50-day moving average is $41.94 and its 200-day moving average is $35.84.

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

Insider Buying and Selling

In other STAAR Surgical news, Director Aimee S. Weisner bought 1,750 shares of the stock in a transaction on Thursday, March 14th. The shares were acquired at an average price of $38.11 per share, with a total value of $66,692.50. Following the acquisition, the director now directly owns 10,864 shares of the company’s stock, valued at approximately $414,027.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in STAA. Clear Street Markets LLC bought a new stake in STAAR Surgical during the 3rd quarter worth approximately $29,000. GAMMA Investing LLC grew its holdings in shares of STAAR Surgical by 313.9% during the first quarter. GAMMA Investing LLC now owns 1,308 shares of the medical instruments supplier’s stock worth $50,000 after purchasing an additional 992 shares in the last quarter. Cape Investment Advisory Inc. purchased a new stake in STAAR Surgical in the fourth quarter valued at approximately $42,000. Nisa Investment Advisors LLC increased its holdings in shares of STAAR Surgical by 415.8% in the 3rd 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 lifted its holdings in shares of STAAR Surgical by 82,466.7% during the 3rd quarter. Covestor Ltd now owns 2,477 shares of the medical instruments supplier’s stock worth $100,000 after acquiring an additional 2,474 shares during the last quarter. Institutional investors own 96.70% of the company’s stock.

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.