STAAR Surgical’s (STAA) “Outperform” Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of STAAR Surgical (NASDAQ:STAA) in a report issued on Wednesday,Benzinga reports. Wedbush currently has a $40.00 price target on the medical instruments supplier’s stock.

Several other research analysts have also recently issued reports on STAA. Stifel Nicolaus increased their price objective on STAAR Surgical from $18.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, May 14th. Piper Sandler lifted their target price on STAAR Surgical from $16.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Wells Fargo & Company upped their target price on STAAR Surgical from $16.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, May 15th. Weiss Ratings raised STAAR Surgical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 25th. Finally, Canaccord Genuity Group raised their price target on STAAR Surgical from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $27.81.

STAAR Surgical Trading Down 3.3%

Shares of STAA opened at $23.38 on Wednesday. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -54.37 and a beta of 1.23. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.12 and a quick ratio of 4.31. STAAR Surgical has a 1-year low of $15.59 and a 1-year high of $35.87. The company has a 50-day moving average of $28.85 and a 200 day moving average of $23.85.

STAAR Surgical (NASDAQ:STAA) last issued its earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. STAAR Surgical had a negative net margin of 7.24% and a positive return on equity of 3.31%. The business had revenue of $93.52 million for the quarter, compared to the consensus estimate of $78.72 million. During the same period in the prior year, the firm earned ($1.10) EPS. The company’s revenue for the quarter was up 119.6% compared to the same quarter last year. On average, research analysts expect that STAAR Surgical will post 0.13 EPS for the current year.

Hedge Funds Weigh In On STAAR Surgical

Several institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its holdings in STAAR Surgical by 2,605.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock worth $28,000 after buying an additional 1,016 shares during the period. Ascentis Independent Advisors purchased a new position in shares of STAAR Surgical in the 1st quarter valued at $77,000. Russell Investments Group Ltd. increased its holdings in shares of STAAR Surgical by 9,928.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock valued at $121,000 after acquiring an additional 4,468 shares during the period. Tower Research Capital LLC TRC raised its position in shares of STAAR Surgical by 375.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock worth $99,000 after acquiring an additional 4,673 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in shares of STAAR Surgical in the 3rd quarter worth $208,000. 96.70% of the stock is owned by hedge funds and other institutional investors.

STAAR Surgical Company Profile

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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.