STAAR Surgical (NASDAQ:STAA) Stock Rating Upgraded by Zacks Research

STAAR Surgical (NASDAQ:STAA) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

STAA has been the subject of several other reports. Wells Fargo & Company increased their target price on shares of STAAR Surgical from $16.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, May 15th. Stifel Nicolaus raised 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. Wall Street Zen cut STAAR Surgical from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Wedbush reaffirmed an “outperform” rating and set a $40.00 target price on shares of STAAR Surgical in a research report on Tuesday. Finally, Canaccord Genuity Group boosted their target price on STAAR Surgical from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, STAAR Surgical presently has a consensus rating of “Hold” and an average price target of $26.94.

STAAR Surgical Price Performance

NASDAQ:STAA opened at $22.86 on Tuesday. The company has a quick ratio of 4.31, a current ratio of 5.12 and a debt-to-equity ratio of 0.09. The business’s 50-day moving average price is $27.43 and its 200 day moving average price is $23.95. STAAR Surgical has a 52-week low of $15.59 and a 52-week high of $35.87. The firm has a market cap of $1.14 billion, a P/E ratio of -53.16 and a beta of 1.26.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share for the quarter, beating 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 company had revenue of $93.52 million during the quarter, compared to the consensus estimate of $78.72 million. During the same period in the prior year, the company earned ($1.10) EPS. STAAR Surgical’s revenue was up 119.6% on a year-over-year basis. As a group, sell-side analysts predict that STAAR Surgical will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On STAAR Surgical

A number of large investors have recently made changes to their positions in the business. Balyasny Asset Management L.P. purchased a new stake in STAAR Surgical in the 3rd quarter worth approximately $48,729,000. Broadwood Capital Inc. grew its holdings in shares of STAAR Surgical by 11.1% during the 4th quarter. Broadwood Capital Inc. now owns 15,019,491 shares of the medical instruments supplier’s stock valued at $346,800,000 after acquiring an additional 1,500,000 shares in the last quarter. Magnetar Financial LLC grew its holdings in shares of STAAR Surgical by 105.3% during the 4th quarter. Magnetar Financial LLC now owns 2,472,390 shares of the medical instruments supplier’s stock valued at $57,087,000 after acquiring an additional 1,268,019 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of STAAR Surgical by 112.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,076,743 shares of the medical instruments supplier’s stock worth $47,952,000 after acquiring an additional 1,100,484 shares during the last quarter. Finally, Water Island Capital LLC acquired a new position in shares of STAAR Surgical in the third quarter worth $17,689,000. Institutional investors and hedge funds own 96.70% of the company’s stock.

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.