STAAR Surgical (NASDAQ:STAA) Given Average Recommendation of “Hold” by Analysts

Shares of STAAR Surgical (NASDAQ:STAA) have earned an average recommendation of “Hold” from the ten research firms that are presently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $46.38.

STAA has been the subject of several recent research reports. William Blair raised STAAR Surgical from a “market perform” rating to an “outperform” rating in a report on Thursday, April 4th. Piper Sandler lowered their target price on STAAR Surgical from $40.00 to $33.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Mizuho upped their target price on STAAR Surgical from $45.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 target price on shares of STAAR Surgical in a report on Monday, April 1st. Finally, Canaccord Genuity Group boosted their price objective on STAAR Surgical from $32.00 to $46.00 and gave the stock a “hold” rating in a research report on Monday, April 8th.

Insider Buying and Selling at STAAR Surgical

In other news, Director Aimee S. Weisner bought 1,750 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $38.11 per share, with a total value of $66,692.50. Following the purchase, the director now directly owns 10,864 shares in the company, valued at $414,027.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

Hedge funds have recently modified their holdings of the stock. Broadwood Capital Inc. boosted its holdings in STAAR Surgical by 13.7% in the fourth quarter. Broadwood Capital Inc. now owns 10,537,835 shares of the medical instruments supplier’s stock worth $328,886,000 after purchasing an additional 1,273,408 shares in the last quarter. Vanguard Group Inc. boosted its holdings in STAAR Surgical by 10.0% in the third quarter. Vanguard Group Inc. now owns 5,425,627 shares of the medical instruments supplier’s stock worth $218,002,000 after purchasing an additional 492,500 shares in the last quarter. Norges Bank bought a new stake in STAAR Surgical in the fourth quarter worth $13,615,000. BNP Paribas Financial Markets boosted its holdings in STAAR Surgical by 296.0% during the fourth quarter. BNP Paribas Financial Markets now owns 281,547 shares of the medical instruments supplier’s stock valued at $8,787,000 after acquiring an additional 210,443 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in STAAR Surgical during the first quarter valued at about $7,833,000. 96.70% of the stock is owned by institutional investors and hedge funds.

STAAR Surgical Stock Performance

Shares of NASDAQ STAA opened at $45.96 on Wednesday. STAAR Surgical has a 1 year low of $26.66 and a 1 year high of $73.13. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 106.88 and a beta of 0.85. The stock’s 50-day simple moving average is $40.19 and its 200-day simple moving average is $35.69.

STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Monday, February 26th. The medical instruments supplier reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The business had revenue of $76.27 million for the quarter, compared to analysts’ expectations of $75.94 million. STAAR Surgical had a return on equity of 8.73% and a net margin of 6.62%. The firm’s revenue was up 19.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.04 earnings per share. As a group, research analysts predict that STAAR Surgical will post 0.03 EPS for the current year.

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.