STAAR Surgical (NASDAQ:STAA) Research Coverage Started at UBS Group

UBS Group began coverage on shares of STAAR Surgical (NASDAQ:STAA) in a report published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a sell rating and a $20.00 price target on the medical instruments supplier’s stock.

STAA has been the topic of a number of other research reports. Wall Street Zen upgraded shares of STAAR Surgical from a “hold” rating to a “buy” rating in a report on Sunday, July 5th. Wedbush restated an “outperform” rating and issued a $40.00 price target on shares of STAAR Surgical in a report on Wednesday, July 22nd. Stifel Nicolaus upped their price objective on shares of STAAR Surgical from $18.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, May 14th. Piper Sandler raised their price target on shares of STAAR Surgical from $16.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, Wells Fargo & Company upped 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. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.94.

STAAR Surgical Stock Performance

Shares of STAA opened at $24.22 on Tuesday. STAAR Surgical has a 1 year low of $15.59 and a 1 year high of $35.87. The company’s 50 day simple moving average is $28.11 and its 200 day simple moving average is $23.88. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -56.32 and a beta of 1.23. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.31 and a current ratio of 5.12.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Amundi acquired a new stake in STAAR Surgical during the first quarter worth about $305,000. American Capital Management Inc. lifted its holdings in STAAR Surgical by 18.7% in the first quarter. American Capital Management Inc. now owns 878,035 shares of the medical instruments supplier’s stock worth $16,419,000 after acquiring an additional 138,499 shares during the last quarter. Quantinno Capital Management LP acquired a new position in STAAR Surgical in the first quarter valued at approximately $1,109,000. Renaissance Technologies LLC boosted its stake in STAAR Surgical by 257.7% in the first quarter. Renaissance Technologies LLC now owns 135,200 shares of the medical instruments supplier’s stock valued at $2,528,000 after acquiring an additional 97,400 shares during the period. Finally, Gamco Investors INC. ET AL grew its holdings in shares of STAAR Surgical by 33.3% during the first quarter. Gamco Investors INC. ET AL now owns 20,000 shares of the medical instruments supplier’s stock valued at $374,000 after purchasing an additional 5,000 shares during the last quarter. 96.70% of the stock is owned by institutional investors and hedge funds.

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. 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.