STAAR Surgical (STAA) Downgraded to “Hold” at BidaskClub

BidaskClub downgraded shares of STAAR Surgical (NASDAQ:STAA) from a buy rating to a hold rating in a research report sent to investors on Thursday.

Separately, Zacks Investment Research lowered STAAR Surgical from a hold rating to a sell rating in a report on Wednesday, March 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $17.67.

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STAAR Surgical stock opened at $14.80 on Thursday. The company has a quick ratio of 2.13, a current ratio of 2.82 and a debt-to-equity ratio of 0.01. The firm has a market cap of $612.99, a price-to-earnings ratio of 1,480.00 and a beta of 1.22. STAAR Surgical has a twelve month low of $8.95 and a twelve month high of $17.60.

STAAR Surgical (NASDAQ:STAA) last posted its earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $24.85 million for the quarter. STAAR Surgical had a negative return on equity of 2.28% and a negative net margin of 2.36%. analysts anticipate that STAAR Surgical will post 0.03 earnings per share for the current fiscal year.

In other STAAR Surgical news, insider Samuel J. Gesten sold 2,833 shares of the company’s stock in a transaction on Thursday, March 22nd. The stock was sold at an average price of $16.05, for a total transaction of $45,469.65. Following the completion of the sale, the insider now owns 38,316 shares in the company, valued at $614,971.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Keith Holliday sold 2,188 shares of the company’s stock in a transaction on Thursday, March 22nd. The stock was sold at an average price of $16.03, for a total value of $35,073.64. Following the sale, the chief technology officer now owns 43,781 shares of the company’s stock, valued at approximately $701,809.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,479 shares of company stock valued at $216,561. 5.60% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Prudential Financial Inc. purchased a new stake in shares of STAAR Surgical during the 3rd quarter valued at $138,000. Citadel Advisors LLC purchased a new stake in shares of STAAR Surgical during the 3rd quarter valued at $172,000. Macquarie Group Ltd. lifted its holdings in shares of STAAR Surgical by 138.2% during the 4th quarter. Macquarie Group Ltd. now owns 17,630 shares of the medical instruments supplier’s stock valued at $273,000 after purchasing an additional 10,230 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of STAAR Surgical during the 4th quarter valued at $292,000. Finally, MetLife Investment Advisors LLC purchased a new stake in shares of STAAR Surgical during the 4th quarter valued at $301,000. Institutional investors own 78.95% of the company’s stock.

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About STAAR Surgical

STAAR Surgical Company designs, develops, manufactures and sells implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. It operates in the ophthalmic surgical market segment. Its principal products are intraocular lenses used in cataract surgery and implantable collamer lenses used in refractive surgery.

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