STAAR Surgical (STAA) Reaches New 52-Week High at $43.60

STAAR Surgical (NASDAQ:STAA) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $43.60 and last traded at $41.55, with a volume of 12637 shares traded. The stock had previously closed at $42.20.

STAA has been the topic of a number of research reports. TheStreet upgraded STAAR Surgical from a “c” rating to a “b-” rating in a research note on Monday, May 14th. Canaccord Genuity restated a “buy” rating and set a $32.00 price target (up previously from $23.00) on shares of STAAR Surgical in a research note on Wednesday, June 20th. ValuEngine upgraded STAAR Surgical from a “hold” rating to a “buy” rating in a research note on Saturday, May 12th. BidaskClub upgraded STAAR Surgical from a “hold” rating to a “buy” rating in a research note on Friday, May 18th. Finally, Benchmark assumed coverage on STAAR Surgical in a research note on Monday, August 6th. They issued a “buy” rating and a $45.00 target price on the stock. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. STAAR Surgical currently has an average rating of “Buy” and an average price target of $38.75.

The company has a market cap of $1.68 billion, a price-to-earnings ratio of 4,125.00 and a beta of 1.45. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.68 and a quick ratio of 2.11.

STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Wednesday, August 1st. The medical instruments supplier reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.08. STAAR Surgical had a return on equity of 16.04% and a net margin of 3.15%. The company had revenue of $33.91 million for the quarter, compared to the consensus estimate of $27.10 million. analysts expect that STAAR Surgical will post 0.03 EPS for the current year.

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its stake in shares of STAAR Surgical by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 274,602 shares of the medical instruments supplier’s stock valued at $4,255,000 after purchasing an additional 12,550 shares during the last quarter. Deutsche Bank AG grew its stake in shares of STAAR Surgical by 133.2% in the 4th quarter. Deutsche Bank AG now owns 177,814 shares of the medical instruments supplier’s stock valued at $2,754,000 after purchasing an additional 101,573 shares during the last quarter. Millrace Asset Group Inc. grew its stake in shares of STAAR Surgical by 24.4% in the 1st quarter. Millrace Asset Group Inc. now owns 128,861 shares of the medical instruments supplier’s stock valued at $1,908,000 after purchasing an additional 25,290 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of STAAR Surgical by 35.3% in the 1st quarter. Baillie Gifford & Co. now owns 1,071,975 shares of the medical instruments supplier’s stock valued at $15,866,000 after purchasing an additional 279,568 shares during the last quarter. Finally, King Luther Capital Management Corp grew its stake in shares of STAAR Surgical by 693.3% in the 1st quarter. King Luther Capital Management Corp now owns 163,390 shares of the medical instruments supplier’s stock valued at $2,418,000 after purchasing an additional 142,795 shares during the last quarter. Institutional investors own 80.52% of the company’s stock.

About STAAR Surgical (NASDAQ:STAA)

STAAR Surgical Company, together with its subsidiaries, designs, develops, manufactures, markets, and sells implantable lenses for the eye, and delivery systems to deliver the lenses into the eye. The company provides Visian implantable collamer lenses (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness.

Featured Article: What does earnings per share mean?

Receive News & Ratings for STAAR Surgical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for STAAR Surgical and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply