STAAR Surgical (STAA) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of STAAR Surgical (NASDAQ:STAA) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “Staar Surgical Company has evolved to become a developer, manufacturer and global distributor of products used by ophthalmologists and other eye care professionals to improve or correct vision in patients suffering from refractive conditions, cataracts and glaucoma. “

A number of other equities analysts also recently commented on STAA. BidaskClub downgraded STAAR Surgical from a strong-buy rating to a buy rating in a report on Tuesday, July 31st. Canaccord Genuity restated a buy rating and set a $43.00 target price (up previously from $32.00) on shares of STAAR Surgical in a report on Thursday, August 2nd. Finally, Benchmark initiated coverage on STAAR Surgical in a report on Monday, August 6th. They set a buy rating and a $45.00 target price for the company. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. STAAR Surgical presently has a consensus rating of Buy and an average price target of $45.25.

Shares of STAAR Surgical stock traded down $0.02 during midday trading on Wednesday, reaching $49.98. 23,541 shares of the company’s stock traded hands, compared to its average volume of 536,520. The company has a quick ratio of 4.76, a current ratio of 5.35 and a debt-to-equity ratio of 0.01. The company has a market cap of $1.95 billion, a PE ratio of 4,968.00 and a beta of 2.05. STAAR Surgical has a 12 month low of $13.45 and a 12 month high of $54.00.

STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.06. The company had revenue of $31.77 million during the quarter, compared to the consensus estimate of $30.10 million. STAAR Surgical had a return on equity of 14.80% and a net margin of 3.17%. During the same quarter in the prior year, the company earned $0.03 earnings per share. On average, research analysts anticipate that STAAR Surgical will post 0.09 earnings per share for the current year.

In other STAAR Surgical news, Director William P. Wall sold 5,000 shares of the stock in a transaction on Monday, August 20th. The stock was sold at an average price of $41.35, for a total value of $206,750.00. Following the completion of the transaction, the director now owns 16,235 shares in the company, valued at $671,317.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.90% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Winslow Evans & Crocker Inc. purchased a new stake in shares of STAAR Surgical in the third quarter worth $142,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of STAAR Surgical in the third quarter worth $222,000. Xact Kapitalforvaltning AB purchased a new stake in shares of STAAR Surgical in the third quarter worth $278,000. Engineers Gate Manager LP purchased a new stake in shares of STAAR Surgical in the second quarter worth $208,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of STAAR Surgical in the third quarter worth $326,000. Institutional investors and hedge funds own 80.26% 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 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.

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