STAAR Surgical (NASDAQ:STAA) Receives Average Recommendation of “Hold” from Brokerages

Shares of STAAR Surgical (NASDAQ:STAA) have been assigned a consensus rating of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $82.00.

A number of research firms recently issued reports on STAA. Benchmark lowered STAAR Surgical from a “buy” rating to a “hold” rating in a research note on Tuesday, January 19th. They noted that the move was a valuation call. Canaccord Genuity boosted their target price on STAAR Surgical from $84.00 to $128.00 and gave the stock a “buy” rating in a research report on Thursday, February 25th. Zacks Investment Research cut STAAR Surgical from a “hold” rating to a “sell” rating in a research report on Wednesday, March 3rd. Finally, BTIG Research restated a “hold” rating on shares of STAAR Surgical in a research report on Monday, February 8th.

Shares of NASDAQ:STAA traded up $5.50 during midday trading on Friday, reaching $115.64. 16,359 shares of the company traded hands, compared to its average volume of 809,673. STAAR Surgical has a 12 month low of $31.69 and a 12 month high of $128.23. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 614.77 and a beta of 1.09. The firm’s fifty day moving average price is $101.31 and its two-hundred day moving average price is $85.21.

STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings data on Tuesday, February 23rd. The medical instruments supplier reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. STAAR Surgical had a return on equity of 8.99% and a net margin of 5.73%. The company had revenue of $46.00 million for the quarter, compared to analyst estimates of $45.40 million. During the same period in the previous year, the company posted $0.14 EPS. As a group, equities analysts anticipate that STAAR Surgical will post 0.11 earnings per share for the current year.

In other news, insider Samuel J. Gesten sold 1,032 shares of the business’s stock in a transaction dated Monday, March 22nd. The stock was sold at an average price of $96.37, for a total value of $99,453.84. Following the completion of the sale, the insider now owns 42,583 shares of the company’s stock, valued at approximately $4,103,723.71. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Jon K. Hayashida sold 1,103 shares of the business’s stock in a transaction dated Monday, March 22nd. The shares were sold at an average price of $96.37, for a total value of $106,296.11. Following the completion of the sale, the vice president now directly owns 9,691 shares of the company’s stock, valued at approximately $933,921.67. The disclosure for this sale can be found here. Insiders sold a total of 1,047,485 shares of company stock valued at $111,344,039 over the last quarter. Company insiders own 3.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. THB Asset Management lifted its stake in shares of STAAR Surgical by 0.7% in the 4th quarter. THB Asset Management now owns 13,834 shares of the medical instruments supplier’s stock valued at $1,095,000 after acquiring an additional 94 shares during the last quarter. Carroll Financial Associates Inc. raised its position in STAAR Surgical by 218.6% during the 1st quarter. Carroll Financial Associates Inc. now owns 446 shares of the medical instruments supplier’s stock valued at $47,000 after purchasing an additional 306 shares during the last quarter. Nisa Investment Advisors LLC raised its position in STAAR Surgical by 60.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,850 shares of the medical instruments supplier’s stock valued at $147,000 after purchasing an additional 700 shares during the last quarter. Aperio Group LLC raised its position in STAAR Surgical by 13.4% during the 3rd quarter. Aperio Group LLC now owns 6,716 shares of the medical instruments supplier’s stock valued at $380,000 after purchasing an additional 795 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in STAAR Surgical by 3.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 27,346 shares of the medical instruments supplier’s stock valued at $2,166,000 after purchasing an additional 952 shares during the last quarter. 85.35% of the stock is owned by institutional investors.

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 Visian implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness.

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Analyst Recommendations for STAAR Surgical (NASDAQ:STAA)

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