STAAR Surgical (NASDAQ:STAA) Price Target Raised to $40.00

STAAR Surgical (NASDAQ:STAA) had its price target lifted by investment analysts at Piper Sandler from $33.00 to $40.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the medical instruments supplier’s stock. Piper Sandler’s target price points to a potential upside of 0.33% from the stock’s current price.

A number of other analysts have also recently commented on STAA. William Blair raised shares of STAAR Surgical from a “market perform” rating to an “outperform” rating in a report on Thursday, April 4th. Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 price target on shares of STAAR Surgical in a research report on Monday, April 1st. Mizuho upped their price target on shares of STAAR Surgical from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday. Canaccord Genuity Group upped their price target on shares of STAAR Surgical from $32.00 to $46.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research report on Thursday, April 4th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, STAAR Surgical has a consensus rating of “Hold” and an average price target of $47.50.

STAAR Surgical Trading Down 14.5 %

STAA stock traded down $6.78 during midday trading on Wednesday, reaching $39.87. 712,130 shares of the company’s stock traded hands, compared to its average volume of 725,063. STAAR Surgical has a 52-week low of $26.66 and a 52-week high of $68.27. The stock has a market cap of $1.96 billion, a P/E ratio of 91.88 and a beta of 0.80. The stock’s 50-day moving average is $41.94 and its 200 day moving average is $35.84.

STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Tuesday, May 7th. The medical instruments supplier reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). STAAR Surgical had a net margin of 6.62% and a return on equity of 8.73%. The business had revenue of $77.40 million for the quarter, compared to analysts’ expectations of $75.34 million. During the same period in the prior year, the company posted $0.05 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, research analysts expect that STAAR Surgical will post 0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Aimee S. Weisner purchased 1,750 shares of the stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $38.11 per share, for a total transaction of $66,692.50. Following the acquisition, the director now owns 10,864 shares of the company’s stock, valued at $414,027.04. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On STAAR Surgical

A number of institutional investors have recently bought and sold shares of the business. New York State Teachers Retirement System grew its stake in STAAR Surgical by 3.5% in the 3rd quarter. New York State Teachers Retirement System now owns 58,340 shares of the medical instruments supplier’s stock valued at $2,344,000 after acquiring an additional 1,979 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in STAAR Surgical by 17.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,639 shares of the medical instruments supplier’s stock worth $347,000 after purchasing an additional 1,259 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in STAAR Surgical by 2.8% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 14,400 shares of the medical instruments supplier’s stock worth $579,000 after purchasing an additional 391 shares during the last quarter. Perigon Wealth Management LLC acquired a new stake in STAAR Surgical during the 3rd quarter worth $265,000. Finally, Nisa Investment Advisors LLC boosted its position in shares of STAAR Surgical by 415.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,445 shares of the medical instruments supplier’s stock valued at $98,000 after acquiring an additional 1,971 shares during the last quarter. 96.70% of the stock is owned by hedge funds and other institutional investors.

STAAR Surgical Company Profile

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.