Zacks: Analysts Set $12.67 Target Price for STAAR Surgical Company (STAA)

STAAR Surgical Company (NASDAQ:STAA) has earned a consensus broker rating score of 2.00 (Buy) from the four analysts that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company. STAAR Surgical’s rating score has improved by 20% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.

Brokerages have set a 1-year consensus price target of $12.67 for the company and are anticipating that the company will post $0.03 earnings per share for the current quarter, according to Zacks. Zacks has also assigned STAAR Surgical an industry rank of 98 out of 265 based on the ratings given to related companies.

A number of research firms have weighed in on STAA. BidaskClub upgraded shares of STAAR Surgical from a “strong sell” rating to a “sell” rating in a research report on Friday, August 11th. Canaccord Genuity upped their price objective on shares of STAAR Surgical from $9.00 to $11.00 and gave the stock a “hold” rating in a research report on Thursday, August 3rd. TheStreet upgraded shares of STAAR Surgical from a “d+” rating to a “c” rating in a research report on Tuesday, August 15th. Benchmark Co. increased their target price on shares of STAAR Surgical from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, August 14th. Finally, Zacks Investment Research cut shares of STAAR Surgical from a “buy” rating to a “hold” rating in a research report on Friday, September 22nd.

Shares of STAAR Surgical (STAA) traded up $0.30 during midday trading on Thursday, reaching $15.25. 321,300 shares of the company were exchanged, compared to its average volume of 85,227. STAAR Surgical has a 12-month low of $8.95 and a 12-month high of $15.80. The company has a current ratio of 2.24, a quick ratio of 1.72 and a debt-to-equity ratio of 0.02.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu KCG Holdings LLC purchased a new stake in shares of STAAR Surgical in the second quarter valued at about $118,000. Prudential Financial Inc. purchased a new position in STAAR Surgical in the 3rd quarter valued at $138,000. Goldman Sachs Group Inc. purchased a new position in STAAR Surgical in the 1st quarter valued at $111,000. Stephens Inc. AR grew its position in STAAR Surgical by 2.6% in the 2nd quarter. Stephens Inc. AR now owns 12,238 shares of the medical instruments supplier’s stock valued at $132,000 after buying an additional 315 shares during the last quarter. Finally, Simplex Trading LLC grew its position in STAAR Surgical by 1,798.8% in the 2nd quarter. Simplex Trading LLC now owns 12,779 shares of the medical instruments supplier’s stock valued at $138,000 after buying an additional 12,106 shares during the last quarter. 77.30% of the stock is owned by hedge funds and other institutional investors.

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STAAR Surgical Company Profile

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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