STAAR Surgical (NASDAQ:STAA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Zacks.com reports. The firm presently has a $34.00 price target on the medical instruments supplier’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.77% from the company’s current price.
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. “
STAA has been the topic of several other research reports. BidaskClub raised shares of Zumiez from a “sell” rating to a “hold” rating in a report on Saturday, June 22nd. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Canaccord Genuity reduced their target price on shares of Jamieson Wellness from C$23.00 to C$20.00 in a research note on Monday, May 6th. Five investment analysts have rated the stock with a buy rating, STAAR Surgical has a consensus rating of “Buy” and an average price target of $42.00.
Shares of STAAR Surgical stock opened at $30.42 on Friday. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 108.64 and a beta of 2.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.41 and a quick ratio of 4.83. The firm has a fifty day simple moving average of $27.33. STAAR Surgical has a 52-week low of $21.70 and a 52-week high of $54.00.
STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings results on Wednesday, May 1st. The medical instruments supplier reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.06. The firm had revenue of $32.58 million for the quarter, compared to analyst estimates of $32.40 million. STAAR Surgical had a net margin of 4.44% and a return on equity of 13.22%. During the same quarter in the previous year, the firm posted $0.01 EPS. As a group, sell-side analysts forecast that STAAR Surgical will post 0.33 EPS for the current year.
In other news, major shareholder Broadwood Partners, L.P. bought 100,000 shares of STAAR Surgical stock in a transaction dated Friday, May 3rd. The shares were bought at an average price of $22.23 per share, for a total transaction of $2,223,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 3.90% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. Defender Capital LLC. lifted its position in STAAR Surgical by 10.2% during the 1st quarter. Defender Capital LLC. now owns 524,686 shares of the medical instruments supplier’s stock worth $18,547,000 after buying an additional 48,400 shares in the last quarter. Principal Financial Group Inc. lifted its position in STAAR Surgical by 9.4% during the 4th quarter. Principal Financial Group Inc. now owns 283,010 shares of the medical instruments supplier’s stock worth $9,032,000 after buying an additional 24,424 shares in the last quarter. Geode Capital Management LLC lifted its position in STAAR Surgical by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 407,917 shares of the medical instruments supplier’s stock worth $13,016,000 after buying an additional 5,146 shares in the last quarter. Pura Vida Investments LLC lifted its position in STAAR Surgical by 63.1% during the 4th quarter. Pura Vida Investments LLC now owns 198,256 shares of the medical instruments supplier’s stock valued at $6,326,000 after purchasing an additional 76,700 shares during the period. Finally, BlackRock Inc. lifted its position in STAAR Surgical by 1.4% during the 4th quarter. BlackRock Inc. now owns 3,111,085 shares of the medical instruments supplier’s stock valued at $99,276,000 after purchasing an additional 42,395 shares during the period. Institutional investors own 89.37% 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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