STAAR Surgical (NASDAQ:STAA – Get Free Report) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday, Zacks reports.
Other equities research analysts also recently issued reports about the company. Canaccord Genuity Group lifted their target price on STAAR Surgical from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. UBS Group set a $28.00 price target on STAAR Surgical in a research report on Monday, August 17th. Stifel Nicolaus reduced their price target on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, August 17th. Wall Street Zen cut shares of STAAR Surgical from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $28.00 price objective on shares of STAAR Surgical in a report on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $28.40.
Read Our Latest Research Report on STAA
STAAR Surgical Stock Up 2.0%
STAAR Surgical (NASDAQ:STAA – Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The medical instruments supplier reported $0.39 EPS for the quarter, topping the consensus estimate of $0.22 by $0.17. STAAR Surgical had a net margin of 1.13% and a return on equity of 9.05%. The company had revenue of $93.53 million for the quarter, compared to analyst estimates of $90.60 million. During the same quarter in the prior year, the business posted ($0.34) EPS. STAAR Surgical’s quarterly revenue was up 111.1% on a year-over-year basis. As a group, equities analysts anticipate that STAAR Surgical will post 0.39 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in STAA. Balyasny Asset Management L.P. bought a new stake in STAAR Surgical during the 3rd quarter worth about $48,729,000. Broadwood Capital Inc. lifted its holdings in STAAR Surgical by 11.1% during the 4th quarter. Broadwood Capital Inc. now owns 15,019,491 shares of the medical instruments supplier’s stock worth $346,800,000 after buying an additional 1,500,000 shares in the last quarter. Magnetar Financial LLC lifted its holdings in STAAR Surgical by 105.3% during the 4th quarter. Magnetar Financial LLC now owns 2,472,390 shares of the medical instruments supplier’s stock worth $57,087,000 after buying an additional 1,268,019 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in STAAR Surgical by 112.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,076,743 shares of the medical instruments supplier’s stock valued at $47,952,000 after buying an additional 1,100,484 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in STAAR Surgical by 2,943.5% in the 2nd quarter. California State Teachers Retirement System now owns 968,402 shares of the medical instruments supplier’s stock valued at $27,783,000 after buying an additional 936,583 shares during the last quarter. Institutional investors and hedge funds own 96.70% 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 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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.
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