Analysts Set STAAR Surgical Company (NASDAQ:STAA) Target Price at $27.81

STAAR Surgical Company (NASDAQ:STAAGet Free Report) has received an average recommendation of “Hold” from the eleven research firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $27.8125.

Several research firms recently weighed in on STAA. Piper Sandler upped their price objective on shares of STAAR Surgical from $16.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Jefferies Financial Group reduced their price objective on shares of STAAR Surgical from $28.00 to $21.50 and set a “buy” rating for the company in a report on Wednesday, January 28th. Weiss Ratings downgraded shares of STAAR Surgical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 22nd. Wells Fargo & Company upped their price objective on shares of STAAR Surgical from $16.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, May 15th. Finally, Stifel Nicolaus upped their price target on shares of STAAR Surgical from $18.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, May 14th.

View Our Latest Report on STAAR Surgical

Insiders Place Their Bets

In other STAAR Surgical news, Director Broadwood Partners, L.P. purchased 316,017 shares of the business’s stock in a transaction on Friday, March 13th. The stock was bought at an average cost of $18.61 per share, with a total value of $5,881,076.37. Following the acquisition, the director owned 16,123,842 shares of the company’s stock, valued at $300,064,699.62. The trade was a 2.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have bought 670,213 shares of company stock valued at $12,266,249. 39.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On STAAR Surgical

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Broadwood Capital Inc. lifted its holdings in STAAR Surgical by 11.1% in the 4th quarter. Broadwood Capital Inc. now owns 15,019,491 shares of the medical instruments supplier’s stock valued at $346,800,000 after acquiring an additional 1,500,000 shares during the last quarter. Soleus Capital Management L.P. lifted its holdings in STAAR Surgical by 16.5% in the 2nd quarter. Soleus Capital Management L.P. now owns 2,984,733 shares of the medical instruments supplier’s stock valued at $50,084,000 after acquiring an additional 421,840 shares during the last quarter. Yunqi Capital Ltd lifted its holdings in STAAR Surgical by 0.3% in the 4th quarter. Yunqi Capital Ltd now owns 2,507,130 shares of the medical instruments supplier’s stock valued at $57,890,000 after acquiring an additional 7,069 shares during the last quarter. Magnetar Financial LLC lifted its stake in STAAR Surgical by 105.3% during the fourth quarter. Magnetar Financial LLC now owns 2,472,390 shares of the medical instruments supplier’s stock valued at $57,087,000 after buying an additional 1,268,019 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in STAAR Surgical by 112.7% during the fourth 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 in the last quarter. 96.70% of the stock is owned by institutional investors and hedge funds.

STAAR Surgical Stock Performance

STAA stock opened at $31.39 on Thursday. The company has a market capitalization of $1.56 billion, a P/E ratio of -73.00 and a beta of 1.20. The company has a 50-day simple moving average of $25.04 and a 200 day simple moving average of $22.98. STAAR Surgical has a fifty-two week low of $15.59 and a fifty-two week high of $35.87. The company has a quick ratio of 4.31, a current ratio of 5.12 and a debt-to-equity ratio of 0.09.

STAAR Surgical (NASDAQ:STAAGet Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.05. The business had revenue of $93.52 million during the quarter, compared to the consensus estimate of $78.72 million. STAAR Surgical had a negative net margin of 7.24% and a positive return on equity of 3.31%. The company’s quarterly revenue was up 119.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.10) earnings per share. Sell-side analysts predict that STAAR Surgical will post -0.03 earnings per share for the current fiscal year.

About STAAR Surgical

(Get Free Report)

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.

Further Reading

Analyst Recommendations for STAAR Surgical (NASDAQ:STAA)

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