STAAR Surgical (NASDAQ:STAA) Stock Price Up 6.7% – Still a Buy?

STAAR Surgical Company (NASDAQ:STAAGet Free Report) rose 6.7% on Wednesday . The company traded as high as $24.20 and last traded at $24.1750. 444,377 shares traded hands during trading, a decline of 63% from the average session volume of 1,194,839 shares. The stock had previously closed at $22.66.

Analysts Set New Price Targets

Several brokerages have weighed in on STAA. Wall Street Zen raised shares of STAAR Surgical from a “hold” rating to a “buy” rating in a research note on Sunday, July 5th. Mizuho boosted their price target on shares of STAAR Surgical from $22.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. 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. Canaccord Genuity Group increased their price objective on shares of STAAR Surgical from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Finally, Stifel Nicolaus lifted their target price 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. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $26.94.

Check Out Our Latest Stock Analysis on STAAR Surgical

STAAR Surgical Trading Up 6.4%

The company has a 50 day moving average of $28.46 and a 200-day moving average of $23.85. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -56.15 and a beta of 1.23. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.31 and a current ratio of 5.12.

STAAR Surgical (NASDAQ:STAAGet Free Report) last released its earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.05. The company had revenue of $93.52 million during the quarter, compared to the consensus estimate of $78.72 million. STAAR Surgical had a positive return on equity of 3.31% and a negative net margin of 7.24%.STAAR Surgical’s revenue was up 119.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.10) EPS. On average, research analysts anticipate that STAAR Surgical Company will post 0.13 earnings per share for the current year.

Institutional Investors Weigh In On STAAR Surgical

Large investors have recently added to or reduced their stakes in the business. Amundi purchased a new stake in STAAR Surgical during the 1st quarter worth approximately $305,000. American Capital Management Inc. grew its stake in shares of STAAR Surgical by 18.7% in the first quarter. American Capital Management Inc. now owns 878,035 shares of the medical instruments supplier’s stock worth $16,419,000 after acquiring an additional 138,499 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in shares of STAAR Surgical during the first quarter worth $1,109,000. Renaissance Technologies LLC raised its stake in shares of STAAR Surgical by 257.7% in the first quarter. Renaissance Technologies LLC now owns 135,200 shares of the medical instruments supplier’s stock valued at $2,528,000 after acquiring an additional 97,400 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in shares of STAAR Surgical by 33.3% in the first quarter. Gamco Investors INC. ET AL now owns 20,000 shares of the medical instruments supplier’s stock valued at $374,000 after acquiring an additional 5,000 shares in the last quarter. 96.70% of the stock is owned by hedge funds and other institutional investors.

STAAR Surgical Company Profile

(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.

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