STAAR Surgical (NASDAQ:STAA) has earned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $24.67.
A number of research firms recently commented on STAA. Canaccord Genuity reaffirmed a “buy” rating and issued a $32.00 price target (up previously from $23.00) on shares of STAAR Surgical in a research note on Wednesday. ValuEngine raised STAAR Surgical from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 2nd. BidaskClub raised STAAR Surgical from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 1st. TheStreet raised STAAR Surgical from a “c” rating to a “b-” rating in a research note on Monday, May 14th. Finally, Stephens raised STAAR Surgical from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $13.00 to $21.00 in a research note on Thursday, May 3rd.
Shares of STAAR Surgical traded up $0.05, reaching $31.50, during trading on Tuesday, MarketBeat reports. The company’s stock had a trading volume of 1,311 shares, compared to its average volume of 441,744. The stock has a market cap of $1.36 billion, a PE ratio of 3,145.00 and a beta of 1.37. STAAR Surgical has a 52 week low of $9.70 and a 52 week high of $34.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.90 and a current ratio of 2.43.
STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Wednesday, May 2nd. The medical instruments supplier reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.08. The company had revenue of $27.09 million during the quarter, compared to analysts’ expectations of $23.00 million. STAAR Surgical had a net margin of 0.66% and a return on equity of 6.80%. During the same quarter in the previous year, the business posted ($0.05) earnings per share. equities research analysts predict that STAAR Surgical will post 0.03 earnings per share for the current fiscal year.
In other STAAR Surgical news, CFO Deborah J. Andrews sold 13,331 shares of the business’s stock in a transaction dated Thursday, May 3rd. The stock was sold at an average price of $17.60, for a total transaction of $234,625.60. Following the completion of the transaction, the chief financial officer now owns 28,998 shares of the company’s stock, valued at $510,364.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.90% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Element Capital Management LLC acquired a new position in STAAR Surgical during the first quarter worth about $156,000. Macquarie Group Ltd. raised its stake in STAAR Surgical by 138.2% during the fourth quarter. Macquarie Group Ltd. now owns 17,630 shares of the medical instruments supplier’s stock worth $273,000 after acquiring an additional 10,230 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in STAAR Surgical during the fourth quarter worth about $292,000. MetLife Investment Advisors LLC acquired a new position in STAAR Surgical during the fourth quarter worth about $301,000. Finally, King Luther Capital Management Corp acquired a new position in STAAR Surgical during the fourth quarter worth about $319,000. 79.06% of the stock is owned by hedge funds and other institutional investors.
About STAAR Surgical
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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