ValuEngine Lowers STAAR Surgical (STAA) to Hold

ValuEngine lowered shares of STAAR Surgical (NASDAQ:STAA) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, ValuEngine reports.

Several other brokerages have also issued reports on STAA. Zacks Investment Research lowered STAAR Surgical from a buy rating to a hold rating in a research report on Saturday, March 2nd. BidaskClub upgraded STAAR Surgical from a hold rating to a buy rating in a research report on Friday, March 22nd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. STAAR Surgical presently has an average rating of Buy and an average price target of $45.25.

Shares of NASDAQ:STAA opened at $31.21 on Thursday. STAAR Surgical has a 1 year low of $15.30 and a 1 year high of $54.00. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 111.46 and a beta of 2.10.

STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Thursday, February 21st. The medical instruments supplier reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.01. STAAR Surgical had a return on equity of 13.86% and a net margin of 4.01%. The business had revenue of $31.19 million during the quarter, compared to analyst estimates of $31.20 million. As a group, equities research analysts forecast that STAAR Surgical will post 0.3 EPS for the current fiscal year.

In related news, insider Samuel J. Gesten sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $36.20, for a total value of $54,300.00. Following the completion of the sale, the insider now owns 36,816 shares in the company, valued at $1,332,739.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Caren L. Mason sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $36.25, for a total value of $271,875.00. Following the completion of the sale, the chief executive officer now owns 44,013 shares of the company’s stock, valued at approximately $1,595,471.25. The disclosure for this sale can be found here. Insiders sold 17,730 shares of company stock valued at $655,538 in the last quarter. 3.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of STAAR Surgical by 1.4% in the fourth 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. Vanguard Group Inc. boosted its holdings in shares of STAAR Surgical by 60.9% in the third quarter. Vanguard Group Inc. now owns 2,754,944 shares of the medical instruments supplier’s stock valued at $132,238,000 after purchasing an additional 1,042,724 shares during the period. Vanguard Group Inc boosted its holdings in shares of STAAR Surgical by 60.9% in the third quarter. Vanguard Group Inc now owns 2,754,944 shares of the medical instruments supplier’s stock valued at $132,238,000 after purchasing an additional 1,042,724 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of STAAR Surgical by 10.0% in the fourth quarter. Baillie Gifford & Co. now owns 1,705,521 shares of the medical instruments supplier’s stock valued at $54,424,000 after purchasing an additional 155,342 shares during the period. Finally, Defender Capital LLC. purchased a new stake in shares of STAAR Surgical in the fourth quarter valued at approximately $15,198,000. Hedge funds and other institutional investors own 89.92% 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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