Zacks Investment Research lowered shares of STAAR Surgical (NASDAQ:STAA) from a buy rating to a hold rating in a research report report published on Friday, Zacks.com reports.
According to Zacks, “Staar Surgical Company has evolved to become a developer, manufacturer and global distributor of products used by ophthalmologists and other eye care professionals to improve or correct vision in patients suffering from refractive conditions, cataracts and glaucoma. “
Several other analysts have also recently commented on the stock. Canaccord Genuity reaffirmed a buy rating and issued a $38.00 target price (down from $43.00) on shares of STAAR Surgical in a research note on Monday, May 6th. BidaskClub cut shares of STAAR Surgical from a strong-buy rating to a buy rating in a research note on Thursday. Finally, ValuEngine raised shares of STAAR Surgical from a hold rating to a buy rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. STAAR Surgical has a consensus rating of Buy and a consensus price target of $42.00.
STAA stock traded down $1.80 during midday trading on Friday, hitting $31.62. The stock had a trading volume of 11,138 shares, compared to its average volume of 458,086. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 113.36 and a beta of 2.25. The company has a current ratio of 5.53, a quick ratio of 4.83 and a debt-to-equity ratio of 0.04. STAAR Surgical has a 12-month low of $21.70 and a 12-month high of $54.00. The business has a 50-day moving average price of $30.07.
STAAR Surgical (NASDAQ:STAA) last released its earnings results on Wednesday, July 31st. The medical instruments supplier reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.04. The firm had revenue of $39.66 million during the quarter, compared to analysts’ expectations of $40.10 million. STAAR Surgical had a net margin of 5.80% and a return on equity of 12.81%. On average, equities research analysts anticipate that STAAR Surgical will post 0.33 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in STAA. TRUE Private Wealth Advisors purchased a new stake in STAAR Surgical during the 2nd quarter worth $36,000. Mascoma Wealth Management LLC purchased a new stake in STAAR Surgical during the 1st quarter worth $38,000. Aperio Group LLC purchased a new stake in STAAR Surgical during the 2nd quarter worth $43,000. DekaBank Deutsche Girozentrale bought a new stake in shares of STAAR Surgical in the 2nd quarter worth about $46,000. Finally, Aspire Private Capital LLC bought a new stake in shares of STAAR Surgical in the 1st quarter worth about $51,000. Institutional investors own 89.72% 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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