STAAR Surgical (NASDAQ:STAA) Receives Hold Rating from Needham & Company LLC

STAAR Surgical (NASDAQ:STAA)‘s stock had its “hold” rating reaffirmed by analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports.

Other analysts have also issued reports about the company. Canaccord Genuity Group lowered their target price on STAAR Surgical from $43.00 to $41.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Morgan Stanley downgraded shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $50.00 to $37.00 in a report on Monday, July 15th. Stifel Nicolaus reduced their target price on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Finally, BTIG Research upped their price target on shares of STAAR Surgical from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $45.57.

STAAR Surgical Stock Performance

Shares of NASDAQ:STAA opened at $30.39 on Thursday. The company has a market capitalization of $1.49 billion, a P/E ratio of 96.71 and a beta of 0.58. The company’s 50-day moving average is $36.60 and its 200 day moving average is $40.41. STAAR Surgical has a fifty-two week low of $26.66 and a fifty-two week high of $52.68.

STAAR Surgical (NASDAQ:STAA) last released its earnings results on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). STAAR Surgical had a net margin of 4.99% and a return on equity of 5.60%. The company had revenue of $99.01 million during the quarter, compared to analysts’ expectations of $95.22 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. As a group, research analysts predict that STAAR Surgical will post 0.17 earnings per share for the current year.

Insider Transactions at STAAR Surgical

In other STAAR Surgical news, Director Arthur C. Butcher bought 1,315 shares of STAAR Surgical stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $37.99 per share, for a total transaction of $49,956.85. Following the completion of the transaction, the director now directly owns 4,208 shares in the company, valued at $159,861.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sei Investments Co. grew its holdings in STAAR Surgical by 2.7% in the 2nd quarter. Sei Investments Co. now owns 15,087 shares of the medical instruments supplier’s stock worth $718,000 after acquiring an additional 394 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of STAAR Surgical by 1.0% during the first quarter. Texas Permanent School Fund Corp now owns 42,577 shares of the medical instruments supplier’s stock valued at $1,630,000 after purchasing an additional 407 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in STAAR Surgical by 3.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,343 shares of the medical instruments supplier’s stock worth $540,000 after acquiring an additional 418 shares in the last quarter. Linden Thomas Advisory Services LLC grew its position in STAAR Surgical by 2.3% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 20,721 shares of the medical instruments supplier’s stock valued at $987,000 after purchasing an additional 469 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in STAAR Surgical by 2.1% in the 2nd quarter. Louisiana State Employees Retirement System now owns 24,700 shares of the medical instruments supplier’s stock worth $1,176,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 96.70% 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 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.