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

Needham & Company LLC reaffirmed their hold rating on shares of STAAR Surgical (NASDAQ:STAA) in a research report report published on Thursday morning, Benzinga reports.

Several other equities research analysts also recently issued reports on the company. Canaccord Genuity Group lowered their price target on STAAR Surgical from $43.00 to $41.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Morgan Stanley downgraded shares of STAAR Surgical from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $50.00 to $37.00 in a report on Monday, July 15th. Stifel Nicolaus reduced their price target on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating for the company in a report on Monday, August 26th. Finally, BTIG Research raised their price objective on shares of STAAR Surgical from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $44.14.

STAAR Surgical Trading Up 0.7 %

Shares of NASDAQ:STAA traded up $0.20 during mid-day trading on Thursday, reaching $29.19. The stock had a trading volume of 165,804 shares, compared to its average volume of 713,789. The firm has a 50 day simple moving average of $32.06 and a two-hundred day simple moving average of $38.76. STAAR Surgical has a twelve month low of $26.66 and a twelve month high of $52.68. The firm has a market cap of $1.44 billion, a PE ratio of 65.89 and a beta of 0.59.

STAAR Surgical (NASDAQ:STAA) last posted its earnings results on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.09). STAAR Surgical had a return on equity of 6.91% and a net margin of 6.38%. The firm had revenue of $99.01 million during the quarter, compared to analyst estimates of $95.22 million. During the same quarter last year, the business posted $0.23 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts anticipate that STAAR Surgical will post 0.16 EPS for the current fiscal year.

Insider Activity at STAAR Surgical

In other news, Director Arthur C. Butcher purchased 1,315 shares of the business’s stock in a transaction on Monday, August 12th. The shares were acquired at an average price of $37.99 per share, for a total transaction of $49,956.85. Following the completion of the acquisition, the director now owns 4,208 shares in the company, valued at approximately $159,861.92. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of STAA. Kornitzer Capital Management Inc. KS increased its position in shares of STAAR Surgical by 1.2% during the third quarter. Kornitzer Capital Management Inc. KS now owns 164,625 shares of the medical instruments supplier’s stock worth $6,116,000 after acquiring an additional 1,900 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of STAAR Surgical by 12.7% in the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock worth $129,000 after purchasing an additional 393 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of STAAR Surgical in the third quarter valued at approximately $37,000. Assenagon Asset Management S.A. raised its position in STAAR Surgical by 2.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 90,434 shares of the medical instruments supplier’s stock valued at $3,360,000 after buying an additional 2,047 shares during the last quarter. Finally, Defender Capital LLC. grew its stake in shares of STAAR Surgical by 4.4% in the 3rd quarter. Defender Capital LLC. now owns 677,617 shares of the medical instruments supplier’s stock worth $25,173,000 after acquiring an additional 28,430 shares in the last quarter. Institutional investors and hedge funds 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.