Zacks Investment Research upgraded shares of STAAR Surgical (NASDAQ:STAA) from a hold rating to a strong-buy rating in a research note published on Tuesday morning, Zacks.com reports. The brokerage currently has $29.00 price target on the medical instruments supplier’s stock.
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. “
Other equities analysts also recently issued reports about the stock. BidaskClub upgraded shares of STAAR Surgical from a hold rating to a buy rating in a research note on Wednesday, February 20th. Canaccord Genuity restated a buy rating and issued a $38.00 price target (down from $43.00) on shares of STAAR Surgical in a research note on Monday. Finally, ValuEngine upgraded shares of STAAR Surgical from a hold rating to a buy rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. STAAR Surgical has a consensus rating of Buy and an average price target of $40.33.Shares of STAA traded down $1.30 during trading hours on Tuesday, hitting $25.96. The company had a trading volume of 27,435 shares, compared to its average volume of 447,169. The firm has a market capitalization of $1.21 billion, a PE ratio of 91.82 and a beta of 2.02. STAAR Surgical has a 12 month low of $21.70 and a 12 month high of $54.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.41 and a quick ratio of 4.83.
STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings data on Wednesday, May 1st. The medical instruments supplier reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.06. The company had revenue of $32.58 million for the quarter, compared to analyst estimates of $32.40 million. STAAR Surgical had a net margin of 4.44% and a return on equity of 13.22%. During the same period in the prior year, the firm earned $0.01 earnings per share. Analysts predict that STAAR Surgical will post 0.33 earnings per share for the current fiscal year.
In other STAAR Surgical news, CTO Keith Holliday sold 2,084 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $36.22, for a total transaction of $75,482.48. Following the sale, the chief technology officer now directly owns 40,239 shares in the company, valued at $1,457,456.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Broadwood Partners, L.P. acquired 100,000 shares of STAAR Surgical stock in a transaction on Friday, May 3rd. The shares were purchased at an average price of $22.23 per share, for a total transaction of $2,223,000.00. The disclosure for this purchase can be found here. Insiders sold 17,730 shares of company stock worth $655,538 over the last 90 days. 3.90% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. Great West Life Assurance Co. Can grew its stake in STAAR Surgical by 46.8% during the first quarter. Great West Life Assurance Co. Can now owns 5,172 shares of the medical instruments supplier’s stock worth $176,000 after buying an additional 1,649 shares in the last quarter. Cadence Capital Management LLC grew its stake in STAAR Surgical by 66.7% during the first quarter. Cadence Capital Management LLC now owns 113,410 shares of the medical instruments supplier’s stock worth $3,877,000 after buying an additional 45,387 shares in the last quarter. Quantum Capital Management grew its stake in STAAR Surgical by 45.8% during the first quarter. Quantum Capital Management now owns 72,655 shares of the medical instruments supplier’s stock worth $2,484,000 after buying an additional 22,809 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in STAAR Surgical during the first quarter worth about $186,000. Finally, Comerica Bank grew its stake in STAAR Surgical by 7.5% during the first quarter. Comerica Bank now owns 37,197 shares of the medical instruments supplier’s stock worth $1,377,000 after buying an additional 2,600 shares in the last quarter. Hedge funds and other institutional investors own 90.99% 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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