Brokerages Set STAAR Surgical (NASDAQ:STAA) Target Price at $113.17

Shares of STAAR Surgical (NASDAQ:STAAGet Rating) have been assigned a consensus rating of “Buy” from the nine brokerages that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $113.17.

STAA has been the topic of several recent research reports. Zacks Investment Research upgraded shares of STAAR Surgical from a “sell” rating to a “hold” rating in a research note on Tuesday. Benchmark upgraded shares of STAAR Surgical from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a research note on Monday, March 28th. StockNews.com started coverage on shares of STAAR Surgical in a research note on Thursday, March 31st. They set a “hold” rating on the stock. BTIG Research upgraded shares of STAAR Surgical from a “neutral” rating to a “buy” rating and set a $98.00 price objective on the stock in a research note on Friday, March 18th. Finally, Canaccord Genuity Group lowered their price objective on shares of STAAR Surgical from $150.00 to $97.00 and set a “buy” rating on the stock in a research note on Friday, February 25th.

Shares of STAA stock opened at $61.89 on Tuesday. STAAR Surgical has a 1 year low of $55.36 and a 1 year high of $163.08. The firm’s fifty day moving average price is $72.77 and its two-hundred day moving average price is $90.18. The firm has a market capitalization of $2.96 billion, a P/E ratio of 126.31 and a beta of 1.00.

STAAR Surgical (NASDAQ:STAAGet Rating) last issued its quarterly earnings results on Wednesday, February 23rd. The medical instruments supplier reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. STAAR Surgical had a net margin of 10.63% and a return on equity of 11.84%. The firm had revenue of $59.00 million for the quarter, compared to analyst estimates of $59.21 million. During the same period in the previous year, the business earned $0.14 EPS. The company’s revenue was up 28.3% compared to the same quarter last year. Equities analysts expect that STAAR Surgical will post 0.62 earnings per share for the current fiscal year.

In related news, VP James E. Francese sold 922 shares of the company’s stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $74.62, for a total value of $68,799.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.60% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in STAA. Norges Bank bought a new stake in STAAR Surgical in the 4th quarter valued at about $37,178,000. TimesSquare Capital Management LLC boosted its holdings in STAAR Surgical by 141.4% in the 4th quarter. TimesSquare Capital Management LLC now owns 350,200 shares of the medical instruments supplier’s stock valued at $31,973,000 after purchasing an additional 205,140 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new stake in STAAR Surgical in the 3rd quarter valued at about $26,282,000. Barclays PLC boosted its holdings in STAAR Surgical by 224.3% in the 4th quarter. Barclays PLC now owns 245,332 shares of the medical instruments supplier’s stock valued at $22,400,000 after purchasing an additional 169,682 shares during the period. Finally, E Fund Management Co. Ltd. bought a new stake in STAAR Surgical in the 3rd quarter valued at about $17,004,000. Institutional investors and hedge funds own 87.89% of the company’s stock.

About STAAR Surgical (Get Rating)

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 Visian implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness.

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