STAAR Surgical (NASDAQ:STAA) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of STAAR Surgical (NASDAQ:STAAGet Rating) have been assigned an average rating of “Moderate Buy” from the eleven brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $94.89.

A number of brokerages have recently issued reports on STAA. UBS Group dropped their price objective on shares of STAAR Surgical from $97.00 to $88.00 and set a “buy” rating for the company in a research note on Friday, October 14th. Jefferies Financial Group dropped their price objective on shares of STAAR Surgical from $165.00 to $125.00 in a research note on Thursday, August 11th. StockNews.com began coverage on shares of STAAR Surgical in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Needham & Company LLC dropped their price objective on shares of STAAR Surgical from $110.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, November 3rd. Finally, Canaccord Genuity Group dropped their price objective on shares of STAAR Surgical from $97.00 to $88.00 and set a “buy” rating for the company in a research note on Friday, October 14th.

Insider Transactions at STAAR Surgical

In other news, VP James E. Francese sold 35,425 shares of the company’s stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $75.00, for a total value of $2,656,875.00. Following the sale, the vice president now owns 34,908 shares of the company’s stock, valued at approximately $2,618,100. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On STAAR Surgical

A number of hedge funds have recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky bought a new stake in STAAR Surgical during the 3rd quarter worth about $508,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in STAAR Surgical by 8.1% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 660,813 shares of the medical instruments supplier’s stock worth $46,621,000 after acquiring an additional 49,691 shares during the last quarter. Glenmede Trust Co. NA bought a new stake in STAAR Surgical during the 3rd quarter worth about $247,000. Advisory Research Inc. grew its holdings in STAAR Surgical by 16.2% during the 3rd quarter. Advisory Research Inc. now owns 62,982 shares of the medical instruments supplier’s stock worth $4,444,000 after acquiring an additional 8,770 shares during the last quarter. Finally, BNP Paribas Arbitrage SNC grew its holdings in STAAR Surgical by 55.2% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 63,359 shares of the medical instruments supplier’s stock worth $4,470,000 after acquiring an additional 22,530 shares during the last quarter. Institutional investors own 96.38% of the company’s stock.

STAAR Surgical Price Performance

NASDAQ:STAA opened at $60.22 on Wednesday. The stock has a market cap of $2.90 billion, a P/E ratio of 79.24 and a beta of 1.11. STAAR Surgical has a one year low of $49.03 and a one year high of $112.27. The company has a fifty day moving average price of $70.54 and a 200 day moving average price of $74.93.

STAAR Surgical (NASDAQ:STAAGet Rating) last released its earnings results on Wednesday, November 2nd. The medical instruments supplier reported $0.37 EPS for the quarter, beating the consensus estimate of $0.21 by $0.16. The firm had revenue of $76.05 million during the quarter, compared to analysts’ expectations of $74.95 million. STAAR Surgical had a net margin of 13.54% and a return on equity of 15.13%. The business’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.13 EPS. As a group, equities research analysts anticipate that STAAR Surgical will post 0.75 EPS for the current year.

STAAR Surgical Company Profile

(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.

Further Reading

Analyst Recommendations for STAAR Surgical (NASDAQ:STAA)

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