STAAR Surgical (NASDAQ:STAA) Price Target Cut to $45.00

STAAR Surgical (NASDAQ:STAA) had its price target decreased by research analysts at Piper Sandler from $50.00 to $45.00 in a research report issued to clients and investors on Friday, Marketbeat reports. The brokerage currently has a “neutral” rating on the medical instruments supplier’s stock. Piper Sandler’s target price suggests a potential upside of 3.78% from the stock’s current price.

A number of other analysts also recently weighed in on the company. Canaccord Genuity Group reiterated a “hold” rating and set a $48.00 price target (down from $77.00) on shares of STAAR Surgical in a report on Thursday, August 3rd. Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 target price on shares of STAAR Surgical in a research note on Wednesday. Needham & Company LLC decreased their target price on STAAR Surgical from $75.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, August 3rd. StockNews.com downgraded shares of STAAR Surgical from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Benchmark cut shares of STAAR Surgical from a “buy” rating to a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, STAAR Surgical currently has a consensus rating of “Hold” and an average target price of $59.00.

STAAR Surgical Trading Up 1.1 %

Shares of STAA stock opened at $43.36 on Friday. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 86.72 and a beta of 1.09. The stock has a 50-day moving average of $47.69 and a 200-day moving average of $55.91. STAAR Surgical has a 1-year low of $40.50 and a 1-year high of $90.06.

STAAR Surgical (NASDAQ:STAA) last released its earnings results on Wednesday, August 2nd. The medical instruments supplier reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. The business had revenue of $92.31 million during the quarter, compared to the consensus estimate of $93.04 million. STAAR Surgical had a net margin of 8.14% and a return on equity of 8.37%. Sell-side analysts forecast that STAAR Surgical will post 0.52 earnings per share for the current year.

Insider Activity

In other STAAR Surgical news, Director Aimee S. Weisner acquired 2,000 shares of STAAR Surgical stock in a transaction dated Monday, August 7th. The stock was purchased at an average cost of $48.72 per share, for a total transaction of $97,440.00. Following the completion of the acquisition, the director now directly owns 5,417 shares of the company’s stock, valued at $263,916.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Broadwood Partners, L.P. bought 60,874 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were bought at an average price of $41.26 per share, with a total value of $2,511,661.24. Following the completion of the transaction, the insider now directly owns 8,973,044 shares in the company, valued at $370,227,795.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Aimee S. Weisner bought 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were bought at an average cost of $48.72 per share, for a total transaction of $97,440.00. Following the transaction, the director now owns 5,417 shares of the company’s stock, valued at $263,916.24. The disclosure for this purchase can be found here. Insiders acquired 83,018 shares of company stock worth $3,452,531 over the last three months. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On STAAR Surgical

A number of hedge funds have recently bought and sold shares of the company. Metropolitan Life Insurance Co. NY boosted its holdings in STAAR Surgical by 6.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,052 shares of the medical instruments supplier’s stock worth $148,000 after acquiring an additional 184 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its stake in shares of STAAR Surgical by 6.4% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 3,052 shares of the medical instruments supplier’s stock worth $148,000 after buying an additional 184 shares during the last quarter. Assetmark Inc. boosted its stake in shares of STAAR Surgical by 42.1% in the 4th quarter. Assetmark Inc. now owns 645 shares of the medical instruments supplier’s stock worth $31,000 after buying an additional 191 shares during the last quarter. Sei Investments Co. boosted its stake in shares of STAAR Surgical by 0.6% in the 2nd quarter. Sei Investments Co. now owns 34,969 shares of the medical instruments supplier’s stock worth $2,484,000 after buying an additional 195 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of STAAR Surgical by 18.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,287 shares of the medical instruments supplier’s stock worth $102,000 after buying an additional 202 shares during the last quarter. 96.70% of the stock is owned by hedge funds and other institutional investors.

About STAAR Surgical

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.