STAAR Surgical (NASDAQ:STAA) PT Raised to $53.00 at Mizuho

STAAR Surgical (NASDAQ:STAA) had its target price boosted by research analysts at Mizuho from $45.00 to $53.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. Mizuho’s price target indicates a potential upside of 6.45% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. William Blair upgraded STAAR Surgical from a “market perform” rating to an “outperform” rating in a research report on Thursday, April 4th. Piper Sandler cut their target price on STAAR Surgical from $40.00 to $33.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Canaccord Genuity Group lifted their target price on STAAR Surgical from $32.00 to $46.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 target price on shares of STAAR Surgical in a report on Monday, April 1st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a report on Thursday, April 4th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $46.38.

STAAR Surgical Stock Performance

Shares of STAA opened at $49.79 on Thursday. STAAR Surgical has a 52-week low of $26.66 and a 52-week high of $73.13. The business’s fifty day moving average is $36.52 and its 200-day moving average is $35.21. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 115.79 and a beta of 0.86.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings data on Monday, February 26th. The medical instruments supplier reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $76.27 million for the quarter, compared to the consensus estimate of $75.94 million. STAAR Surgical had a return on equity of 8.73% and a net margin of 6.62%. The company’s revenue was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.04 EPS. As a group, research analysts forecast that STAAR Surgical will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Aimee S. Weisner acquired 1,750 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average cost of $38.11 per share, with a total value of $66,692.50. Following the acquisition, the director now owns 10,864 shares of the company’s stock, valued at approximately $414,027.04. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On STAAR Surgical

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in STAAR Surgical by 313.9% during the first quarter. GAMMA Investing LLC now owns 1,308 shares of the medical instruments supplier’s stock valued at $50,000 after buying an additional 992 shares during the period. Vanguard Group Inc. raised its position in STAAR Surgical by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,468,710 shares of the medical instruments supplier’s stock valued at $170,678,000 after purchasing an additional 43,083 shares in the last quarter. Sierra Summit Advisors LLC purchased a new position in shares of STAAR Surgical in the fourth quarter worth about $323,000. Price T Rowe Associates Inc. MD increased its holdings in shares of STAAR Surgical by 7.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 28,497 shares of the medical instruments supplier’s stock worth $890,000 after buying an additional 1,907 shares during the period. Finally, GSA Capital Partners LLP increased its holdings in shares of STAAR Surgical by 38.0% in the fourth quarter. GSA Capital Partners LLP now owns 15,524 shares of the medical instruments supplier’s stock worth $485,000 after buying an additional 4,272 shares during the period. 96.70% of the stock is owned by 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 implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia.