STAAR Surgical Company (NASDAQ:STAA) Given Consensus Recommendation of “Reduce” by Brokerages

STAAR Surgical Company (NASDAQ:STAA) has been assigned a consensus recommendation of “Reduce” from the twelve ratings firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $18.9375.

A number of brokerages have recently weighed in on STAA. BTIG Research reissued a “neutral” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research report on Tuesday, January 6th. Wedbush began coverage on STAAR Surgical in a research report on Tuesday, February 3rd. They issued a “neutral” rating and a $26.00 price objective on the stock. Stifel Nicolaus decreased their price objective on STAAR Surgical from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, Jefferies Financial Group cut their target price on shares of STAAR Surgical from $28.00 to $21.50 and set a “buy” rating for the company in a research note on Wednesday, January 28th.

Insider Buying and Selling at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. acquired 336,946 shares of STAAR Surgical stock in a transaction that occurred on Tuesday, January 6th. The shares were acquired at an average price of $21.62 per share, with a total value of $7,284,772.52. Following the completion of the purchase, the insider owned 15,356,437 shares of the company’s stock, valued at approximately $332,006,167.94. This represents a 2.24% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased a total of 434,138 shares of company stock valued at $9,424,176 over the last ninety days. Insiders own 0.59% of the company’s stock.

Institutional Trading of STAAR Surgical

Several hedge funds and other institutional investors have recently bought and sold shares of STAA. New York Life Investment Management LLC acquired a new stake in shares of STAAR Surgical during the third quarter worth $2,243,000. Alpine Associates Management Inc. purchased a new position in STAAR Surgical during the third quarter worth about $24,535,000. Versor Investments LP acquired a new stake in STAAR Surgical in the 3rd quarter worth about $5,708,000. Credit Industriel ET Commercial purchased a new stake in STAAR Surgical in the 3rd quarter valued at about $3,258,000. Finally, ABC Arbitrage SA purchased a new position in shares of STAAR Surgical during the 3rd quarter worth about $6,632,000. 96.70% of the stock is owned by hedge funds and other institutional investors.

STAAR Surgical Price Performance

Shares of NASDAQ:STAA opened at $18.46 on Friday. The firm has a market capitalization of $913.95 million, a price-to-earnings ratio of -11.33 and a beta of 1.05. The business’s 50 day simple moving average is $19.68 and its 200-day simple moving average is $24.05. STAAR Surgical has a 12 month low of $14.69 and a 12 month high of $30.81.

STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings data on Tuesday, March 3rd. The medical instruments supplier reported ($0.37) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.51). STAAR Surgical had a negative return on equity of 10.03% and a negative net margin of 33.60%.The business had revenue of $57.80 million during the quarter, compared to analysts’ expectations of $75.54 million. The company’s revenue was up 18.0% on a year-over-year basis. On average, equities analysts anticipate that STAAR Surgical will post -1.14 earnings per share for the current year.

STAAR Surgical Company Profile

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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.