STAAR Surgical (NASDAQ:STAA) Price Target Raised to $26.00 at Wedbush

STAAR Surgical (NASDAQ:STAA) had its target price lifted by Wedbush from $21.00 to $26.00 in a report released on Thursday,Benzinga reports. Wedbush currently has a neutral rating on the medical instruments supplier’s stock.

Several other analysts also recently weighed in on STAA. Canaccord Genuity Group upgraded shares of STAAR Surgical from a “hold” rating to a “buy” rating and lifted their price objective for the company from $22.00 to $27.00 in a research report on Thursday. Morgan Stanley began coverage on shares of STAAR Surgical in a research report on Friday, January 16th. They issued an “underweight” rating and a $13.00 price objective on the stock. Stifel Nicolaus cut their price objective on shares of STAAR Surgical from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Wednesday, March 4th. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research report on Tuesday, January 6th. Finally, Jefferies Financial Group cut their price objective on shares of STAAR Surgical from $28.00 to $21.50 and set a “buy” rating on the stock in a research report on Wednesday, January 28th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $19.93.

STAAR Surgical Stock Up 20.7%

Shares of NASDAQ:STAA opened at $25.21 on Thursday. The company has a market cap of $1.25 billion, a PE ratio of -15.47 and a beta of 1.04. The company’s 50-day moving average price is $18.56 and its 200 day moving average price is $22.63. STAAR Surgical has a fifty-two week low of $15.12 and a fifty-two week high of $30.81.

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

Insider Buying and Selling

In related news, Director Broadwood Partners, L.P. bought 316,017 shares of the stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $18.61 per share, with a total value of $5,881,076.37. Following the purchase, the director owned 16,123,842 shares in the company, valued at approximately $300,064,699.62. This represents a 2.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have bought 670,213 shares of company stock worth $12,266,249. 0.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On STAAR Surgical

Several large investors have recently bought and sold shares of STAA. Caitong International Asset Management Co. Ltd increased its stake in STAAR Surgical by 2,605.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock valued at $28,000 after buying an additional 1,016 shares during the period. GAMMA Investing LLC grew its stake in shares of STAAR Surgical by 61.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock worth $50,000 after purchasing an additional 706 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of STAAR Surgical by 375.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock worth $99,000 after purchasing an additional 4,673 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of STAAR Surgical by 9,928.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock worth $121,000 after purchasing an additional 4,468 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in shares of STAAR Surgical in the 3rd quarter worth approximately $199,000. Institutional investors and hedge funds own 96.70% of the company’s stock.

Trending Headlines about STAAR Surgical

Here are the key news stories impacting STAAR Surgical this week:

• Positive Sentiment: Company preliminary Q1 net sales indicate more than double year-over-year growth and management signaled a roughly $90M sales outlook for Q1, driving the rally as investors price in stronger demand and upside to estimates. Article Title
• Positive Sentiment: Multiple outlets highlight the blowout preliminary sales and upside signal from the quarter — coverage on Bloomberg, Seeking Alpha and Yahoo amplified the story and helped boost buying interest. Seeking Alpha Podcast Bloomberg
• Positive Sentiment: Canaccord Genuity upgraded STAA from Hold to Buy and raised its price target to $27, signaling stronger institutional conviction behind the sales beat and supporting further upside. MSN Article
• Neutral Sentiment: Wedbush lifted its price target to $26 but kept a Neutral rating, implying limited near-term upside from that shop and signaling some analyst caution despite the sales strength. Benzinga
• Neutral Sentiment: Wider media and “stock movers” coverage (Bloomberg, MarketWatch, Yahoo, MarketWatch lists) increased visibility and trading volume, which can amplify moves but also bring short-term volatility. Bloomberg Movers
• Negative Sentiment: STAAR remains unprofitable on a GAAP basis and earlier (March) quarterly results missed EPS and revenue expectations; analysts still model negative EPS for the year, which could limit how sustainably high multiples re-rate absent continued revenue and margin improvement.

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. 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.