STAAR Surgical (NASDAQ:STAA) Upgraded to Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of STAAR Surgical (NASDAQ:STAA) from a hold rating to a buy rating in a report released on Thursday, MarketBeat Ratings reports. They currently have $27.00 price objective on the medical instruments supplier’s stock, up from their prior price objective of $22.00.

STAA has been the subject of a number of other reports. Stifel Nicolaus reduced their price objective on shares of STAAR Surgical from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Wednesday, March 4th. Wells Fargo & Company reduced their price objective on shares of STAAR Surgical from $30.75 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, March 5th. Jefferies Financial Group reduced their price objective 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. BTIG Research restated a “neutral” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. Finally, Wedbush started coverage on shares of STAAR Surgical in a research report on Tuesday, February 3rd. They set a “neutral” rating and a $26.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, STAAR Surgical has a consensus rating of “Hold” and a consensus target price of $19.93.

STAAR Surgical Trading Up 20.7%

Shares of STAAR Surgical stock opened at $25.21 on Thursday. The firm has a fifty day simple moving average of $18.56 and a 200-day simple moving average of $22.63. STAAR Surgical has a 1-year low of $15.12 and a 1-year high of $30.81. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -15.47 and a beta of 1.04.

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 analysts’ consensus estimates 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 firm had revenue of $57.80 million during the quarter, compared to analyst estimates of $75.54 million. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. As a group, research analysts predict that STAAR Surgical will post -1.14 earnings per share for the current year.

Insider Transactions at STAAR Surgical

In related news, Director Broadwood Partners, L.P. bought 316,017 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average price of $18.61 per share, with a total value of $5,881,076.37. Following the completion of the transaction, the director owned 16,123,842 shares of the company’s stock, valued at $300,064,699.62. The trade was a 2.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired a total of 670,213 shares of company stock worth $12,266,249 over the last 90 days. Insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

A number of institutional investors and hedge funds have recently bought and sold shares of STAA. New York Life Investment Management LLC bought a new stake in STAAR Surgical in the 3rd quarter valued at $2,243,000. Alpine Associates Management Inc. bought a new stake in STAAR Surgical in the 3rd quarter valued at $24,535,000. Versor Investments LP bought a new stake in STAAR Surgical in the 3rd quarter valued at $5,708,000. Defender Capital LLC. bought a new stake in STAAR Surgical in the 4th quarter valued at $15,429,000. Finally, Polar Asset Management Partners Inc. bought a new stake in STAAR Surgical in the 3rd quarter valued at $3,359,000. Institutional investors own 96.70% of the company’s stock.

More STAAR Surgical News

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.

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.