STAAR Surgical Company (NASDAQ:STAA) Receives Average Rating of “Reduce” from Analysts

Shares of STAAR Surgical Company (NASDAQ:STAA) have earned a consensus rating of “Reduce” from the eleven brokerages that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $19.2143.

A number of brokerages have recently issued reports on STAA. Weiss Ratings reiterated a “sell (d)” rating on shares of STAAR Surgical in a research note on Thursday, January 22nd. Stifel Nicolaus lowered their target price on shares of STAAR Surgical from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, March 4th. Jefferies Financial Group dropped their price target 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. Wedbush initiated coverage on shares of STAAR Surgical in a research note on Tuesday, February 3rd. They issued a “neutral” rating and a $26.00 price target for the company. Finally, Canaccord Genuity Group decreased their price objective on shares of STAAR Surgical from $30.75 to $22.00 and set a “hold” rating for the company in a research report on Thursday, January 15th.

Insider Transactions at STAAR Surgical

In other STAAR Surgical news, Director Broadwood Partners, L.P. purchased 316,017 shares of STAAR Surgical stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average price of $18.61 per share, for a total transaction of $5,881,076.37. Following the completion of the acquisition, the director owned 16,123,842 shares of the company’s stock, valued at approximately $300,064,699.62. This trade represents a 2.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders have bought 1,104,351 shares of company stock valued at $21,690,426. Company insiders own 0.59% of the company’s stock.

Institutional Trading of STAAR Surgical

Institutional investors and hedge funds have recently bought and sold shares of the business. Balyasny Asset Management L.P. bought a new position in shares of STAAR Surgical during the 3rd quarter worth approximately $48,729,000. Broadwood Capital Inc. raised its stake in STAAR Surgical by 11.1% in the 4th quarter. Broadwood Capital Inc. now owns 15,019,491 shares of the medical instruments supplier’s stock valued at $346,800,000 after acquiring an additional 1,500,000 shares during the period. Magnetar Financial LLC lifted its holdings in STAAR Surgical by 105.3% during the 4th quarter. Magnetar Financial LLC now owns 2,472,390 shares of the medical instruments supplier’s stock valued at $57,087,000 after purchasing an additional 1,268,019 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in STAAR Surgical by 112.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,076,743 shares of the medical instruments supplier’s stock valued at $47,952,000 after purchasing an additional 1,100,484 shares during the last quarter. Finally, Alpine Associates Management Inc. bought a new position in STAAR Surgical during the third quarter worth $24,535,000. Institutional investors own 96.70% of the company’s stock.

STAAR Surgical Price Performance

Shares of NASDAQ STAA opened at $18.70 on Wednesday. The stock has a market capitalization of $925.84 million, a price-to-earnings ratio of -11.47 and a beta of 1.05. The business has a 50-day moving average of $18.32 and a 200-day moving average of $22.87. STAAR Surgical has a fifty-two week low of $14.69 and a fifty-two week high of $30.81.

STAAR Surgical (NASDAQ:STAA) last released its earnings results on Tuesday, March 3rd. The medical instruments supplier reported ($0.37) earnings per share (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 company had revenue of $57.80 million for the quarter, compared to the consensus estimate of $75.54 million. The company’s revenue was up 18.0% compared to the same quarter last year. On average, sell-side analysts expect that STAAR Surgical will post -1.14 EPS for the current year.

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.