STAAR Surgical (NASDAQ:STAA) Price Target Increased to $46.00 by Analysts at Canaccord Genuity Group

STAAR Surgical (NASDAQ:STAA) had its target price increased by Canaccord Genuity Group from $32.00 to $46.00 in a report published on Monday morning, Benzinga reports. Canaccord Genuity Group currently has a hold rating on the medical instruments supplier’s stock.

Other equities analysts have also recently issued reports about the stock. William Blair raised shares of STAAR Surgical from a market perform rating to an outperform rating in a research report on Thursday, April 4th. Piper Sandler cut their price objective on shares of STAAR Surgical from $40.00 to $33.00 and set a neutral rating on the stock in a research report on Tuesday, February 27th. Stifel Nicolaus reiterated a buy rating and issued a $50.00 price target on shares of STAAR Surgical in a research note on Monday, April 1st. Needham & Company LLC reiterated a hold rating on shares of STAAR Surgical in a research note on Thursday, April 4th. Finally, Mizuho decreased their price target on shares of STAAR Surgical from $50.00 to $45.00 and set a buy rating on the stock in a research note on Wednesday, February 28th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $45.38.

STAAR Surgical Trading Up 1.7 %

NASDAQ STAA opened at $49.49 on Monday. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 115.09 and a beta of 0.85. The company has a 50 day moving average of $34.70 and a 200-day moving average of $34.83. STAAR Surgical has a 1-year low of $26.66 and a 1-year high of $73.13.

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

Insider Buying and Selling at STAAR Surgical

In other news, Director Aimee S. Weisner purchased 1,750 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average cost of $38.11 per share, with a total value of $66,692.50. Following the completion of the transaction, the director now directly owns 10,864 shares of the company’s stock, valued at $414,027.04. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in STAA. GAMMA Investing LLC increased its stake in shares of STAAR Surgical by 313.9% in the first quarter. GAMMA Investing LLC now owns 1,308 shares of the medical instruments supplier’s stock worth $50,000 after purchasing an additional 992 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of STAAR Surgical by 0.8% in 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 acquiring an additional 43,083 shares during the period. Sierra Summit Advisors LLC bought a new position in shares of STAAR Surgical in the fourth quarter valued at approximately $323,000. Price T Rowe Associates Inc. MD boosted its position 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 valued at $890,000 after acquiring an additional 1,907 shares during the period. Finally, GSA Capital Partners LLP lifted its position in STAAR Surgical by 38.0% during the fourth quarter. GSA Capital Partners LLP now owns 15,524 shares of the medical instruments supplier’s stock valued at $485,000 after purchasing an additional 4,272 shares during the last quarter. 96.70% of the stock is owned by institutional investors.

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.