Analysts Set STAAR Surgical Company (NASDAQ:STAA) Price Target at $19.21

STAAR Surgical Company (NASDAQ:STAA) has received an average rating of “Reduce” from the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $19.2143.

A number of brokerages have recently issued reports on STAA. Canaccord Genuity Group cut their target price on shares of STAAR Surgical from $30.75 to $22.00 and set a “hold” rating on the stock in a research note on Thursday, January 15th. BTIG Research reissued a “neutral” rating on shares of STAAR Surgical in a report on Tuesday, January 6th. Jefferies Financial Group cut their price objective on STAAR Surgical from $28.00 to $21.50 and set a “buy” rating on the stock in a research note on Wednesday, January 28th. Morgan Stanley started coverage on STAAR Surgical in a report on Friday, January 16th. They set an “underweight” rating and a $13.00 target price on the stock. Finally, Wedbush began coverage on STAAR Surgical in a research report on Tuesday, February 3rd. They issued a “neutral” rating and a $26.00 target price for the company.

STAAR Surgical Stock Performance

STAA stock opened at $20.21 on Wednesday. The firm has a 50 day simple moving average of $18.32 and a 200-day simple moving average of $22.71. The company has a market capitalization of $1.00 billion, a P/E ratio of -12.40 and a beta of 1.04. STAAR Surgical has a twelve month low of $14.69 and a twelve month high of $30.81.

STAAR Surgical (NASDAQ:STAA) last posted its quarterly 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 net margin of 33.60% and a negative return on equity of 10.03%. The company had revenue of $57.80 million during the quarter, compared to analyst estimates of $75.54 million. The firm’s revenue was up 18.0% compared to the same quarter last year. On average, research analysts predict that STAAR Surgical will post -1.14 EPS for the current year.

Insider Buying and Selling

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. bought 336,946 shares of the stock in a transaction on Tuesday, January 6th. The stock was purchased at an average price of $21.62 per share, for a total transaction of $7,284,772.52. Following the completion of the purchase, the insider directly owned 15,356,437 shares in the company, valued at approximately $332,006,167.94. This trade represents a 2.24% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired a total of 1,104,351 shares of company stock valued at $21,690,426 over the last three months. Insiders own 0.59% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of STAA. Broadwood Capital Inc. raised its stake in STAAR Surgical by 11.1% during the fourth quarter. Broadwood Capital Inc. now owns 15,019,491 shares of the medical instruments supplier’s stock worth $346,800,000 after acquiring an additional 1,500,000 shares during the period. Soleus Capital Management L.P. boosted its stake in STAAR Surgical by 16.5% in the second quarter. Soleus Capital Management L.P. now owns 2,984,733 shares of the medical instruments supplier’s stock valued at $50,084,000 after acquiring an additional 421,840 shares during the period. Yunqi Capital Ltd grew its holdings in shares of STAAR Surgical by 0.3% during the fourth quarter. Yunqi Capital Ltd now owns 2,507,130 shares of the medical instruments supplier’s stock valued at $57,890,000 after purchasing an additional 7,069 shares during the last quarter. Magnetar Financial LLC grew its holdings in shares of STAAR Surgical by 105.3% during the fourth 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. Finally, Goldman Sachs Group Inc. raised its position in shares of 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 worth $47,952,000 after purchasing an additional 1,100,484 shares during the period. 96.70% of the stock is owned by institutional investors and hedge funds.

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.