Wall Street Zen Downgrades STAAR Surgical (NASDAQ:STAA) to Hold

STAAR Surgical (NASDAQ:STAA) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other analysts have also weighed in on STAA. Piper Sandler raised their price target on shares of STAAR Surgical from $16.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Wedbush reaffirmed an “outperform” rating and set a $40.00 price objective on shares of STAAR Surgical in a report on Wednesday, July 22nd. Canaccord Genuity Group increased their price objective on STAAR Surgical from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Weiss Ratings raised STAAR Surgical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 25th. Finally, Mizuho boosted their target price on STAAR Surgical from $22.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $26.94.

STAAR Surgical Price Performance

Shares of NASDAQ:STAA opened at $24.36 on Friday. The company has a quick ratio of 4.31, a current ratio of 5.12 and a debt-to-equity ratio of 0.09. The firm has a market cap of $1.21 billion, a P/E ratio of -56.65 and a beta of 1.26. STAAR Surgical has a 12 month low of $15.59 and a 12 month high of $35.87. The company’s 50-day moving average price is $27.94 and its two-hundred day moving average price is $23.89.

STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. STAAR Surgical had a negative net margin of 7.24% and a positive return on equity of 3.31%. The company had revenue of $93.52 million during the quarter, compared to the consensus estimate of $78.72 million. During the same period in the previous year, the firm posted ($1.10) earnings per share. The company’s revenue was up 119.6% on a year-over-year basis. As a group, research analysts forecast that STAAR Surgical will post 0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On STAAR Surgical

A number of institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd lifted its holdings in STAAR Surgical by 58.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,669 shares of the medical instruments supplier’s stock valued at $39,000 after buying an additional 614 shares during the period. Invesco Ltd. grew its holdings in STAAR Surgical by 0.6% during the 3rd quarter. Invesco Ltd. now owns 150,896 shares of the medical instruments supplier’s stock worth $4,055,000 after acquiring an additional 956 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in STAAR Surgical by 2.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 52,535 shares of the medical instruments supplier’s stock worth $1,214,000 after acquiring an additional 1,234 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of STAAR Surgical by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,390 shares of the medical instruments supplier’s stock valued at $518,000 after acquiring an additional 1,267 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of STAAR Surgical by 3.7% during the 4th quarter. Deutsche Bank AG now owns 38,586 shares of the medical instruments supplier’s stock valued at $891,000 after acquiring an additional 1,382 shares during the last quarter. 96.70% of the stock is owned by institutional investors.

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.