STAAR Surgical (NASDAQ:STAA) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of STAAR Surgical (NASDAQ:STAA) from a hold rating to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the company. Wedbush reissued an “outperform” rating and set a $40.00 price objective on shares of STAAR Surgical in a research note on Tuesday. Canaccord Genuity Group upped their target price on STAAR Surgical from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Stifel Nicolaus lifted their price target on STAAR Surgical from $18.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, May 14th. Piper Sandler boosted their price objective on STAAR Surgical from $16.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, Wells Fargo & Company raised their target price on shares of STAAR Surgical from $16.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, STAAR Surgical has an average rating of “Hold” and an average price target of $26.94.

STAAR Surgical Stock Down 5.2%

STAA stock opened at $22.86 on Tuesday. The stock has a 50-day simple moving average of $27.43 and a two-hundred day simple moving average of $23.95. STAAR Surgical has a twelve month low of $15.59 and a twelve month high of $35.87. The firm has a market capitalization of $1.14 billion, a PE ratio of -53.16 and a beta of 1.26. The company has a quick ratio of 4.31, a current ratio of 5.12 and a debt-to-equity ratio of 0.09.

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

Hedge Funds Weigh In On STAAR Surgical

Hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd lifted its stake in STAAR Surgical by 2,605.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock worth $28,000 after acquiring an additional 1,016 shares during the period. Ascentis Independent Advisors purchased a new position in STAAR Surgical during the 1st quarter valued at $77,000. Tower Research Capital LLC TRC raised its holdings in STAAR Surgical by 375.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock worth $99,000 after purchasing an additional 4,673 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of STAAR Surgical by 9,928.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock worth $121,000 after purchasing an additional 4,468 shares during the period. Finally, Fifth Third Bancorp lifted its position in shares of STAAR Surgical by 2,867.1% in the 1st quarter. Fifth Third Bancorp now owns 11,008 shares of the medical instruments supplier’s stock worth $206,000 after purchasing an additional 10,637 shares during the period. Institutional investors own 96.70% of the company’s stock.

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.