Stifel Nicolaus Lowers STAAR Surgical (NASDAQ:STAA) Price Target to $28.00

STAAR Surgical (NASDAQ:STAA) had its price target decreased by equities researchers at Stifel Nicolaus from $31.00 to $28.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the medical instruments supplier’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 6.95% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. Wedbush decreased their target price on shares of STAAR Surgical from $40.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday. William Blair set a $33.00 price objective on STAAR Surgical in a report on Thursday. Piper Sandler reiterated a “neutral” rating on shares of STAAR Surgical in a research note on Thursday. UBS Group cut their target price on shares of STAAR Surgical from $20.00 to $19.00 and set a “sell” rating for the company in a research report on Thursday. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $28.00 price objective on shares of STAAR Surgical in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $27.50.

STAAR Surgical Price Performance

NASDAQ STAA opened at $26.18 on Monday. The stock’s 50 day moving average is $26.81 and its 200 day moving average is $24.18. The firm has a market capitalization of $1.30 billion, a PE ratio of 374.05 and a beta of 1.26. STAAR Surgical has a twelve month low of $15.59 and a twelve month high of $35.87.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings results on Wednesday, August 12th. The medical instruments supplier reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.06). STAAR Surgical had a return on equity of 9.05% and a net margin of 1.13%.The business had revenue of $93.53 million during the quarter, compared to the consensus estimate of $90.60 million. During the same quarter in the previous year, the business earned ($0.34) earnings per share. The firm’s revenue was up 111.1% compared to the same quarter last year. On average, research analysts anticipate that STAAR Surgical will post 0.13 earnings per share for the current year.

Institutional Investors Weigh In On STAAR Surgical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its holdings in STAAR Surgical by 2,605.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock valued at $28,000 after purchasing an additional 1,016 shares in the last quarter. Ascentis Independent Advisors bought a new position in STAAR Surgical in the 1st quarter worth $77,000. Tower Research Capital LLC TRC raised its holdings in STAAR Surgical by 375.0% during the second quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock valued at $99,000 after acquiring an additional 4,673 shares during the period. Russell Investments Group Ltd. lifted its position in shares of STAAR Surgical by 9,928.9% in the third quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock valued at $121,000 after acquiring an additional 4,468 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in shares of STAAR Surgical by 2,867.1% during the first 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 in the last quarter. 96.70% of the stock is owned by hedge funds and other 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. 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.