STAAR Surgical (NASDAQ:STAA) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of STAAR Surgical (NASDAQ:STAAFree Report) from a hold rating to a buy rating in a report issued on Saturday morning.

A number of other brokerages have also commented on STAA. Morgan Stanley assumed coverage on STAAR Surgical in a report on Friday, January 16th. They set an “underweight” rating and a $13.00 price target for the company. Mizuho upped their price target on STAAR Surgical from $22.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday. Wedbush upgraded STAAR Surgical from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $26.00 to $40.00 in a report on Thursday. Piper Sandler upped their price target on STAAR Surgical from $16.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Weiss Ratings lowered STAAR Surgical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $27.81.

Read Our Latest Report on STAA

STAAR Surgical Stock Up 0.2%

Shares of STAA stock opened at $32.07 on Friday. STAAR Surgical has a 12 month low of $15.59 and a 12 month high of $35.87. The firm has a market cap of $1.60 billion, a PE ratio of -74.58 and a beta of 1.20. The stock has a 50 day moving average of $22.74 and a 200-day moving average of $22.65. The company has a quick ratio of 3.74, a current ratio of 5.12 and a debt-to-equity ratio of 0.09.

STAAR Surgical (NASDAQ:STAAGet Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. STAAR Surgical had a positive return on equity of 3.31% and a negative net margin of 7.24%.The company had revenue of $93.52 million during the quarter, compared to analyst estimates of $78.72 million. During the same period in the previous year, the company earned ($1.10) earnings per share. The company’s quarterly revenue was up 119.6% compared to the same quarter last year. On average, equities analysts predict that STAAR Surgical will post -0.03 EPS for the current year.

Insider Activity

In other news, Director Broadwood Partners, L.P. acquired 316,017 shares of the stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $18.61 per share, for a total transaction of $5,881,076.37. Following the completion of the transaction, the director owned 16,123,842 shares in the company, valued at approximately $300,064,699.62. This trade represents a 2.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders purchased 670,213 shares of company stock worth $12,266,249 in the last quarter. Insiders own 39.90% of the company’s stock.

Institutional Trading of STAAR Surgical

A number of institutional investors and hedge funds have recently modified their holdings of STAA. Caitong International Asset Management Co. Ltd increased its position in shares of 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 during the period. Ascentis Independent Advisors bought a new stake in shares of STAAR Surgical during the first quarter valued at approximately $77,000. Tower Research Capital LLC TRC increased its position in shares of 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 purchasing an additional 4,673 shares during the period. Russell Investments Group Ltd. increased its position in shares of STAAR Surgical by 9,928.9% during the third quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock valued at $121,000 after purchasing an additional 4,468 shares during the period. Finally, Wolverine Asset Management LLC bought a new stake in shares of STAAR Surgical during the third quarter valued at approximately $199,000. 96.70% of the stock is currently owned by institutional investors.

STAAR Surgical News Roundup

Here are the key news stories impacting STAAR Surgical this week:

STAAR Surgical Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for STAAR Surgical (NASDAQ:STAA)

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