BidaskClub Upgrades STAAR Surgical (STAA) to Strong-Buy

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STAAR Surgical (NASDAQ:STAA) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday.

Several other equities research analysts also recently weighed in on STAA. Canaccord Genuity reaffirmed a “buy” rating and issued a $43.00 price target (up from $32.00) on shares of STAAR Surgical in a research note on Thursday, August 2nd. Benchmark started coverage on shares of STAAR Surgical in a research note on Monday, August 6th. They issued a “buy” rating and a $45.00 price target for the company. Finally, Zacks Investment Research raised shares of STAAR Surgical from a “hold” rating to a “strong-buy” rating and set a $46.00 price target for the company in a research note on Thursday, August 9th. Four investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $45.25.

STAA opened at $47.00 on Thursday. STAAR Surgical has a 1-year low of $13.60 and a 1-year high of $54.00. The company has a quick ratio of 4.76, a current ratio of 5.35 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 4,700.00 and a beta of 2.05.

STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.06. STAAR Surgical had a net margin of 3.17% and a return on equity of 14.80%. The firm had revenue of $31.77 million during the quarter, compared to the consensus estimate of $30.10 million. During the same period in the previous year, the firm posted $0.03 earnings per share. On average, equities analysts predict that STAAR Surgical will post 0.09 earnings per share for the current year.

In other news, Director William P. Wall sold 5,000 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $41.35, for a total transaction of $206,750.00. Following the completion of the sale, the director now directly owns 16,235 shares of the company’s stock, valued at $671,317.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.90% of the company’s stock.

Several large investors have recently bought and sold shares of STAA. Fuller & Thaler Asset Management Inc. bought a new stake in shares of STAAR Surgical during the second quarter worth about $11,121,000. Millennium Management LLC increased its position in shares of STAAR Surgical by 78.0% during the second quarter. Millennium Management LLC now owns 587,601 shares of the medical instruments supplier’s stock worth $18,216,000 after acquiring an additional 257,549 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of STAAR Surgical by 57.6% during the second quarter. Renaissance Technologies LLC now owns 619,000 shares of the medical instruments supplier’s stock worth $19,189,000 after acquiring an additional 226,200 shares in the last quarter. BlackRock Inc. increased its position in shares of STAAR Surgical by 7.9% during the third quarter. BlackRock Inc. now owns 3,068,690 shares of the medical instruments supplier’s stock worth $147,298,000 after acquiring an additional 224,997 shares in the last quarter. Finally, Hodges Capital Management Inc. bought a new stake in shares of STAAR Surgical during the third quarter worth about $10,052,000. 80.26% 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 delivery systems to deliver the lenses into the eye. The company provides Visian implantable collamer lenses (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness.

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