BidaskClub upgraded shares of STAAR Surgical (NASDAQ:STAA) from a sell rating to a hold rating in a research note issued to investors on Wednesday.
Several other research firms have also issued reports on STAA. Benchmark restated a buy rating and set a $54.00 price target (up from $45.00) on shares of STAAR Surgical in a research report on Monday, September 24th. TheStreet lowered shares of STAAR Surgical from a b- rating to a c rating in a report on Friday, December 14th. Canaccord Genuity increased their target price on shares of STAAR Surgical from $43.00 to $55.00 and gave the stock a buy rating in a report on Friday, September 14th. ValuEngine lowered shares of STAAR Surgical from a strong-buy rating to a buy rating in a report on Friday, December 21st. Finally, Zacks Investment Research upgraded shares of STAAR Surgical from a hold rating to a strong-buy rating and set a $51.00 target price for the company in a report on Thursday, November 8th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $45.25.
NASDAQ:STAA traded down $0.05 during midday trading on Wednesday, hitting $32.55. The company had a trading volume of 9,172 shares, compared to its average volume of 524,150. STAAR Surgical has a 52-week low of $13.60 and a 52-week high of $54.00. The firm has a market capitalization of $1.30 billion, a PE ratio of 3,228.00 and a beta of 1.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.76 and a current ratio of 5.35.
STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.03 earnings per share (EPS) 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 business had revenue of $31.77 million during the quarter, compared to analyst estimates of $30.10 million. During the same period in the prior year, the business posted $0.03 earnings per share. On average, sell-side analysts forecast that STAAR Surgical will post 0.09 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in STAA. Winslow Evans & Crocker Inc. bought a new position in STAAR Surgical in the third quarter worth about $142,000. Tower Research Capital LLC TRC increased its stake in shares of STAAR Surgical by 367.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,877 shares of the medical instruments supplier’s stock valued at $213,000 after purchasing an additional 5,405 shares in the last quarter. Alambic Investment Management L.P. bought a new position in shares of STAAR Surgical during the second quarter valued at approximately $214,000. Harvest Fund Management Co. Ltd bought a new position in shares of STAAR Surgical during the third quarter valued at approximately $222,000. Finally, Xact Kapitalforvaltning AB bought a new position in shares of STAAR Surgical during the third quarter valued at approximately $278,000. 85.80% 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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