STAAR Surgical (STAA) Rating Lowered to Sell at Zacks Investment Research

STAAR Surgical (NASDAQ:STAA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

According to Zacks, “Staar Surgical Company has evolved to become a developer, manufacturer and global distributor of products used by ophthalmologists and other eye care professionals to improve or correct vision in patients suffering from refractive conditions, cataracts and glaucoma. “

Separately, BidaskClub cut shares of STAAR Surgical from a “buy” rating to a “hold” rating in a research note on Thursday, March 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $17.67.



Shares of STAA stock opened at $13.95 on Thursday. STAAR Surgical has a 52-week low of $8.95 and a 52-week high of $17.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.82 and a quick ratio of 2.13.

STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings data on Wednesday, February 28th. The medical instruments supplier reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). STAAR Surgical had a negative net margin of 2.36% and a negative return on equity of 2.28%. The business had revenue of $24.85 million during the quarter. equities analysts predict that STAAR Surgical will post 0.03 EPS for the current year.

In related news, CEO Caren L. Mason sold 6,667 shares of the stock in a transaction dated Monday, March 19th. The shares were sold at an average price of $16.09, for a total transaction of $107,272.03. Following the completion of the sale, the chief executive officer now owns 51,513 shares in the company, valued at approximately $828,844.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Samuel J. Gesten sold 2,833 shares of the stock in a transaction dated Thursday, March 22nd. The stock was sold at an average price of $16.05, for a total transaction of $45,469.65. Following the sale, the insider now owns 38,316 shares of the company’s stock, valued at approximately $614,971.80. The disclosure for this sale can be found here. Insiders have sold a total of 13,479 shares of company stock valued at $216,561 in the last quarter. 5.60% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in STAA. Millennium Management LLC acquired a new stake in shares of STAAR Surgical during the 4th quarter worth about $7,153,000. Folger Hill Asset Management LP acquired a new stake in shares of STAAR Surgical during the 4th quarter worth about $2,170,000. Deutsche Bank AG increased its position in shares of STAAR Surgical by 133.2% during the 4th quarter. Deutsche Bank AG now owns 177,814 shares of the medical instruments supplier’s stock worth $2,754,000 after purchasing an additional 101,573 shares in the last quarter. Two Sigma Investments LP increased its position in shares of STAAR Surgical by 113.8% during the 4th quarter. Two Sigma Investments LP now owns 163,103 shares of the medical instruments supplier’s stock worth $2,528,000 after purchasing an additional 86,831 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of STAAR Surgical by 3.2% during the 4th quarter. BlackRock Inc. now owns 2,609,981 shares of the medical instruments supplier’s stock worth $40,456,000 after purchasing an additional 79,933 shares in the last quarter. Institutional investors and hedge funds own 78.95% of the company’s stock.

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About STAAR Surgical

STAAR Surgical Company designs, develops, manufactures and sells implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. It operates in the ophthalmic surgical market segment. Its principal products are intraocular lenses used in cataract surgery and implantable collamer lenses used in refractive surgery.

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