Brokerages Set STAAR Surgical (NASDAQ:STAA) PT at $46.38

Shares of STAAR Surgical (NASDAQ:STAA) have been given an average recommendation of “Hold” by the ten ratings firms that are covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $46.38.

Several research analysts recently commented on STAA shares. Canaccord Genuity Group raised their target price on STAAR Surgical from $32.00 to $46.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Stifel Nicolaus reiterated a “buy” rating and set a $50.00 target price on shares of STAAR Surgical in a research report on Monday, April 1st. Piper Sandler dropped their price target on shares of STAAR Surgical from $40.00 to $33.00 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. William Blair raised STAAR Surgical from a “market perform” rating to an “outperform” rating in a report on Thursday, April 4th. Finally, Mizuho increased their target price on STAAR Surgical from $45.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, April 11th.

Insiders Place Their Bets

In other STAAR Surgical news, Director Aimee S. Weisner bought 1,750 shares of the stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $38.11 per share, with a total value of $66,692.50. Following the acquisition, the director now owns 10,864 shares of the company’s stock, valued at $414,027.04. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

Several institutional investors have recently modified their holdings of STAA. BNP Paribas Financial Markets boosted its stake in STAAR Surgical by 3.1% during the 1st quarter. BNP Paribas Financial Markets now owns 290,243 shares of the medical instruments supplier’s stock worth $11,111,000 after acquiring an additional 8,696 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in shares of STAAR Surgical by 17.8% in the 1st quarter. Perigon Wealth Management LLC now owns 8,586 shares of the medical instruments supplier’s stock valued at $329,000 after buying an additional 1,298 shares during the period. Principal Financial Group Inc. increased its position in shares of STAAR Surgical by 7.7% in the 1st quarter. Principal Financial Group Inc. now owns 302,669 shares of the medical instruments supplier’s stock valued at $11,586,000 after buying an additional 21,662 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in STAAR Surgical during the 1st quarter worth $7,833,000. Finally, New Mexico Educational Retirement Board bought a new position in STAAR Surgical during the first quarter worth about $371,000. 96.70% of the stock is currently owned by institutional investors and hedge funds.

STAAR Surgical Price Performance

Shares of STAAR Surgical stock opened at $45.51 on Wednesday. The firm has a fifty day moving average price of $41.38 and a two-hundred day moving average price of $35.78. STAAR Surgical has a fifty-two week low of $26.66 and a fifty-two week high of $69.00. The company has a market cap of $2.24 billion, a PE ratio of 105.84 and a beta of 0.80.

STAAR Surgical (NASDAQ:STAA) last released its earnings results on Monday, February 26th. The medical instruments supplier reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $76.27 million for the quarter, compared to analyst estimates of $75.94 million. STAAR Surgical had a return on equity of 8.73% and a net margin of 6.62%. The firm’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period last year, the business earned $0.04 earnings per share. Analysts expect that STAAR Surgical will post 0.03 earnings per share for the current fiscal year.

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.