Stifel Nicolaus Cuts STAAR Surgical (NASDAQ:STAA) Price Target to $44.00

STAAR Surgical (NASDAQ:STAA) had its target price cut by Stifel Nicolaus from $50.00 to $44.00 in a report issued on Monday, Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

A number of other brokerages have also weighed in on STAA. Piper Sandler raised their price objective on shares of STAAR Surgical from $33.00 to $40.00 and gave the company a neutral rating in a report on Wednesday, May 8th. Canaccord Genuity Group lowered their price objective on shares of STAAR Surgical from $43.00 to $41.00 and set a hold rating on the stock in a research report on Thursday, August 8th. BTIG Research upped their price objective on STAAR Surgical from $46.00 to $53.00 and gave the stock a buy rating in a report on Monday, July 15th. Mizuho increased their target price on shares of STAAR Surgical from $53.00 to $55.00 and gave the company a buy rating in a report on Wednesday, May 8th. Finally, Morgan Stanley downgraded STAAR Surgical from an equal weight rating to an underweight rating and cut their price target for the stock from $50.00 to $37.00 in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $45.57.

STAAR Surgical Stock Up 0.7 %

NASDAQ STAA opened at $32.14 on Monday. The firm has a market cap of $1.58 billion, a PE ratio of 103.68 and a beta of 0.59. The business’s fifty day simple moving average is $40.46 and its 200-day simple moving average is $40.37. STAAR Surgical has a 52 week low of $26.66 and a 52 week high of $52.68.

STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings data on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). The company had revenue of $99.01 million for the quarter, compared to analysts’ expectations of $95.22 million. STAAR Surgical had a return on equity of 5.60% and a net margin of 4.99%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS. Research analysts expect that STAAR Surgical will post 0.13 EPS for the current year.

Insider Buying and Selling

In other news, Director Arthur C. Butcher bought 1,315 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $37.99 per share, for a total transaction of $49,956.85. Following the completion of the transaction, the director now owns 4,208 shares in the company, valued at $159,861.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On STAAR Surgical

A number of large investors have recently bought and sold shares of the stock. Cetera Investment Advisers purchased a new position in STAAR Surgical during the second quarter worth approximately $1,135,000. Truist Financial Corp purchased a new position in STAAR Surgical during the second quarter worth approximately $268,000. Algert Global LLC raised its stake in STAAR Surgical by 13.5% during the second quarter. Algert Global LLC now owns 116,655 shares of the medical instruments supplier’s stock worth $5,554,000 after purchasing an additional 13,901 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of STAAR Surgical by 16.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,008 shares of the medical instruments supplier’s stock valued at $1,286,000 after acquiring an additional 3,758 shares during the period. Finally, Millennium Management LLC raised its stake in shares of STAAR Surgical by 84.2% in the 2nd quarter. Millennium Management LLC now owns 178,772 shares of the medical instruments supplier’s stock valued at $8,511,000 after acquiring an additional 81,738 shares during the period. Hedge funds and other institutional investors own 96.70% of the company’s stock.

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.