STAAR Surgical (NASDAQ:STAA) Given Hold Rating at Needham & Company LLC

STAAR Surgical (NASDAQ:STAA)‘s stock had its “hold” rating reiterated by equities researchers at Needham & Company LLC in a report issued on Thursday, Benzinga reports.

STAA has been the topic of several other reports. BTIG Research lifted their price target on shares of STAAR Surgical from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Canaccord Genuity Group reduced their target price on STAAR Surgical from $43.00 to $41.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley lowered STAAR Surgical from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $50.00 to $37.00 in a research note on Monday, July 15th. Finally, Stifel Nicolaus decreased their price objective on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $45.57.

STAAR Surgical Stock Down 2.6 %

STAAR Surgical stock opened at $29.49 on Thursday. STAAR Surgical has a twelve month low of $26.66 and a twelve month high of $52.68. The business has a fifty day moving average of $32.06 and a two-hundred day moving average of $38.76. The firm has a market cap of $1.45 billion, a P/E ratio of 86.74 and a beta of 0.59.

STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Wednesday, August 7th. The medical instruments supplier reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). STAAR Surgical had a return on equity of 5.60% and a net margin of 4.99%. The firm had revenue of $99.01 million during the quarter, compared to the consensus estimate of $95.22 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities analysts expect that STAAR Surgical will post 0.16 earnings per share for the current year.

Insider Buying and Selling at STAAR Surgical

In other news, Director Arthur C. Butcher acquired 1,315 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $37.99 per share, with a total value of $49,956.85. Following the purchase, the director now directly owns 4,208 shares of the company’s stock, valued at $159,861.92. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On STAAR Surgical

A number of institutional investors have recently modified their holdings of the business. Arcadia Investment Management Corp MI purchased a new position in shares of STAAR Surgical during the 3rd quarter valued at approximately $37,000. Covestor Ltd increased its stake in STAAR Surgical by 38.9% during the 1st quarter. Covestor Ltd now owns 2,690 shares of the medical instruments supplier’s stock worth $103,000 after buying an additional 754 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of STAAR Surgical in the second quarter worth approximately $129,000. Van ECK Associates Corp increased its position in shares of STAAR Surgical by 12.7% during the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock worth $129,000 after purchasing an additional 393 shares in the last quarter. Finally, Larson Financial Group LLC purchased a new position in STAAR Surgical in the 2nd quarter valued at $130,000. 96.70% of the stock is currently owned by institutional investors and hedge funds.

About STAAR Surgical

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.