STAAR Surgical’s (STAA) Hold Rating Reiterated at Needham & Company LLC

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

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

STAAR Surgical Stock Down 2.6 %

STAA 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 firm has a 50 day moving average price of $32.06 and a 200-day moving average price of $38.76. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 86.74 and a beta of 0.59.

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

Insider Activity

In other STAAR Surgical news, Director Arthur C. Butcher purchased 1,315 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $37.99 per share, with a total value of $49,956.85. Following the acquisition, the director now owns 4,208 shares in the company, valued at approximately $159,861.92. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On STAAR Surgical

Several institutional investors and hedge funds have recently modified their holdings of the stock. Arcadia Investment Management Corp MI bought a new position in STAAR Surgical during the third quarter valued at approximately $37,000. Covestor Ltd boosted its stake in shares of 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 purchasing an additional 754 shares during the period. Canada Pension Plan Investment Board bought a new position in STAAR Surgical during the 2nd quarter valued at about $129,000. Van ECK Associates Corp raised its holdings in shares of STAAR Surgical by 12.7% in the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock worth $129,000 after buying an additional 393 shares during the period. Finally, Larson Financial Group LLC bought a new stake in shares of STAAR Surgical during the 2nd quarter worth approximately $130,000. Institutional investors own 96.70% of the company’s stock.

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.