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

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

STAA has been the topic of a number of other research reports. Mizuho lifted their price target on shares of STAAR Surgical from $53.00 to $55.00 and gave the company a buy rating in a research note on Wednesday, May 8th. BTIG Research upped their price objective on shares of STAAR Surgical from $46.00 to $53.00 and gave the company a buy rating in a report on Monday, July 15th. Needham & Company LLC reissued a hold rating on shares of STAAR Surgical in a research report on Thursday, August 8th. Canaccord Genuity Group lowered their target price 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. Finally, Morgan Stanley downgraded STAAR Surgical from an equal weight rating to an underweight rating and lowered their price objective for the company from $50.00 to $37.00 in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, STAAR Surgical currently has an average rating of Hold and a consensus price target of $45.57.

STAAR Surgical Trading Up 0.7 %

Shares of NASDAQ STAA opened at $32.14 on Monday. The firm has a market capitalization of $1.58 billion, a PE ratio of 103.68 and a beta of 0.59. STAAR Surgical has a 1 year low of $26.66 and a 1 year high of $52.68. The firm’s 50-day moving average is $40.46 and its 200-day moving average is $40.37.

STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings data 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 return on equity of 5.60% and a net margin of 4.99%. 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 business earned $0.23 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts anticipate that STAAR Surgical will post 0.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Arthur C. Butcher purchased 1,315 shares of STAAR Surgical stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $37.99 per share, for a total transaction of $49,956.85. Following the completion of the acquisition, the director now directly owns 4,208 shares of the company’s stock, valued at $159,861.92. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Broadwood Capital Inc. lifted its holdings in shares of STAAR Surgical by 13.7% in the fourth quarter. Broadwood Capital Inc. now owns 10,537,835 shares of the medical instruments supplier’s stock worth $328,886,000 after buying an additional 1,273,408 shares in the last quarter. Norges Bank bought a new position in shares of STAAR Surgical during the 4th quarter valued at approximately $13,615,000. Granite Investment Partners LLC bought a new position in STAAR Surgical during the second quarter valued at $17,237,000. Yunqi Capital Ltd raised its position in STAAR Surgical by 162.0% in the 1st quarter. Yunqi Capital Ltd now owns 515,300 shares of the medical instruments supplier’s stock worth $19,726,000 after purchasing an additional 318,600 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in shares of STAAR Surgical by 296.0% during the 4th quarter. BNP Paribas Financial Markets now owns 281,547 shares of the medical instruments supplier’s stock worth $8,787,000 after acquiring an additional 210,443 shares during the last quarter. 96.70% of the stock is owned by hedge funds and other institutional investors.

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.