STAAR Surgical (NASDAQ:STAA) Receives Hold Rating from Needham & Company LLC

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

Several other research analysts have also recently weighed in on the stock. Stifel Nicolaus reissued a “buy” rating and set a $50.00 price target on shares of STAAR Surgical in a research report on Monday. Piper Sandler dropped their price target on shares of STAAR Surgical from $40.00 to $33.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Finally, Mizuho dropped their price target on shares of STAAR Surgical from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $45.63.

View Our Latest Stock Analysis on STAAR Surgical

STAAR Surgical Price Performance

NASDAQ STAA traded up $5.34 during trading on Thursday, reaching $44.41. 405,212 shares of the company’s stock traded hands, compared to its average volume of 724,440. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 104.30 and a beta of 0.86. The company’s 50 day simple moving average is $33.62 and its two-hundred day simple moving average is $34.73. STAAR Surgical has a 12-month low of $26.66 and a 12-month high of $73.13.

STAAR Surgical (NASDAQ:STAAGet Free Report) last released its quarterly 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). STAAR Surgical had a net margin of 6.62% and a return on equity of 8.73%. The firm had revenue of $76.27 million during the quarter, compared to the consensus estimate of $75.94 million. During the same quarter in the prior year, the business posted $0.04 earnings per share. The firm’s quarterly revenue was up 19.1% on a year-over-year basis. Research analysts expect that STAAR Surgical will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling at STAAR Surgical

In other STAAR Surgical news, Director Aimee S. Weisner bought 1,750 shares of the stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $38.11 per share, with a total value of $66,692.50. Following the acquisition, the director now directly owns 10,864 shares of the company’s stock, valued at approximately $414,027.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Aimee S. Weisner bought 1,750 shares of the stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $38.11 per share, with a total value of $66,692.50. Following the purchase, the director now owns 10,864 shares of the company’s stock, valued at $414,027.04. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Broadwood Partners, L.P. acquired 4,042 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The shares were bought at an average cost of $27.11 per share, with a total value of $109,578.62. Following the completion of the purchase, the insider now owns 10,768,430 shares of the company’s stock, valued at $291,932,137.30. The disclosure for this purchase can be found here. Insiders have acquired 162,526 shares of company stock valued at $4,640,055 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Institutional Trading of STAAR Surgical

Large investors have recently made changes to their positions in the company. Broadwood Capital Inc. lifted its position in shares of STAAR Surgical by 13.7% during the 4th 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. BlackRock Inc. grew its position in STAAR Surgical by 8.3% in the second quarter. BlackRock Inc. now owns 6,339,320 shares of the medical instruments supplier’s stock worth $333,258,000 after acquiring an additional 486,781 shares in the last quarter. Vanguard Group Inc. grew its position in STAAR Surgical by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,468,710 shares of the medical instruments supplier’s stock worth $170,678,000 after acquiring an additional 43,083 shares in the last quarter. Anatole Investment Management Ltd purchased a new position in STAAR Surgical in the first quarter worth $130,633,000. Finally, State Street Corp grew its position in STAAR Surgical by 4.2% in the second quarter. State Street Corp now owns 1,754,495 shares of the medical instruments supplier’s stock worth $92,234,000 after acquiring an additional 71,351 shares in the last quarter. 96.70% of the stock is currently owned by institutional investors and hedge funds.

About STAAR Surgical

(Get Free Report)

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.

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