STAAR Surgical Company (NASDAQ:STAA) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Analysts have a consensus “Hold” rating on STAAR Surgical, with three sell, seven hold, and three buy ratings. The average 12-month price target is $27.90.
• STAAR Surgical exceeded quarterly expectations, reporting $0.39 in EPS versus $0.22 expected and $93.53 million in revenue, up 111.1% year over year.
• The stock opened at $20.65, below its 50-day and 200-day moving averages, while institutional investors and hedge funds own a substantial 96.7% of outstanding shares.

Shares of STAAR Surgical Company (NASDAQ:STAA - Get Free Report) have been given a consensus rating of "Hold" by the thirteen research firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $27.90.

Several equities analysts have recently commented on STAA shares. William Blair set a $33.00 target price on shares of STAAR Surgical in a research report on Thursday, August 13th. Wall Street Zen lowered shares of STAAR Surgical from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings raised shares of STAAR Surgical from a "sell (d-)" rating to a "sell (d+)" rating in a research note on Thursday, August 13th. Stifel Nicolaus lowered their price objective on shares of STAAR Surgical from $31.00 to $28.00 and set a "hold" rating for the company in a research report on Monday, August 17th. Finally, Wedbush reduced their price objective on STAAR Surgical from $40.00 to $37.00 and set an "outperform" rating on the stock in a research note on Thursday, August 13th.

STAAR Surgical Stock Performance

NASDAQ:STAA opened at $20.65 on Wednesday. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 295.04 and a beta of 1.21. STAAR Surgical has a fifty-two week low of $15.59 and a fifty-two week high of $35.87. The stock has a fifty day moving average price of $23.72 and a 200-day moving average price of $25.08.

STAAR Surgical (NASDAQ:STAA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The medical instruments supplier reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.17. STAAR Surgical had a return on equity of 9.05% and a net margin of 1.13%.The company had revenue of $93.53 million for the quarter, compared to analysts' expectations of $90.60 million. During the same quarter last year, the business earned ($0.34) earnings per share. STAAR Surgical's revenue was up 111.1% on a year-over-year basis. Research analysts predict that STAAR Surgical will post 0.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Tidal Investments LLC acquired a new stake in shares of STAAR Surgical during the 2nd quarter valued at $952,000. Engineers Gate Manager LP acquired a new position in STAAR Surgical in the 2nd quarter worth about $618,000. Arizona State Retirement System acquired a new position in STAAR Surgical in the 2nd quarter worth about $235,000. Corient Private Wealth LP raised its position in STAAR Surgical by 1.6% in the second quarter. Corient Private Wealth LP now owns 48,968 shares of the medical instruments supplier's stock valued at $1,405,000 after purchasing an additional 771 shares during the last quarter. Finally, Angeles Wealth Management LLC acquired a new stake in shares of STAAR Surgical during the second quarter valued at about $209,000. 96.70% of the stock is currently owned by institutional investors and hedge funds.

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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.

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