STAAR Surgical Company (NASDAQ:STAA) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• STAAR Surgical has a consensus “Hold” rating from 13 analysts: seven holds, three sells, two buys, and one strong buy. The average 12-month price target is $28.40.
• The company reported quarterly EPS of $0.39, beating estimates of $0.22, while revenue reached $93.53 million versus expectations of $90.60 million. Revenue increased 111.1% year over year.
• Institutional investors own 96.7% of the stock, with several hedge funds recently increasing their positions, including Broadwood Capital, Soleus Capital, Magnetar Financial, and Goldman Sachs.

STAAR Surgical Company (NASDAQ:STAA - Get Free Report) has received an average rating of "Hold" from the thirteen research firms that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $28.40.

STAA has been the subject of several recent research reports. Wedbush reduced their target price on shares of STAAR Surgical from $40.00 to $37.00 and set an "outperform" rating for the company in a research note on Thursday, August 13th. Canaccord Genuity Group raised their price objective on shares of STAAR Surgical from $27.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, May 14th. Wells Fargo & Company lifted their price objective on shares of STAAR Surgical from $16.00 to $25.00 and gave the company an "equal weight" rating in a research note on Friday, May 15th. Weiss Ratings raised shares of STAAR Surgical from a "sell (d-)" rating to a "sell (d+)" rating in a report on Thursday, August 13th. Finally, Stifel Nicolaus lowered their target price on shares of STAAR Surgical from $31.00 to $28.00 and set a "hold" rating on the stock in a report on Monday, August 17th.

STAAR Surgical Stock Performance

STAA stock opened at $22.11 on Friday. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 315.90 and a beta of 1.26. 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 of $25.66 and a 200-day moving average of $24.49.

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

Hedge Funds Weigh In On STAAR Surgical

Several hedge funds have recently made changes to their positions in the stock. Broadwood Capital Inc. grew its stake in STAAR Surgical by 11.1% during the fourth quarter. Broadwood Capital Inc. now owns 15,019,491 shares of the medical instruments supplier's stock valued at $346,800,000 after acquiring an additional 1,500,000 shares in the last quarter. Soleus Capital Management L.P. lifted its stake in STAAR Surgical by 16.5% in the 2nd quarter. Soleus Capital Management L.P. now owns 2,984,733 shares of the medical instruments supplier's stock worth $50,084,000 after purchasing an additional 421,840 shares in the last quarter. Yunqi Capital Ltd boosted its holdings in STAAR Surgical by 0.3% in the 4th quarter. Yunqi Capital Ltd now owns 2,507,130 shares of the medical instruments supplier's stock valued at $57,890,000 after purchasing an additional 7,069 shares during the period. Magnetar Financial LLC boosted its holdings in STAAR Surgical by 105.3% in the 4th quarter. Magnetar Financial LLC now owns 2,472,390 shares of the medical instruments supplier's stock valued at $57,087,000 after purchasing an additional 1,268,019 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of STAAR Surgical by 112.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,076,743 shares of the medical instruments supplier's stock valued at $47,952,000 after purchasing an additional 1,100,484 shares in the last quarter. 96.70% of the stock is currently 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. 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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