STAAR Surgical (NASDAQ:STAA) PT Raised to $46.00 at Canaccord Genuity Group

STAAR Surgical (NASDAQ:STAA - Free Report) had its target price boosted by Canaccord Genuity Group from $32.00 to $46.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a hold rating on the medical instruments supplier's stock.

Several other analysts have also recently issued reports on STAA. Mizuho dropped their price objective on shares of STAAR Surgical from $50.00 to $45.00 and set a buy rating for the company in a research note on Wednesday, February 28th. Stifel Nicolaus reaffirmed a buy rating and set a $50.00 price objective on shares of STAAR Surgical in a research note on Monday, April 1st. William Blair raised shares of STAAR Surgical from a market perform rating to an outperform rating in a research note on Thursday. Piper Sandler dropped their price target on shares of STAAR Surgical from $40.00 to $33.00 and set a neutral rating for the company in a research note on Tuesday, February 27th. Finally, Needham & Company LLC reissued a hold rating on shares of STAAR Surgical in a research note on Thursday. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $45.38.

STAAR Surgical Stock Performance

Shares of STAA traded up $0.81 during mid-day trading on Monday, hitting $49.49. 1,447,468 shares of the company were exchanged, compared to its average volume of 781,533. STAAR Surgical has a 1-year low of $26.66 and a 1-year high of $73.13. The company has a 50 day moving average of $34.70 and a 200-day moving average of $34.83. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 115.09 and a beta of 0.85.

STAAR Surgical (NASDAQ:STAA - Get Free Report) last announced its quarterly earnings data on Monday, February 26th. The medical instruments supplier reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). STAAR Surgical had a net margin of 6.62% and a return on equity of 8.73%. The business had revenue of $76.27 million for the quarter, compared to analysts' expectations of $75.94 million. During the same period in the prior year, the company posted $0.04 EPS. The firm's revenue was up 19.1% on a year-over-year basis. Research analysts anticipate that STAAR Surgical will post 0.03 earnings per share for the current fiscal year.

Insider Transactions at STAAR Surgical

In related news, Director Aimee S. Weisner acquired 1,750 shares of the firm's stock in a transaction dated Thursday, March 14th. The shares were purchased at an average cost of $38.11 per share, for a total transaction of $66,692.50. Following the acquisition, the director now owns 10,864 shares in the company, valued at approximately $414,027.04. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On STAAR Surgical

Large investors have recently made changes to their positions in the stock. Clear Street Markets LLC acquired a new stake in STAAR Surgical during the 3rd quarter worth approximately $29,000. Evermay Wealth Management LLC lifted its holdings in STAAR Surgical by 100.0% during the 1st quarter. Evermay Wealth Management LLC now owns 600 shares of the medical instruments supplier's stock worth $38,000 after buying an additional 300 shares in the last quarter. Cape Investment Advisory Inc. acquired a new stake in STAAR Surgical during the 4th quarter worth approximately $42,000. GAMMA Investing LLC lifted its holdings in STAAR Surgical by 313.9% during the 1st quarter. GAMMA Investing LLC now owns 1,308 shares of the medical instruments supplier's stock worth $50,000 after buying an additional 992 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in STAAR Surgical by 131.1% during the 1st quarter. Lazard Asset Management LLC now owns 684 shares of the medical instruments supplier's stock worth $54,000 after buying an additional 388 shares in the last quarter. 96.70% of the stock is currently owned by institutional investors and hedge funds.

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.