STAAR Surgical (NASDAQ:STAA) Price Target Raised to $53.00

STAAR Surgical (NASDAQ:STAA - Get Free Report) had its target price increased by equities research analysts at Mizuho from $45.00 to $53.00 in a report issued on Thursday, Benzinga reports. The firm currently has a "buy" rating on the medical instruments supplier's stock. Mizuho's target price points to a potential upside of 2.71% from the stock's previous close.

STAA has been the topic of several other research reports. Canaccord Genuity Group lifted their target price on shares of STAAR Surgical from $32.00 to $46.00 and gave the company a "hold" rating in a report on Monday. Needham & Company LLC reissued a "hold" rating on shares of STAAR Surgical in a research note on Thursday, April 4th. Stifel Nicolaus reissued a "buy" rating and issued a $50.00 price target on shares of STAAR Surgical in a report on Monday, April 1st. William Blair raised STAAR Surgical from a "market perform" rating to an "outperform" rating in a report on Thursday, April 4th. Finally, Piper Sandler reduced their target price on STAAR Surgical from $40.00 to $33.00 and set a "neutral" rating for the company in a report on Tuesday, February 27th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $46.38.

STAAR Surgical Stock Up 1.0 %

STAA traded up $0.52 on Thursday, hitting $51.60. 414,797 shares of the company traded hands, compared to its average volume of 785,168. STAAR Surgical has a 12-month low of $26.66 and a 12-month high of $73.13. The company has a 50 day moving average of $36.08 and a 200-day moving average of $35.15. The stock has a market capitalization of $2.52 billion, a PE ratio of 120.00 and a beta of 0.86.

STAAR Surgical (NASDAQ:STAA - Get Free Report) last released its earnings results on Monday, February 26th. The medical instruments supplier reported $0.16 earnings per share (EPS) 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 company had revenue of $76.27 million during the quarter, compared to analyst estimates of $75.94 million. During the same period in the previous year, the firm posted $0.04 EPS. The company's revenue for the quarter was up 19.1% on a year-over-year basis. On average, research analysts anticipate that STAAR Surgical will post 0.03 EPS for the current year.

Insider Transactions at STAAR Surgical

In related news, Director Aimee S. Weisner purchased 1,750 shares of the business's 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 completion of the acquisition, the director now directly owns 10,864 shares in the company, valued at approximately $414,027.04. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On STAAR Surgical

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of STAAR Surgical by 313.9% during the 1st quarter. GAMMA Investing LLC now owns 1,308 shares of the medical instruments supplier's stock valued at $50,000 after acquiring an additional 992 shares during the last quarter. Vanguard Group Inc. grew its holdings 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 valued at $170,678,000 after purchasing an additional 43,083 shares during the period. Sierra Summit Advisors LLC acquired a new position in STAAR Surgical during the fourth quarter worth approximately $323,000. Price T Rowe Associates Inc. MD raised its stake in STAAR Surgical by 7.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 28,497 shares of the medical instruments supplier's stock worth $890,000 after purchasing an additional 1,907 shares during the period. Finally, GSA Capital Partners LLP boosted its holdings in shares of STAAR Surgical by 38.0% in the 4th quarter. GSA Capital Partners LLP now owns 15,524 shares of the medical instruments supplier's stock valued at $485,000 after purchasing an additional 4,272 shares during 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.