Piper Sandler Increases STAAR Surgical (NASDAQ:STAA) Price Target to $40.00

STAAR Surgical (NASDAQ:STAA - Get Free Report) had its price target lifted by Piper Sandler from $33.00 to $40.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a "neutral" rating on the medical instruments supplier's stock. Piper Sandler's price objective would indicate a potential downside of 2.49% from the stock's previous close.

STAA has been the subject of a number of other research reports. Mizuho boosted their price target on STAAR Surgical from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday. 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 objective on shares of STAAR Surgical in a research note on Monday, April 1st. William Blair upgraded STAAR Surgical from a "market perform" rating to an "outperform" rating in a report on Thursday, April 4th. Finally, Canaccord Genuity Group boosted their price target on shares of STAAR Surgical from $32.00 to $46.00 and gave the company a "hold" rating in a research note on Monday, April 8th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $47.13.

STAAR Surgical Stock Performance

Shares of NASDAQ STAA traded down $5.63 during trading hours on Wednesday, reaching $41.02. 1,397,232 shares of the stock were exchanged, compared to its average volume of 733,341. The stock's fifty day simple moving average is $41.94 and its 200 day simple moving average is $35.84. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 95.40 and a beta of 0.80. STAAR Surgical has a 52 week low of $26.66 and a 52 week high of $68.27.

STAAR Surgical (NASDAQ:STAA - Get Free Report) last announced its earnings results on Tuesday, May 7th. The medical instruments supplier reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.12). STAAR Surgical had a return on equity of 8.73% and a net margin of 6.62%. The business had revenue of $77.40 million for the quarter, compared to analyst estimates of $75.34 million. During the same quarter in the previous year, the company earned $0.05 EPS. The business's revenue for the quarter was up 5.3% on a year-over-year basis. Research analysts predict that STAAR Surgical will post 0.03 EPS for the current fiscal year.

Insider Activity

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 purchased 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 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 hyperlink. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC increased its position in shares of STAAR Surgical by 8.4% in the first quarter. ProShare Advisors LLC now owns 9,892 shares of the medical instruments supplier's stock worth $379,000 after purchasing an additional 763 shares during the last quarter. Russell Investments Group Ltd. grew its position in STAAR Surgical by 1.5% in the first quarter. Russell Investments Group Ltd. now owns 36,931 shares of the medical instruments supplier's stock worth $1,406,000 after acquiring an additional 555 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in STAAR Surgical in the 1st quarter worth approximately $2,731,000. Swiss National Bank increased its holdings in shares of STAAR Surgical by 0.8% in the first quarter. Swiss National Bank now owns 77,100 shares of the medical instruments supplier's stock worth $2,951,000 after buying an additional 600 shares during the period. Finally, Defender Capital LLC. boosted its stake in shares of STAAR Surgical by 1.1% during the 1st quarter. Defender Capital LLC. now owns 730,387 shares of the medical instruments supplier's stock valued at $27,959,000 after purchasing an additional 7,855 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.