STAAR Surgical (NASDAQ:STAA) PT Lowered to $43.00 at Canaccord Genuity Group

STAAR Surgical (NASDAQ:STAA - Get Free Report) had its price target dropped by stock analysts at Canaccord Genuity Group from $46.00 to $43.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a "hold" rating on the medical instruments supplier's stock. Canaccord Genuity Group's target price would suggest a potential upside of 4.83% from the company's current price.

Several other equities analysts have also recently weighed in on the company. Piper Sandler boosted their price objective on STAAR Surgical from $33.00 to $40.00 and gave the stock a "neutral" rating in a research report on Wednesday. Needham & Company LLC reissued a "hold" rating on shares of STAAR Surgical in a research report on Thursday, April 4th. Mizuho raised their price objective on shares of STAAR Surgical from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Wednesday. William Blair upgraded shares of STAAR Surgical from a "market perform" rating to an "outperform" rating in a research note on Thursday, April 4th. Finally, Stifel Nicolaus restated a "buy" rating and issued a $50.00 price target on shares of STAAR Surgical in a research report on Monday, April 1st. 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.com, the stock currently has a consensus rating of "Hold" and an average price target of $47.13.

STAAR Surgical Price Performance

STAA traded down $5.63 on Wednesday, hitting $41.02. The company had a trading volume of 1,397,232 shares, compared to its average volume of 733,341. STAAR Surgical has a 1-year low of $26.66 and a 1-year high of $68.27. The company's fifty day moving average price is $41.94 and its 200 day moving average price is $35.84. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 95.40 and a beta of 0.80.

STAAR Surgical (NASDAQ:STAA - Get Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The medical instruments supplier reported ($0.07) earnings per share 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 firm had revenue of $77.40 million during the quarter, compared to analyst estimates of $75.34 million. During the same quarter in the previous year, the firm posted $0.05 earnings per share. STAAR Surgical's quarterly revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts forecast that STAAR Surgical will post 0.03 EPS for the current year.

Insider Buying and Selling at STAAR Surgical

In related news, Director Aimee S. Weisner bought 1,750 shares of the company's stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $38.11 per share, with a total value of $66,692.50. Following the acquisition, the director now owns 10,864 shares in the company, valued at approximately $414,027.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On STAAR Surgical

Large investors have recently made changes to their positions in the company. New York State Teachers Retirement System grew its stake in STAAR Surgical by 3.5% during the third quarter. New York State Teachers Retirement System now owns 58,340 shares of the medical instruments supplier's stock worth $2,344,000 after buying an additional 1,979 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in STAAR Surgical by 17.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,639 shares of the medical instruments supplier's stock valued at $347,000 after purchasing an additional 1,259 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in STAAR Surgical by 2.8% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 14,400 shares of the medical instruments supplier's stock valued at $579,000 after purchasing an additional 391 shares during the last quarter. Perigon Wealth Management LLC acquired a new position in STAAR Surgical in the third quarter worth $265,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of STAAR Surgical by 415.8% during the third quarter. Nisa Investment Advisors LLC now owns 2,445 shares of the medical instruments supplier's stock worth $98,000 after purchasing an additional 1,971 shares during the last quarter. Institutional investors own 96.70% of the company's stock.

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.