STAAR Surgical Company (NASDAQ:STAA) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Analysts hold a mixed view of STAAR Surgical: three rate it a sell, six recommend holding, and three recommend buying. The average 12-month price target is $26.94.
• Institutional investors own 96.7% of the company, with several firms increasing their positions during the first quarter, including Renaissance Technologies, which raised its stake by 257.7%.
• STAAR Surgical reported quarterly EPS of $0.10 versus the $0.05 consensus estimate, while revenue rose 119.6% year over year to $93.52 million. The stock opened at $24.34, within a 52-week range of $15.59 to $35.87.

STAAR Surgical Company (NASDAQ:STAA - Get Free Report) has been given a consensus recommendation of "Hold" by the twelve ratings firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $26.9444.

A number of equities research analysts have commented on the stock. Weiss Ratings raised shares of STAAR Surgical from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, June 25th. Wall Street Zen lowered STAAR Surgical from a "buy" rating to a "hold" rating in a report on Saturday. Wells Fargo & Company increased their target price on STAAR Surgical from $16.00 to $25.00 and gave the company an "equal weight" rating in a report on Friday, May 15th. Wedbush restated an "outperform" rating and set a $40.00 price target on shares of STAAR Surgical in a research note on Wednesday, July 22nd. Finally, Mizuho upped their price target on shares of STAAR Surgical from $22.00 to $27.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th.

Institutional Trading of STAAR Surgical

Several large investors have recently added to or reduced their stakes in the business. Amundi purchased a new stake in STAAR Surgical during the first quarter valued at approximately $305,000. American Capital Management Inc. boosted its stake in shares of STAAR Surgical by 18.7% during the 1st quarter. American Capital Management Inc. now owns 878,035 shares of the medical instruments supplier's stock worth $16,419,000 after acquiring an additional 138,499 shares during the last quarter. Quantinno Capital Management LP bought a new stake in shares of STAAR Surgical during the 1st quarter valued at $1,109,000. Renaissance Technologies LLC grew its position in shares of STAAR Surgical by 257.7% during the 1st quarter. Renaissance Technologies LLC now owns 135,200 shares of the medical instruments supplier's stock valued at $2,528,000 after acquiring an additional 97,400 shares during the period. Finally, Gamco Investors INC. ET AL grew its position in shares of STAAR Surgical by 33.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 20,000 shares of the medical instruments supplier's stock valued at $374,000 after acquiring an additional 5,000 shares during the period. 96.70% of the stock is currently owned by institutional investors.

STAAR Surgical Price Performance

STAA opened at $24.34 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.31 and a current ratio of 5.12. The stock has a market capitalization of $1.21 billion, a P/E ratio of -56.60 and a beta of 1.26. The company's 50-day simple moving average is $27.78 and its two-hundred day simple moving average is $23.92. STAAR Surgical has a 52-week low of $15.59 and a 52-week high of $35.87.

STAAR Surgical (NASDAQ:STAA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.05. STAAR Surgical had a negative net margin of 7.24% and a positive return on equity of 3.31%. The firm had revenue of $93.52 million for the quarter, compared to the consensus estimate of $78.72 million. During the same quarter last year, the firm posted ($1.10) EPS. The business's quarterly revenue was up 119.6% compared to the same quarter last year. As a group, analysts predict that STAAR Surgical will post 0.13 EPS for the current year.

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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