STAAR Surgical Company (NASDAQ:STAA) Receives Consensus Rating of "Hold" from Analysts

Key Points

• STAAR Surgical has a consensus analyst rating of "Hold" from 11 covering analysts, with an average 12-month target price of about $27.81. The group includes two sell ratings, six holds, and three buys.
• The company recently reported better-than-expected quarterly results, earning $0.10 per share versus $0.05 expected and generating $93.52 million in revenue versus $78.72 million expected. Revenue jumped 119.6% year over year.
• Despite the mixed ratings, STAA’s stock opened at $27.97 and the company remains financially liquid, with a current ratio of 5.12 and a debt-to-equity ratio of 0.09. Institutional investors also hold a large majority of shares, owning 96.7% of the stock.

STAAR Surgical Company (NASDAQ:STAA - Get Free Report) has earned a consensus recommendation of "Hold" from the eleven analysts that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $27.8125.

A number of brokerages have recently issued reports on STAA. Stifel Nicolaus raised their price target on shares of STAAR Surgical from $18.00 to $31.00 and gave the stock a "hold" rating in a report on Thursday, May 14th. Weiss Ratings upgraded STAAR Surgical from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, June 25th. Wells Fargo & Company increased their price objective on STAAR Surgical from $16.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Friday, May 15th. Canaccord Genuity Group raised their target price on STAAR Surgical from $27.00 to $32.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. Finally, Wedbush restated an "outperform" rating and issued a $40.00 target price on shares of STAAR Surgical in a research report on Friday, May 29th.

STAAR Surgical Trading Down 0.6%

Shares of STAA opened at $27.97 on Friday. The company has a current ratio of 5.12, a quick ratio of 4.31 and a debt-to-equity ratio of 0.09. STAAR Surgical has a 12-month low of $15.59 and a 12-month high of $35.87. The firm has a 50-day moving average price of $29.31 and a 200 day moving average price of $23.65. The firm has a market capitalization of $1.39 billion, a P/E ratio of -65.04 and a beta of 1.23.

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

Institutional Trading of STAAR Surgical

A number of hedge funds and other institutional investors have recently modified their holdings of STAA. Balyasny Asset Management L.P. acquired a new position in STAAR Surgical in the third quarter valued at about $48,729,000. Broadwood Capital Inc. increased its position in shares of STAAR Surgical by 11.1% during the fourth quarter. Broadwood Capital Inc. now owns 15,019,491 shares of the medical instruments supplier's stock valued at $346,800,000 after acquiring an additional 1,500,000 shares during the last quarter. Magnetar Financial LLC raised its stake in shares of STAAR Surgical by 105.3% in the 4th quarter. Magnetar Financial LLC now owns 2,472,390 shares of the medical instruments supplier's stock valued at $57,087,000 after acquiring an additional 1,268,019 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of STAAR Surgical by 112.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,076,743 shares of the medical instruments supplier's stock valued at $47,952,000 after acquiring an additional 1,100,484 shares during the period. Finally, Defender Capital LLC. purchased a new stake in shares of STAAR Surgical in the 4th quarter valued at approximately $15,429,000. 96.70% of the stock is owned by institutional investors and hedge funds.

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. 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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