STAAR Surgical (NASDAQ:STAA) Coverage Initiated by Analysts at UBS Group

Key Points

• UBS Group initiated coverage of STAAR Surgical with a “sell” rating and a $20 price target, implying approximately 12.85% downside from the stock’s prior close.
• Analyst opinions remain mixed: three analysts rate the stock a buy, six a hold, and three a sell, producing an overall “hold” consensus and an average price target of $26.94.
• STAAR Surgical reported stronger-than-expected quarterly results, with EPS of $0.10 versus a $0.05 consensus estimate and revenue of $93.52 million, up 119.6% year over year. Institutional investors own 96.7% of the company’s shares.

UBS Group assumed coverage on shares of STAAR Surgical (NASDAQ:STAA - Get Free Report) in a research report issued to clients and investors on Tuesday. The firm set a "sell" rating and a $20.00 price target on the medical instruments supplier's stock. UBS Group's price target suggests a potential downside of 12.85% from the company's previous close.

Several other analysts also recently weighed in on STAA. Wedbush reiterated an "outperform" rating and set a $40.00 target price on shares of STAAR Surgical in a research report on Wednesday, July 22nd. Stifel Nicolaus raised their target price on shares of STAAR Surgical from $18.00 to $31.00 and gave the stock a "hold" rating in a research report on Thursday, May 14th. Wells Fargo & Company boosted their price target on STAAR Surgical from $16.00 to $25.00 and gave the company an "equal weight" rating in a report on Friday, May 15th. Canaccord Genuity Group lifted their target price on STAAR Surgical from $27.00 to $32.00 and gave the company a "buy" rating in a research report on Thursday, May 14th. Finally, Mizuho upped their target price on STAAR Surgical from $22.00 to $27.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $26.94.

STAAR Surgical Trading Down 1.8%

Shares of STAA stock opened at $22.95 on Tuesday. STAAR Surgical has a 1 year low of $15.59 and a 1 year high of $35.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.12 and a quick ratio of 4.31. The stock's 50 day simple moving average is $28.66 and its two-hundred day simple moving average is $23.85. The company has a market cap of $1.14 billion, a PE ratio of -53.37 and a beta of 1.23.

STAAR Surgical (NASDAQ:STAA - Get Free Report) last announced 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. STAAR Surgical had a positive return on equity of 3.31% and a negative net margin of 7.24%.The firm had revenue of $93.52 million during the quarter, compared to analysts' expectations of $78.72 million. During the same quarter in the previous year, the business earned ($1.10) EPS. The company's quarterly revenue was up 119.6% on a year-over-year basis. Research analysts predict that STAAR Surgical will post 0.13 earnings per share for the current year.

Institutional Trading of STAAR Surgical

Large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd increased its stake in STAAR Surgical by 58.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,669 shares of the medical instruments supplier's stock valued at $39,000 after purchasing an additional 614 shares in the last quarter. Invesco Ltd. grew its holdings in shares of STAAR Surgical by 0.6% during the third quarter. Invesco Ltd. now owns 150,896 shares of the medical instruments supplier's stock valued at $4,055,000 after buying an additional 956 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of STAAR Surgical by 2.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 52,535 shares of the medical instruments supplier's stock valued at $1,214,000 after buying an additional 1,234 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of STAAR Surgical by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,390 shares of the medical instruments supplier's stock valued at $518,000 after acquiring an additional 1,267 shares during the period. Finally, Deutsche Bank AG increased its position in shares of STAAR Surgical by 3.7% in the 4th quarter. Deutsche Bank AG now owns 38,586 shares of the medical instruments supplier's stock valued at $891,000 after acquiring an additional 1,382 shares during the period. Hedge funds and other institutional investors own 96.70% of the company's stock.

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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