STAAR Surgical (NASDAQ:STAA) Given New $27.00 Price Target at Mizuho

Key Points

• Mizuho raised its price target on STAAR Surgical from $22 to $27 while keeping a neutral rating, implying about 8% downside from the prior close.
• Analyst views remain mixed: recent ratings changes include upgrades from Canaccord Genuity and cuts from Jefferies, Wells Fargo, and Stifel, with the stock holding a consensus “Hold” rating and an average target of $26.06.
• STAAR Surgical’s latest quarter beat expectations, with EPS of $0.10 versus $0.03 expected and revenue of $93.52 million, up 119.6% year over year.

STAAR Surgical (NASDAQ:STAA - Get Free Report) had its price objective upped by Mizuho from $22.00 to $27.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the medical instruments supplier's stock. Mizuho's price target indicates a potential downside of 8.16% from the company's previous close.

Other analysts also recently issued reports about the stock. Jefferies Financial Group reduced their target price on shares of STAAR Surgical from $28.00 to $21.50 and set a "buy" rating on the stock in a report on Wednesday, January 28th. Canaccord Genuity Group raised shares of STAAR Surgical from a "hold" rating to a "buy" rating and increased their price target for the company from $22.00 to $27.00 in a report on Thursday, April 9th. Wells Fargo & Company reduced their price objective on STAAR Surgical from $30.75 to $16.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 5th. Weiss Ratings downgraded STAAR Surgical from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, April 22nd. Finally, Stifel Nicolaus decreased their price objective on STAAR Surgical from $19.00 to $18.00 and set a "hold" rating on the stock in a research report on Wednesday, March 4th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, STAAR Surgical currently has a consensus rating of "Hold" and an average price target of $26.06.

STAAR Surgical Stock Performance

STAA stock opened at $29.40 on Thursday. The firm has a fifty day moving average price of $22.22 and a 200 day moving average price of $22.54. STAAR Surgical has a fifty-two week low of $15.59 and a fifty-two week high of $30.81. The firm has a market cap of $1.46 billion, a PE ratio of -18.04 and a beta of 1.20.

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 for the quarter, topping the consensus estimate of $0.03 by $0.07. STAAR Surgical had a negative net margin of 33.60% and a negative return on equity of 10.03%. The company had revenue of $93.52 million for the quarter, compared to analysts' expectations of $78.72 million. During the same quarter in the previous year, the business posted ($1.10) earnings per share. STAAR Surgical's quarterly revenue was up 119.6% on a year-over-year basis. On average, equities analysts predict that STAAR Surgical will post -0.03 EPS for the current year.

Insiders Place Their Bets

In other STAAR Surgical news, Director Broadwood Partners, L.P. bought 316,017 shares of the firm's stock in a transaction dated Friday, March 13th. The stock was acquired at an average cost of $18.61 per share, for a total transaction of $5,881,076.37. Following the completion of the transaction, the director owned 16,123,842 shares in the company, valued at $300,064,699.62. This trade represents a 2.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired a total of 670,213 shares of company stock valued at $12,266,249 in the last 90 days. Company insiders own 39.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in STAA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in STAAR Surgical by 4.5% during 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 buying an additional 1,267 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in STAAR Surgical by 33.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 544,843 shares of the medical instruments supplier's stock worth $9,606,000 after acquiring an additional 136,390 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of STAAR Surgical by 11.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,347 shares of the medical instruments supplier's stock worth $2,175,000 after acquiring an additional 12,841 shares during the period. Creative Planning increased its position in shares of STAAR Surgical by 19.9% during the second quarter. Creative Planning now owns 15,695 shares of the medical instruments supplier's stock worth $263,000 after acquiring an additional 2,606 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of STAAR Surgical by 183.2% during the second quarter. JPMorgan Chase & Co. now owns 153,371 shares of the medical instruments supplier's stock valued at $2,574,000 after acquiring an additional 99,218 shares in the last quarter. 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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