STAAR Surgical (NASDAQ:STAA) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded STAAR Surgical from “buy” to “hold,” while the broader analyst consensus is also “hold,” with an average price target of $26.94.
• STAAR Surgical reported quarterly EPS of $0.10 versus the $0.05 consensus estimate, while revenue reached $93.52 million, up 119.6% year over year and above expectations.
• The stock opened at $24.36, and institutional investors and hedge funds own 96.70% of the outstanding shares; recent analyst targets range from $20 to $40.

STAAR Surgical (NASDAQ:STAA - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Several other equities research analysts have also recently commented on STAA. Wells Fargo & Company lifted their price target on shares of STAAR Surgical from $16.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Friday, May 15th. Piper Sandler increased their price objective on shares of STAAR Surgical from $16.00 to $33.00 and gave the company a "neutral" rating in a report on Thursday, May 14th. Mizuho raised their price objective on shares of STAAR Surgical from $22.00 to $27.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Wedbush reaffirmed an "outperform" rating and set a $40.00 target price on shares of STAAR Surgical in a report on Wednesday, July 22nd. Finally, UBS Group initiated coverage on shares of STAAR Surgical in a report on Tuesday. They set a "sell" rating and a $20.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $26.94.

STAAR Surgical Trading Up 0.6%

STAA stock opened at $24.36 on Friday. The company has a quick ratio of 4.31, a current ratio of 5.12 and a debt-to-equity ratio of 0.09. STAAR Surgical has a twelve month low of $15.59 and a twelve month high of $35.87. The company has a market cap of $1.21 billion, a P/E ratio of -56.65 and a beta of 1.23. The business has a fifty day moving average of $27.94 and a 200-day moving average of $23.88.

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

Institutional Trading of STAAR Surgical

A number of hedge funds have recently modified their holdings of the company. Broadwood Capital Inc. grew its holdings in 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 purchasing an additional 1,500,000 shares during the period. Soleus Capital Management L.P. raised its holdings in STAAR Surgical by 16.5% in the second quarter. Soleus Capital Management L.P. now owns 2,984,733 shares of the medical instruments supplier's stock worth $50,084,000 after purchasing an additional 421,840 shares during the period. Yunqi Capital Ltd raised its holdings in STAAR Surgical by 0.3% in the fourth quarter. Yunqi Capital Ltd now owns 2,507,130 shares of the medical instruments supplier's stock worth $57,890,000 after purchasing an additional 7,069 shares during the period. Magnetar Financial LLC boosted its position in shares of STAAR Surgical by 105.3% during the fourth quarter. Magnetar Financial LLC now owns 2,472,390 shares of the medical instruments supplier's stock worth $57,087,000 after purchasing an additional 1,268,019 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of STAAR Surgical by 112.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,076,743 shares of the medical instruments supplier's stock worth $47,952,000 after purchasing an additional 1,100,484 shares in the last quarter. 96.70% of the stock is currently 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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