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STAAR Surgical (NASDAQ:STAA) Upgraded at Wall Street Zen

STAAR Surgical logo with Medical background
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Key Points

  • Wall Street Zen upgraded STAAR Surgical from “hold” to “buy,” adding to a wave of more positive analyst commentary around the stock. Other firms recently lifted price targets, including Wedbush, Canaccord Genuity, Stifel Nicolaus, and Piper Sandler.
  • STAAR Surgical beat quarterly expectations with earnings of $0.10 per share versus $0.05 expected and revenue of $93.52 million versus $78.72 million expected. Revenue surged 119.6% year over year, and the company swung from a loss to a profit on a quarterly basis.
  • Insider and institutional activity has been strong, with Director Broadwood Partners buying 316,017 shares and insiders purchasing a total of 670,213 shares over the last 90 days. Institutional investors and hedge funds now own 96.70% of the company’s stock.
  • Five stocks we like better than STAAR Surgical.

STAAR Surgical (NASDAQ:STAA - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus boosted their price objective on shares of STAAR Surgical from $18.00 to $31.00 and gave the stock a "hold" rating in a report on Thursday. Canaccord Genuity Group boosted their price objective on shares of STAAR Surgical from $27.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday. Morgan Stanley started coverage on shares of STAAR Surgical in a report on Friday, January 16th. They set an "underweight" rating and a $13.00 price objective on the stock. Piper Sandler boosted their price objective on shares of STAAR Surgical from $16.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Wedbush raised shares of STAAR Surgical from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $26.00 to $40.00 in a report on Thursday. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $27.81.

Check Out Our Latest Research Report on STAAR Surgical

STAAR Surgical Stock Up 0.2%

Shares of NASDAQ STAA opened at $32.07 on Friday. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -74.58 and a beta of 1.20. STAAR Surgical has a 52 week low of $15.59 and a 52 week high of $35.87. The firm has a 50-day moving average price of $22.74 and a 200 day moving average price of $22.65. The company has a quick ratio of 3.74, a current ratio of 5.12 and a debt-to-equity ratio of 0.09.

STAAR Surgical (NASDAQ:STAA - Get Free Report) last released 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 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%. The firm's revenue was up 119.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.10) earnings per share. Equities research analysts anticipate that STAAR Surgical will post -0.03 EPS for the current fiscal year.

Insider Transactions at STAAR Surgical

In other STAAR Surgical news, Director Broadwood Partners, L.P. bought 316,017 shares of the business's stock in a transaction on Friday, March 13th. The stock was bought at an average price 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 approximately $300,064,699.62. The trade was a 2.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 670,213 shares of company stock worth $12,266,249 in the last ninety days. Insiders own 39.90% of the company's stock.

Hedge Funds Weigh In On STAAR Surgical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STAA. Caitong International Asset Management Co. Ltd raised its position in STAAR Surgical by 2,605.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier's stock worth $28,000 after acquiring an additional 1,016 shares during the last quarter. Ascentis Independent Advisors acquired a new position in shares of STAAR Surgical in the first quarter valued at approximately $77,000. Tower Research Capital LLC TRC raised its position in shares of STAAR Surgical by 375.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier's stock valued at $99,000 after buying an additional 4,673 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of STAAR Surgical by 9,928.9% in the third quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier's stock valued at $121,000 after buying an additional 4,468 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in shares of STAAR Surgical in the third quarter valued at approximately $199,000. Institutional investors and hedge funds own 96.70% of the company's stock.

More STAAR Surgical News

Here are the key news stories impacting STAAR Surgical this week:

About STAAR Surgical

(Get Free Report)

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.

See Also

Analyst Recommendations for STAAR Surgical (NASDAQ:STAA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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