STAAR Surgical's (STAA) "Outperform" Rating Reaffirmed at Wedbush

Key Points

• Wedbush reaffirmed its “outperform” rating on STAAR Surgical and kept a $40 price target, which implies about 64.8% upside from the stock’s current price.
• Recent analyst opinions are mixed, but the overall consensus remains Hold. MarketBeat data shows three Buy ratings, six Hold ratings, and two Sell ratings, with a consensus price target of $27.81.
• STAAR Surgical reported a strong quarter, with EPS of $0.10 beating estimates and revenue of $93.52 million, up 119.6% year over year. The company also has a solid balance sheet, including a 4.31 quick ratio and 5.12 current ratio.

STAAR Surgical (NASDAQ:STAA - Get Free Report)'s stock had its "outperform" rating reaffirmed by stock analysts at Wedbush in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $40.00 price objective on the medical instruments supplier's stock. Wedbush's target price indicates a potential upside of 64.81% from the stock's current price.

A number of other analysts have also recently issued reports on the company. Stifel Nicolaus lifted their price objective on STAAR Surgical from $18.00 to $31.00 and gave the company a "hold" rating in a research report on Thursday, May 14th. Wells Fargo & Company raised their price target on STAAR Surgical from $16.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Friday, May 15th. Wall Street Zen upgraded STAAR Surgical from a "hold" rating to a "buy" rating in a report on Sunday, July 5th. Mizuho increased their price objective on STAAR Surgical from $22.00 to $27.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. Finally, Weiss Ratings raised shares of STAAR Surgical from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, June 25th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, STAAR Surgical has an average rating of "Hold" and a consensus price target of $27.81.

STAAR Surgical Stock Performance

STAA stock opened at $24.27 on Wednesday. The firm has a 50 day simple moving average of $29.27 and a 200 day simple moving average of $23.83. STAAR Surgical has a 52 week low of $15.59 and a 52 week high of $35.87. The stock has a market cap of $1.21 billion, a P/E ratio of -56.44 and a beta of 1.23. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.31 and a current ratio of 5.12.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of STAA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of STAAR Surgical by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,390 shares of the medical instruments supplier's stock valued at $518,000 after purchasing an additional 1,267 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of STAAR Surgical by 33.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 544,843 shares of the medical instruments supplier's stock worth $9,606,000 after purchasing an additional 136,390 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in STAAR Surgical by 11.6% during the 1st 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 valued at $2,175,000 after purchasing an additional 12,841 shares during the period. Creative Planning grew its holdings in STAAR Surgical by 19.9% in the 2nd quarter. Creative Planning now owns 15,695 shares of the medical instruments supplier's stock valued at $263,000 after buying an additional 2,606 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in STAAR Surgical by 183.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 153,371 shares of the medical instruments supplier's stock valued at $2,574,000 after buying an additional 99,218 shares during the last quarter. Institutional investors and hedge funds 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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