STAAR Surgical (NASDAQ:STAA) Given Consensus Rating of “Buy” by Brokerages

STAAR Surgical (NASDAQ:STAAGet Rating) has been assigned an average rating of “Buy” from the nine research firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $95.14.

Several equities analysts recently commented on STAA shares. Benchmark upgraded shares of STAAR Surgical from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a research note on Monday, March 28th. Canaccord Genuity Group upped their target price on shares of STAAR Surgical from $81.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, April 26th. StockNews.com started coverage on shares of STAAR Surgical in a research note on Thursday, March 31st. They set a “hold” rating for the company. Canaccord Genuity Group upped their target price on shares of STAAR Surgical from $81.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, April 26th. Finally, Zacks Investment Research upgraded shares of STAAR Surgical from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Friday.

In other news, VP James E. Francese sold 922 shares of the stock in a transaction on Monday, March 21st. The shares were sold at an average price of $74.62, for a total value of $68,799.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its position in shares of STAAR Surgical by 127.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 37,041 shares of the medical instruments supplier’s stock worth $3,382,000 after purchasing an additional 20,787 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of STAAR Surgical during the 4th quarter worth about $2,460,000. Aegon Asset Management UK PLC increased its position in shares of STAAR Surgical by 19.0% during the 4th quarter. Aegon Asset Management UK PLC now owns 239,643 shares of the medical instruments supplier’s stock worth $21,870,000 after purchasing an additional 38,289 shares in the last quarter. AXA S.A. increased its position in shares of STAAR Surgical by 66.5% during the 3rd quarter. AXA S.A. now owns 86,900 shares of the medical instruments supplier’s stock worth $11,169,000 after purchasing an additional 34,700 shares in the last quarter. Finally, Jennison Associates LLC acquired a new stake in shares of STAAR Surgical during the 3rd quarter worth about $1,293,000. Institutional investors own 89.93% of the company’s stock.

Shares of NASDAQ STAA traded up $3.99 during trading hours on Friday, hitting $58.18. 601,021 shares of the stock were exchanged, compared to its average volume of 645,256. The company’s 50 day moving average is $66.72 and its 200 day moving average is $81.05. The firm has a market capitalization of $2.78 billion, a P/E ratio of 100.31 and a beta of 1.18. STAAR Surgical has a one year low of $49.03 and a one year high of $163.08.

STAAR Surgical (NASDAQ:STAAGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The medical instruments supplier reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.11. The business had revenue of $63.20 million during the quarter, compared to the consensus estimate of $60.53 million. STAAR Surgical had a net margin of 11.98% and a return on equity of 12.78%. STAAR Surgical’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 EPS. On average, analysts anticipate that STAAR Surgical will post 0.61 EPS for the current year.

About STAAR Surgical (Get Rating)

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 Visian implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness.

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Analyst Recommendations for STAAR Surgical (NASDAQ:STAA)

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