STAAR Surgical (NASDAQ:STAA) Price Target Cut to $43.00

STAAR Surgical (NASDAQ:STAA) had its price target dropped by stock analysts at Canaccord Genuity Group from $46.00 to $43.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the medical instruments supplier’s stock. Canaccord Genuity Group’s price target indicates a potential upside of 3.22% from the stock’s previous close.

Other analysts also recently issued reports about the company. Stifel Nicolaus restated a “buy” rating and issued a $50.00 price objective on shares of STAAR Surgical in a report on Monday, April 1st. Mizuho boosted their price target on shares of STAAR Surgical from $53.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research note on Thursday, April 4th. William Blair raised shares of STAAR Surgical from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 4th. Finally, Piper Sandler upped their target price on STAAR Surgical from $33.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, STAAR Surgical presently has a consensus rating of “Hold” and a consensus target price of $47.13.

STAAR Surgical Trading Down 10.7 %

Shares of STAAR Surgical stock traded down $4.99 on Wednesday, hitting $41.66. 877,893 shares of the company traded hands, compared to its average volume of 727,103. The company has a market cap of $2.05 billion, a PE ratio of 92.95 and a beta of 0.80. The stock’s 50 day moving average price is $41.94 and its 200-day moving average price is $35.84. STAAR Surgical has a 52 week low of $26.66 and a 52 week high of $68.27.

STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings data on Tuesday, May 7th. The medical instruments supplier reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.12). STAAR Surgical had a return on equity of 8.73% and a net margin of 6.62%. The firm had revenue of $77.40 million for the quarter, compared to analysts’ expectations of $75.34 million. During the same quarter in the previous year, the business earned $0.05 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, research analysts anticipate that STAAR Surgical will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling at STAAR Surgical

In related news, Director Aimee S. Weisner acquired 1,750 shares of the stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $38.11 per share, for a total transaction of $66,692.50. Following the completion of the purchase, the director now owns 10,864 shares of the company’s stock, valued at approximately $414,027.04. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of STAA. Oregon Public Employees Retirement Fund increased its holdings in STAAR Surgical by 2.8% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 14,400 shares of the medical instruments supplier’s stock worth $579,000 after buying an additional 391 shares during the period. Texas Permanent School Fund Corp increased its stake in shares of STAAR Surgical by 1.0% in the first quarter. Texas Permanent School Fund Corp now owns 42,577 shares of the medical instruments supplier’s stock worth $1,630,000 after acquiring an additional 407 shares during the period. New York State Common Retirement Fund increased its stake in shares of STAAR Surgical by 1.1% in the third quarter. New York State Common Retirement Fund now owns 44,893 shares of the medical instruments supplier’s stock worth $1,804,000 after acquiring an additional 480 shares during the period. Hsbc Holdings PLC raised its holdings in shares of STAAR Surgical by 6.0% during the third quarter. Hsbc Holdings PLC now owns 8,540 shares of the medical instruments supplier’s stock worth $347,000 after purchasing an additional 483 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in STAAR Surgical by 1.5% during the first quarter. Russell Investments Group Ltd. now owns 36,931 shares of the medical instruments supplier’s stock valued at $1,406,000 after purchasing an additional 555 shares during the period. 96.70% of the stock is currently owned by hedge funds and other institutional investors.

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.