STAAR Surgical (NASDAQ:STAA – Free Report) had its price objective lowered by Needham & Company LLC from $54.00 to $52.00 in a report published on Friday morning, MarketBeat.com reports. Needham & Company LLC currently has a buy rating on the medical instruments supplier’s stock.
Several other research analysts have also commented on the stock. William Blair lowered shares of STAAR Surgical from an outperform rating to a market perform rating in a report on Wednesday, June 7th. StockNews.com downgraded STAAR Surgical from a hold rating to a sell rating in a research note on Thursday. Mizuho restated a buy rating and issued a $65.00 target price on shares of STAAR Surgical in a research note on Wednesday. Stifel Nicolaus restated a hold rating and set a $45.00 price objective on shares of STAAR Surgical in a research report on Wednesday. Finally, Piper Sandler reduced their price objective on STAAR Surgical from $50.00 to $45.00 and set a neutral rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, STAAR Surgical has an average rating of Hold and a consensus target price of $59.00.
View Our Latest Stock Report on STAAR Surgical
STAAR Surgical Stock Performance
STAAR Surgical (NASDAQ:STAA – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The medical instruments supplier reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. The company had revenue of $92.31 million during the quarter, compared to analyst estimates of $93.04 million. STAAR Surgical had a return on equity of 8.37% and a net margin of 8.14%. On average, equities research analysts forecast that STAAR Surgical will post 0.52 EPS for the current fiscal year.
Insider Buying and Selling
In related news, major shareholder Broadwood Partners, L.P. purchased 60,874 shares of STAAR Surgical stock in a transaction dated Thursday, September 7th. The stock was bought at an average cost of $41.26 per share, with a total value of $2,511,661.24. Following the purchase, the insider now owns 8,973,044 shares in the company, valued at approximately $370,227,795.44. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other news, major shareholder Broadwood Partners, L.P. bought 60,874 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was purchased at an average cost of $41.26 per share, for a total transaction of $2,511,661.24. Following the completion of the transaction, the insider now directly owns 8,973,044 shares of the company’s stock, valued at approximately $370,227,795.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Aimee S. Weisner acquired 2,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was purchased at an average price of $48.72 per share, with a total value of $97,440.00. Following the acquisition, the director now owns 5,417 shares of the company’s stock, valued at $263,916.24. The disclosure for this purchase can be found here. Insiders purchased 83,018 shares of company stock valued at $3,452,531 over the last 90 days. 1.10% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On STAAR Surgical
A number of institutional investors and hedge funds have recently bought and sold shares of STAA. Raymond James & Associates lifted its stake in STAAR Surgical by 96.4% during the first quarter. Raymond James & Associates now owns 12,704 shares of the medical instruments supplier’s stock valued at $1,015,000 after purchasing an additional 6,234 shares during the last quarter. US Bancorp DE lifted its position in shares of STAAR Surgical by 23.5% during the 1st quarter. US Bancorp DE now owns 2,735 shares of the medical instruments supplier’s stock valued at $219,000 after acquiring an additional 520 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of STAAR Surgical by 18.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,287 shares of the medical instruments supplier’s stock valued at $102,000 after acquiring an additional 202 shares during the last quarter. Rhumbline Advisers lifted its stake in STAAR Surgical by 2.2% during the first quarter. Rhumbline Advisers now owns 139,573 shares of the medical instruments supplier’s stock valued at $11,153,000 after buying an additional 3,005 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of STAAR Surgical by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,445 shares of the medical instruments supplier’s stock valued at $1,394,000 after acquiring an additional 1,663 shares in the last quarter. 96.70% of the stock is 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 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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