STAAR Surgical (NASDAQ:STAA – Get Rating) had its price target raised by BTIG Research from $98.00 to $103.00 in a report published on Thursday, The Fly reports.
STAA has been the topic of a number of other research reports. Canaccord Genuity Group upped their target price on STAAR Surgical from $81.00 to $89.00 and gave the company a buy rating in a report on Tuesday, April 26th. Needham & Company LLC increased their price objective on STAAR Surgical from $87.00 to $110.00 and gave the stock a buy rating in a report on Thursday. Canaccord Genuity Group increased their price objective on STAAR Surgical from $81.00 to $89.00 and gave the stock a buy rating in a report on Tuesday, April 26th. Finally, Benchmark increased their price objective on STAAR Surgical from $97.00 to $117.00 and gave the stock a buy rating in a report on Thursday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $106.83.
Get STAAR Surgical alerts:STAAR Surgical Trading Up 9.4 %
Shares of NASDAQ STAA opened at $111.58 on Thursday. STAAR Surgical has a twelve month low of $49.03 and a twelve month high of $163.08. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of 166.54 and a beta of 1.09. The firm has a 50-day moving average of $75.73 and a two-hundred day moving average of $70.75.
STAAR Surgical (NASDAQ:STAA – Get Rating) last issued its quarterly earnings results on Wednesday, August 10th. The medical instruments supplier reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. STAAR Surgical had a net margin of 12.84% and a return on equity of 13.99%. The company had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.12 million. During the same period in the prior year, the company earned $0.19 EPS. STAAR Surgical's revenue was up 30.0% on a year-over-year basis. As a group, research analysts predict that STAAR Surgical will post 0.65 earnings per share for the current year.Insiders Place Their Bets
In other news, CEO Caren L. Mason sold 35,000 shares of the stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $57.49, for a total value of $2,012,150.00. Following the completion of the sale, the chief executive officer now directly owns 83,645 shares of the company's stock, valued at $4,808,751.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.60% of the company's stock.
Institutional Investors Weigh In On STAAR Surgical
Several hedge funds have recently modified their holdings of STAA. Janney Montgomery Scott LLC bought a new stake in shares of STAAR Surgical in the fourth quarter valued at approximately $259,000. Allspring Global Investments Holdings LLC bought a new stake in shares of STAAR Surgical in the fourth quarter valued at approximately $2,460,000. State of New Jersey Common Pension Fund D boosted its position in shares of STAAR Surgical by 13.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 25,526 shares of the medical instruments supplier's stock valued at $2,331,000 after acquiring an additional 2,963 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of STAAR Surgical by 37.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,018 shares of the medical instruments supplier's stock valued at $458,000 after purchasing an additional 1,370 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of STAAR Surgical by 2.8% in the fourth quarter. Pacer Advisors Inc. now owns 7,068 shares of the medical instruments supplier's stock valued at $645,000 after purchasing an additional 191 shares in the last quarter. 89.93% of the stock is owned by institutional investors.
About STAAR Surgical
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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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