Shares of Staar Surgical Co. (NASDAQ:STAA) have been assigned an average broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company.
Brokerages have set a 12 month consensus price objective of $6.00 for the company, according to Zacks. Zacks has also given Staar Surgical an industry rank of 190 out of 265 based on the ratings given to related companies.
Several equities research analysts have recently issued reports on STAA shares. William Blair reissued a “market perform” rating on shares of Staar Surgical in a research report on Thursday, August 4th. Zacks Investment Research raised shares of Staar Surgical from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research report on Saturday, August 6th. Finally, Benchmark Co. set a $10.00 target price on shares of Staar Surgical and gave the company a “buy” rating in a research note on Sunday, November 6th.
Several hedge funds and other institutional investors have recently made changes to their positions in STAA. Palo Alto Investors LLC increased its position in Staar Surgical by 21.4% in the second quarter. Palo Alto Investors LLC now owns 3,207,210 shares of the company’s stock worth $17,672,000 after buying an additional 565,335 shares during the period. Broadwood Capital Inc. increased its position in Staar Surgical by 4.2% in the second quarter. Broadwood Capital Inc. now owns 10,855,179 shares of the company’s stock worth $59,812,000 after buying an additional 437,509 shares during the period. Tiverton Asset Management LLC increased its position in Staar Surgical by 67.7% in the third quarter. Tiverton Asset Management LLC now owns 331,393 shares of the company’s stock worth $3,115,000 after buying an additional 133,746 shares during the period. BlackRock Fund Advisors increased its position in Staar Surgical by 6.6% in the third quarter. BlackRock Fund Advisors now owns 1,104,666 shares of the company’s stock worth $10,384,000 after buying an additional 68,780 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new position in Staar Surgical during the third quarter worth approximately $275,000. Institutional investors and hedge funds own 73.68% of the company’s stock.
Staar Surgical (NASDAQ:STAA) traded down 0.91% on Friday, reaching $10.85. 11,708 shares of the company’s stock were exchanged. The firm’s market capitalization is $440.61 million. Staar Surgical has a 1-year low of $4.98 and a 1-year high of $11.00. The stock’s 50 day moving average price is $9.56 and its 200 day moving average price is $7.79.
Staar Surgical (NASDAQ:STAA) last released its quarterly earnings data on Thursday, November 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. Staar Surgical had a negative net margin of 15.78% and a negative return on equity of 7.99%. The company earned $20.05 million during the quarter, compared to analyst estimates of $20.70 million. The business’s revenue was up 6.9% compared to the same quarter last year. On average, analysts expect that Staar Surgical will post ($0.31) earnings per share for the current year.
About Staar Surgical
STAAR Surgical Company designs, develops, manufactures and sells implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. The Company operates in the ophthalmic surgical market segment. Its principal products are intraocular lenses (IOLs) used in cataract surgery and implantable collamer lenses (ICLs) used in refractive surgery.