STAAR Surgical (STAA) Upgraded to Buy by BidaskClub

STAAR Surgical (NASDAQ:STAA) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Other analysts have also issued reports about the stock. Canaccord Genuity increased their target price on shares of STAAR Surgical from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, May 3rd. TheStreet upgraded shares of STAAR Surgical from a “c” rating to a “b-” rating in a report on Monday. Stephens upgraded shares of STAAR Surgical from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $13.00 to $21.00 in a report on Thursday, May 3rd. Zacks Investment Research lowered shares of STAAR Surgical from a “hold” rating to a “sell” rating in a report on Thursday, April 12th. Finally, ValuEngine upgraded shares of STAAR Surgical from a “hold” rating to a “buy” rating in a report on Saturday, May 12th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $19.25.

STAAR Surgical opened at $26.15 on Friday, Marketbeat Ratings reports. The company has a quick ratio of 1.90, a current ratio of 2.43 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.00 billion, a PE ratio of 2,615.00 and a beta of 1.21. STAAR Surgical has a 1-year low of $24.20 and a 1-year high of $24.40.

STAAR Surgical (NASDAQ:STAA) last posted its earnings results on Wednesday, May 2nd. The medical instruments supplier reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.08. The company had revenue of $27.09 million during the quarter, compared to analyst estimates of $23.00 million. STAAR Surgical had a net margin of 0.66% and a return on equity of 6.80%. During the same period in the prior year, the business posted ($0.05) earnings per share. sell-side analysts predict that STAAR Surgical will post 0.03 earnings per share for the current year.

In other STAAR Surgical news, CTO Keith Holliday sold 2,188 shares of the firm’s stock in a transaction dated Thursday, March 22nd. The shares were sold at an average price of $16.03, for a total value of $35,073.64. Following the completion of the sale, the chief technology officer now directly owns 43,781 shares in the company, valued at $701,809.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Samuel J. Gesten sold 2,833 shares of the firm’s stock in a transaction dated Thursday, March 22nd. The stock was sold at an average price of $16.05, for a total transaction of $45,469.65. Following the completion of the sale, the insider now owns 38,316 shares of the company’s stock, valued at $614,971.80. The disclosure for this sale can be found here. Insiders sold 26,810 shares of company stock valued at $451,186 over the last 90 days. 3.90% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. California Public Employees Retirement System lifted its holdings in STAAR Surgical by 8.7% in the third quarter. California Public Employees Retirement System now owns 48,711 shares of the medical instruments supplier’s stock worth $606,000 after buying an additional 3,911 shares during the period. Alliancebernstein L.P. lifted its holdings in STAAR Surgical by 9.4% in the fourth quarter. Alliancebernstein L.P. now owns 59,400 shares of the medical instruments supplier’s stock worth $921,000 after buying an additional 5,100 shares during the period. GSA Capital Partners LLP lifted its holdings in STAAR Surgical by 28.1% in the first quarter. GSA Capital Partners LLP now owns 29,480 shares of the medical instruments supplier’s stock worth $436,000 after buying an additional 6,459 shares during the period. Wells Fargo & Company MN lifted its holdings in STAAR Surgical by 12.6% in the fourth quarter. Wells Fargo & Company MN now owns 73,281 shares of the medical instruments supplier’s stock worth $1,136,000 after buying an additional 8,226 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in STAAR Surgical by 28.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 43,882 shares of the medical instruments supplier’s stock worth $680,000 after buying an additional 9,653 shares during the period. Institutional investors and hedge funds own 78.58% of the company’s stock.

About STAAR Surgical

STAAR Surgical Company, together with its subsidiaries, designs, develops, manufactures, markets, and sells implantable lenses for the eye, and delivery systems to deliver the lenses into the eye. The company provides Visian implantable collamer lenses (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness.

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