STAAR Surgical (STAA) Raised to “Hold” at BidaskClub

BidaskClub upgraded shares of STAAR Surgical (NASDAQ:STAA) from a sell rating to a hold rating in a research report released on Wednesday morning.

A number of other equities analysts also recently issued reports on STAA. Zacks Investment Research raised STAAR Surgical from a hold rating to a strong-buy rating and set a $51.00 price target for the company in a report on Thursday, November 8th. ValuEngine downgraded STAAR Surgical from a strong-buy rating to a buy rating in a report on Friday, December 21st. TheStreet downgraded STAAR Surgical from a b- rating to a c rating in a report on Friday, December 14th. Benchmark reaffirmed a buy rating and issued a $54.00 price target (up from $45.00) on shares of STAAR Surgical in a report on Monday, September 24th. Finally, Canaccord Genuity upped their price target on STAAR Surgical from $43.00 to $55.00 and gave the company a buy rating in a report on Friday, September 14th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. STAAR Surgical has a consensus rating of Buy and an average target price of $45.25.

Shares of STAAR Surgical stock opened at $31.72 on Wednesday. STAAR Surgical has a one year low of $13.60 and a one year high of $54.00. The stock has a market cap of $1.44 billion, a PE ratio of 3,172.00 and a beta of 1.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.35 and a quick ratio of 4.76.

STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings data on Wednesday, October 31st. The medical instruments supplier reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.06. STAAR Surgical had a return on equity of 14.80% and a net margin of 3.17%. The business had revenue of $31.77 million during the quarter, compared to the consensus estimate of $30.10 million. During the same period in the previous year, the company posted $0.03 earnings per share. On average, sell-side analysts predict that STAAR Surgical will post 0.09 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Winslow Evans & Crocker Inc. purchased a new stake in STAAR Surgical in the third quarter valued at approximately $142,000. Harvest Fund Management Co. Ltd purchased a new stake in STAAR Surgical in the third quarter valued at approximately $222,000. United Services Automobile Association purchased a new stake in STAAR Surgical in the third quarter valued at approximately $278,000. Xact Kapitalforvaltning AB purchased a new stake in STAAR Surgical in the third quarter valued at approximately $278,000. Finally, Advisors Asset Management Inc. purchased a new stake in STAAR Surgical in the third quarter valued at approximately $302,000. 85.80% of the stock is owned by hedge funds and other institutional investors.

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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