STAAR Surgical (STAA) Stock Rating Lowered by ValuEngine

ValuEngine cut shares of STAAR Surgical (NASDAQ:STAA) from a buy rating to a hold rating in a research report sent to investors on Thursday, April 18th, ValuEngine reports.

A number of other equities analysts have also weighed in on the stock. BidaskClub lowered shares of STAAR Surgical from a hold rating to a sell rating in a research report on Tuesday, December 25th. Zacks Investment Research lowered shares of STAAR Surgical from a buy rating to a hold rating in a research report on Saturday, March 2nd. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $40.33.

Shares of STAA stock traded down $0.71 on Thursday, hitting $26.55. The stock had a trading volume of 504,456 shares, compared to its average volume of 649,745. The company has a market cap of $1.21 billion, a P/E ratio of 94.82 and a beta of 2.02. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.41 and a quick ratio of 4.83. STAAR Surgical has a 12-month low of $21.70 and a 12-month high of $54.00.

STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Wednesday, May 1st. The medical instruments supplier reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.06. The company had revenue of $32.58 million during the quarter, compared to the consensus estimate of $32.40 million. STAAR Surgical had a net margin of 4.44% and a return on equity of 13.22%. During the same quarter in the prior year, the company posted $0.01 earnings per share. As a group, research analysts expect that STAAR Surgical will post 0.3 earnings per share for the current fiscal year.

In related news, insider Samuel J. Gesten sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $36.20, for a total value of $54,300.00. Following the sale, the insider now directly owns 36,816 shares of the company’s stock, valued at $1,332,739.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Broadwood Partners, L.P. bought 100,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average cost of $22.23 per share, for a total transaction of $2,223,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders sold 17,730 shares of company stock worth $655,538. Insiders own 3.90% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of STAAR Surgical by 1.4% during the fourth quarter. BlackRock Inc. now owns 3,111,085 shares of the medical instruments supplier’s stock worth $99,276,000 after acquiring an additional 42,395 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of STAAR Surgical by 60.9% during the third quarter. Vanguard Group Inc. now owns 2,754,944 shares of the medical instruments supplier’s stock worth $132,238,000 after acquiring an additional 1,042,724 shares in the last quarter. Vanguard Group Inc raised its stake in shares of STAAR Surgical by 60.9% during the third quarter. Vanguard Group Inc now owns 2,754,944 shares of the medical instruments supplier’s stock worth $132,238,000 after acquiring an additional 1,042,724 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of STAAR Surgical by 4.0% during the first quarter. Baillie Gifford & Co. now owns 1,774,201 shares of the medical instruments supplier’s stock worth $60,659,000 after acquiring an additional 68,680 shares in the last quarter. Finally, Defender Capital LLC. raised its stake in shares of STAAR Surgical by 10.2% during the first quarter. Defender Capital LLC. now owns 524,686 shares of the medical instruments supplier’s stock worth $18,547,000 after acquiring an additional 48,400 shares in the last quarter. 90.99% of the stock is currently owned by institutional investors and hedge funds.

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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