STAAR Surgical (NASDAQ:STAA) Rating Lowered to Hold at Zacks Investment Research

STAAR Surgical (NASDAQ:STAA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

According to Zacks, “Staar Surgical Company has evolved to become a developer, manufacturer and global distributor of products used by ophthalmologists and other eye care professionals to improve or correct vision in patients suffering from refractive conditions, cataracts and glaucoma. “

Several other equities research analysts also recently issued reports on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $38.00 target price (down from $43.00) on shares of STAAR Surgical in a research note on Monday, May 6th. ValuEngine upgraded shares of STAAR Surgical from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Finally, BidaskClub downgraded shares of STAAR Surgical from a “strong-buy” rating to a “buy” rating in a research report on Thursday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $42.00.

NASDAQ:STAA traded down $2.08 during mid-day trading on Friday, hitting $32.72. The stock had a trading volume of 8,959 shares, compared to its average volume of 333,604. STAAR Surgical has a twelve month low of $21.70 and a twelve month high of $54.00. The firm has a market cap of $1.35 billion, a PE ratio of 116.79 and a beta of 2.32. The stock has a 50 day simple moving average of $29.92. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.83 and a current ratio of 5.41.

STAAR Surgical (NASDAQ:STAA) last issued its earnings results on Wednesday, July 31st. The medical instruments supplier reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.04. STAAR Surgical had a net margin of 4.44% and a return on equity of 13.22%. The business had revenue of $39.66 million during the quarter, compared to the consensus estimate of $40.10 million. Equities analysts anticipate that STAAR Surgical will post 0.33 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. AdvisorNet Financial Inc lifted its position in STAAR Surgical by 54.8% during the second quarter. AdvisorNet Financial Inc now owns 1,742 shares of the medical instruments supplier’s stock worth $51,000 after acquiring an additional 617 shares during the last quarter. Legal & General Group Plc lifted its position in STAAR Surgical by 12.7% during the fourth quarter. Legal & General Group Plc now owns 7,616 shares of the medical instruments supplier’s stock worth $243,000 after acquiring an additional 857 shares during the last quarter. American Century Companies Inc. lifted its position in STAAR Surgical by 0.5% during the fourth quarter. American Century Companies Inc. now owns 175,398 shares of the medical instruments supplier’s stock worth $5,597,000 after acquiring an additional 892 shares during the last quarter. Advisor Group Inc. lifted its position in STAAR Surgical by 4.3% during the second quarter. Advisor Group Inc. now owns 22,817 shares of the medical instruments supplier’s stock worth $670,000 after acquiring an additional 937 shares during the last quarter. Finally, Mascoma Wealth Management LLC acquired a new stake in STAAR Surgical during the first quarter worth approximately $38,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

STAAR Surgical Company Profile

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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