STAAR Surgical (STAA) – Investment Analysts’ Weekly Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of STAAR Surgical (NASDAQ: STAA) in the last few weeks:

  • 8/2/2019 – STAAR Surgical was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 8/1/2019 – STAAR Surgical was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 7/24/2019 – STAAR Surgical was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 7/12/2019 – STAAR Surgical was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $34.00 price target on the stock. 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. “
  • 6/22/2019 – STAAR Surgical was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 6/11/2019 – STAAR Surgical was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.

STAA stock traded down $1.38 during midday trading on Friday, reaching $33.42. 533,400 shares of the company’s stock traded hands, compared to its average volume of 443,032. STAAR Surgical has a 52-week low of $21.70 and a 52-week high of $54.00. The company has a market cap of $1.35 billion, a PE ratio of 119.36 and a beta of 2.32. The company has a current ratio of 5.41, a quick ratio of 4.83 and a debt-to-equity ratio of 0.04. The stock’s 50-day moving average is $29.92.

STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Wednesday, July 31st. The medical instruments supplier reported $0.14 EPS for the quarter, beating the Zacks’ 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 analysts’ expectations of $40.10 million. Sell-side analysts anticipate that STAAR Surgical will post 0.33 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. increased its holdings in 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 valued at $60,659,000 after buying an additional 68,680 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of STAAR Surgical in the second quarter worth $29,997,000. Defender Capital LLC. increased its stake in shares of STAAR Surgical by 10.2% in the first quarter. Defender Capital LLC. now owns 524,686 shares of the medical instruments supplier’s stock worth $18,547,000 after purchasing an additional 48,400 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of STAAR Surgical by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 407,917 shares of the medical instruments supplier’s stock worth $13,016,000 after purchasing an additional 5,146 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in shares of STAAR Surgical by 4.0% in the fourth quarter. Deutsche Bank AG now owns 384,631 shares of the medical instruments supplier’s stock worth $12,271,000 after purchasing an additional 14,736 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

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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