STAAR Surgical (NASDAQ:STAA) Earns Hold Rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of STAAR Surgical (NASDAQ:STAA - Free Report) in a research report report published on Thursday, Benzinga reports.

Several other equities research analysts have also commented on the company. Stifel Nicolaus lowered their price objective on STAAR Surgical from $50.00 to $44.00 and set a "buy" rating on the stock in a research report on Monday, August 26th. BTIG Research lifted their price target on STAAR Surgical from $46.00 to $53.00 and gave the stock a "buy" rating in a report on Monday, July 15th. Morgan Stanley lowered shares of STAAR Surgical from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $50.00 to $37.00 in a report on Monday, July 15th. Finally, Canaccord Genuity Group reduced their price objective on shares of STAAR Surgical from $43.00 to $41.00 and set a "hold" rating on the stock in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $45.57.

STAAR Surgical Stock Performance

NASDAQ STAA traded down $0.50 on Thursday, hitting $28.99. 1,126,634 shares of the stock were exchanged, compared to its average volume of 716,386. The firm has a market capitalization of $1.43 billion, a P/E ratio of 85.26 and a beta of 0.59. STAAR Surgical has a 52-week low of $26.66 and a 52-week high of $52.68. The stock has a fifty day moving average price of $32.06 and a two-hundred day moving average price of $38.76.

STAAR Surgical (NASDAQ:STAA - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.09). The firm had revenue of $99.01 million during the quarter, compared to the consensus estimate of $95.22 million. STAAR Surgical had a net margin of 4.99% and a return on equity of 5.60%. The business's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 earnings per share. Sell-side analysts expect that STAAR Surgical will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other STAAR Surgical news, Director Arthur C. Butcher acquired 1,315 shares of the company's stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $37.99 per share, for a total transaction of $49,956.85. Following the acquisition, the director now directly owns 4,208 shares of the company's stock, valued at $159,861.92. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of STAAR Surgical

A number of institutional investors have recently added to or reduced their stakes in STAA. Arcadia Investment Management Corp MI acquired a new stake in shares of STAAR Surgical in the third quarter worth $37,000. Covestor Ltd grew its holdings in STAAR Surgical by 38.9% during the 1st quarter. Covestor Ltd now owns 2,690 shares of the medical instruments supplier's stock worth $103,000 after acquiring an additional 754 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in STAAR Surgical during the 2nd quarter worth about $129,000. Van ECK Associates Corp boosted its stake in shares of STAAR Surgical by 12.7% in the 3rd quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier's stock valued at $129,000 after purchasing an additional 393 shares during the last quarter. Finally, Larson Financial Group LLC bought a new position in shares of STAAR Surgical in the 2nd quarter valued at about $130,000. 96.70% of the stock is currently owned by institutional investors and hedge funds.

STAAR Surgical Company Profile

STAAR Surgical Company, together with its subsidiaries, designs, develops, manufactures, markets, and sells implantable lenses for the eye, and companion delivery systems to deliver the lenses into the eye. The company provides implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia.