STAAR Surgical (NASDAQ:STAA) Trading 8.6% Higher

STAAR Surgical (NASDAQ:STAA) was up 8.6% on Wednesday . The company traded as high as $47.71 and last traded at $45.98. Approximately 545,899 shares changed hands during mid-day trading, a decline of 16% from the average daily volume of 651,469 shares. The stock had previously closed at $42.32.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on STAA shares. Mizuho lifted their price target on shares of STAAR Surgical from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Piper Sandler boosted their price objective on shares of STAAR Surgical from $33.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research report on Wednesday, May 8th. Canaccord Genuity Group lowered their price objective on shares of STAAR Surgical from $46.00 to $43.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. Finally, William Blair upgraded shares of STAAR Surgical from a “market perform” rating to an “outperform” rating in a research report on Thursday, April 4th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $47.00.

STAAR Surgical Stock Up 4.0 %

The company has a market cap of $2.16 billion, a P/E ratio of 144.16 and a beta of 0.65. The firm’s 50 day moving average is $42.89 and its two-hundred day moving average is $37.34.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). The firm had revenue of $77.40 million for the quarter, compared to the consensus estimate of $75.34 million. STAAR Surgical had a net margin of 4.69% and a return on equity of 6.83%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $0.05 EPS. As a group, research analysts forecast that STAAR Surgical will post 0.08 EPS for the current fiscal year.

Institutional Trading of STAAR Surgical

A number of institutional investors have recently bought and sold shares of STAA. Texas Permanent School Fund Corp raised its holdings in shares of STAAR Surgical by 1.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 42,577 shares of the medical instruments supplier’s stock worth $1,630,000 after acquiring an additional 407 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of STAAR Surgical by 6.0% in the 3rd quarter. Hsbc Holdings PLC now owns 8,540 shares of the medical instruments supplier’s stock worth $347,000 after acquiring an additional 483 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of STAAR Surgical by 1.5% in the 1st quarter. Russell Investments Group Ltd. now owns 36,931 shares of the medical instruments supplier’s stock worth $1,406,000 after acquiring an additional 555 shares during the last quarter. Swiss National Bank raised its holdings in shares of STAAR Surgical by 0.8% in the 1st quarter. Swiss National Bank now owns 77,100 shares of the medical instruments supplier’s stock worth $2,951,000 after acquiring an additional 600 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its holdings in shares of STAAR Surgical by 10.7% in the 4th quarter. Perigon Wealth Management LLC now owns 7,288 shares of the medical instruments supplier’s stock worth $227,000 after acquiring an additional 703 shares during the last quarter. Institutional investors own 96.70% of the company’s stock.

About STAAR Surgical

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.