STAAR Surgical (STAA) Upgraded by TheStreet to B-

STAAR Surgical (NASDAQ:STAA) was upgraded by equities researchers at TheStreet from a “c” rating to a “b-” rating in a research report issued on Monday.

STAA has been the subject of a number of other reports. Zacks Investment Research downgraded STAAR Surgical from a “hold” rating to a “sell” rating in a research report on Friday, April 6th. BidaskClub downgraded STAAR Surgical from a “buy” rating to a “hold” rating in a research report on Thursday, March 29th. William Blair upgraded STAAR Surgical from a “market perform” rating to an “outperform” rating in a research report on Monday, April 30th. ValuEngine upgraded STAAR Surgical from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Canaccord Genuity restated a “buy” rating and issued a $21.00 price target on shares of STAAR Surgical in a research report on Tuesday, April 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $19.25.

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NASDAQ STAA opened at $24.05 on Monday. The company has a quick ratio of 1.90, a current ratio of 2.43 and a debt-to-equity ratio of 0.03. The company has a market cap of $984.32 million, a PE ratio of 2,405.00 and a beta of 1.21. STAAR Surgical has a one year low of $23.55 and a one year high of $24.80.

STAAR Surgical (NASDAQ:STAA) last posted its earnings results on Wednesday, May 2nd. The medical instruments supplier reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. The firm had revenue of $27.09 million during the quarter, compared to the consensus estimate of $23.00 million. STAAR Surgical had a return on equity of 6.80% and a net margin of 0.66%. During the same period in the prior year, the company earned ($0.05) EPS. sell-side analysts expect that STAAR Surgical will post 0.03 EPS for the current year.

In related news, CFO Deborah J. Andrews sold 13,331 shares of the firm’s stock in a transaction on Thursday, May 3rd. The stock was sold at an average price of $17.60, for a total value of $234,625.60. Following the completion of the sale, the chief financial officer now directly owns 28,998 shares in the company, valued at $510,364.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Caren L. Mason sold 6,667 shares of the stock in a transaction on Monday, March 19th. The stock was sold at an average price of $16.09, for a total value of $107,272.03. Following the completion of the sale, the chief executive officer now owns 51,513 shares in the company, valued at approximately $828,844.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,810 shares of company stock valued at $451,186. 3.90% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in STAA. Millennium Management LLC purchased a new stake in STAAR Surgical in the fourth quarter worth $7,153,000. Baillie Gifford & Co. increased its stake in STAAR Surgical by 35.3% in the first quarter. Baillie Gifford & Co. now owns 1,071,975 shares of the medical instruments supplier’s stock worth $15,866,000 after purchasing an additional 279,568 shares during the period. King Luther Capital Management Corp increased its stake in STAAR Surgical by 693.3% in the first quarter. King Luther Capital Management Corp now owns 163,390 shares of the medical instruments supplier’s stock worth $2,418,000 after purchasing an additional 142,795 shares during the period. Folger Hill Asset Management LP purchased a new stake in STAAR Surgical in the fourth quarter worth $2,170,000. Finally, Next Century Growth Investors LLC purchased a new stake in STAAR Surgical in the first quarter worth $1,852,000. Institutional investors and hedge funds own 78.58% 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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