STAAR Surgical (NASDAQ:STAA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, March 14th.
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. “
A number of other research analysts have also weighed in on STAA. BidaskClub raised STAAR Surgical from a “sell” rating to a “hold” rating in a report on Thursday, March 8th. Benchmark restated a “buy” rating and issued a $21.00 target price on shares of STAAR Surgical in a research note on Monday, November 20th. Finally, Canaccord Genuity upped their target price on STAAR Surgical from $17.50 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. STAAR Surgical presently has an average rating of “Hold” and a consensus price target of $17.67.
STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). The business had revenue of $24.85 million for the quarter. STAAR Surgical had a negative net margin of 2.36% and a negative return on equity of 2.28%. analysts predict that STAAR Surgical will post 0.1 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC increased its stake in STAAR Surgical by 15.6% during the second quarter. Voya Investment Management LLC now owns 21,777 shares of the medical instruments supplier’s stock worth $235,000 after acquiring an additional 2,942 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of STAAR Surgical by 8.7% in the third quarter. California Public Employees Retirement System now owns 48,711 shares of the medical instruments supplier’s stock valued at $606,000 after buying an additional 3,911 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of STAAR Surgical by 9.4% in the fourth quarter. Alliancebernstein L.P. now owns 59,400 shares of the medical instruments supplier’s stock valued at $921,000 after buying an additional 5,100 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of STAAR Surgical by 68.1% in the second quarter. Goldman Sachs Group Inc. now owns 19,073 shares of the medical instruments supplier’s stock valued at $206,000 after buying an additional 7,729 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of STAAR Surgical by 0.6% in the second quarter. Vanguard Group Inc. now owns 1,280,775 shares of the medical instruments supplier’s stock valued at $13,832,000 after buying an additional 7,803 shares in the last quarter. Institutional investors and hedge funds own 78.95% of the company’s stock.
WARNING: This piece was originally posted by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this piece on another site, it was stolen and republished in violation of international copyright & trademark laws. The legal version of this piece can be viewed at https://stocknewstimes.com/2018/03/21/staar-surgical-staa-rating-lowered-to-sell-at-zacks-investment-research.html.
About STAAR Surgical
STAAR Surgical Company designs, develops, manufactures and sells implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. It operates in the ophthalmic surgical market segment. Its principal products are intraocular lenses used in cataract surgery and implantable collamer lenses used in refractive surgery.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for STAAR Surgical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for STAAR Surgical and related companies with MarketBeat.com's FREE daily email newsletter.