Canaccord Genuity Reaffirms Buy Rating for STAAR Surgical Company (STAA)

Canaccord Genuity restated their buy rating on shares of STAAR Surgical Company (NASDAQ:STAA) in a research note published on Sunday morning. The firm currently has a $15.00 target price on the medical instruments supplier’s stock.

Several other research analysts have also commented on STAA. BidaskClub raised STAAR Surgical from a strong sell rating to a sell rating in a report on Friday, August 11th. TheStreet raised STAAR Surgical from a d+ rating to a c rating in a report on Tuesday, August 15th. Benchmark Co. boosted their price objective on STAAR Surgical from $12.00 to $13.00 and gave the stock a buy rating in a report on Monday, August 14th. Finally, Zacks Investment Research lowered STAAR Surgical from a buy rating to a hold rating in a report on Friday, September 22nd. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $13.33.

Shares of STAAR Surgical (STAA) opened at 13.30 on Friday. STAAR Surgical has a 52 week low of $7.45 and a 52 week high of $13.95. The firm’s 50-day moving average is $12.11 and its 200-day moving average is $10.59. The firm’s market capitalization is $546.74 million.

STAAR Surgical (NASDAQ:STAA) last posted its earnings results on Wednesday, August 2nd. The medical instruments supplier reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.04. STAAR Surgical had a negative return on equity of 8.69% and a negative net margin of 6.06%. The business had revenue of $21.90 million during the quarter, compared to analyst estimates of $22.15 million. During the same quarter in the previous year, the firm earned ($0.02) EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. Equities analysts anticipate that STAAR Surgical will post ($0.11) EPS for the current year.

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A number of institutional investors and hedge funds have recently modified their holdings of the business. Stephens Inc. AR boosted its stake in STAAR Surgical by 2.6% in the second quarter. Stephens Inc. AR now owns 12,238 shares of the medical instruments supplier’s stock worth $132,000 after buying an additional 315 shares in the last quarter. Alliancebernstein L.P. boosted its stake in STAAR Surgical by 1.7% in the second quarter. Alliancebernstein L.P. now owns 54,300 shares of the medical instruments supplier’s stock worth $586,000 after buying an additional 900 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in STAAR Surgical by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 160,186 shares of the medical instruments supplier’s stock worth $1,569,000 after buying an additional 1,392 shares in the last quarter. Strs Ohio boosted its stake in STAAR Surgical by 6.2% in the second quarter. Strs Ohio now owns 27,300 shares of the medical instruments supplier’s stock worth $294,000 after buying an additional 1,600 shares in the last quarter. Finally, American International Group Inc. boosted its stake in STAAR Surgical by 7.1% in the first quarter. American International Group Inc. no

Several other research analysts have also commented on STAA. BidaskClub raised STAAR Surgical from a strong sell rating to a sell rating in a report on Friday, August 11th. TheStreet raised STAAR Surgical from a d+ rating to a c rating in a report on Tuesday, August 15th. Benchmark Co. boosted their price objective on STAAR Surgical from $12.00 to $13.00 and gave the stock a buy rating in a report on Monday, August 14th. Finally, Zacks Investment Research lowered STAAR Surgical from a buy rating to a hold rating in a report on Friday, September 22nd. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $13.33.

Shares of STAAR Surgical (STAA) opened at 13.30 on Friday. STAAR Surgical has a 52 week low of $7.45 and a 52 week high of $13.95. The firm’s 50-day moving average is $12.11 and its 200-day moving average is $10.59. The firm’s market capitalization is $546.74 million.

STAAR Surgical (NASDAQ:STAA) last posted its earnings results on Wednesday, August 2nd. The medical instruments supplier reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.04. STAAR Surgical had a negative return on equity of 8.69% and a negative net margin of 6.06%. The business had revenue of $21.90 million during the quarter, compared to analyst estimates of $22.15 million. During the same quarter in the previous year, the firm earned ($0.02) EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. Equities analysts anticipate that STAAR Surgical will post ($0.11) EPS for the current year.

ILLEGAL ACTIVITY WARNING: This article was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright law. The correct version of this article can be viewed at https://ledgergazette.com/2017/10/11/canaccord-genuity-reaffirms-buy-rating-for-staar-surgical-company-staa.html.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Stephens Inc. AR boosted its stake in STAAR Surgical by 2.6% in the second quarter. Stephens Inc. AR now owns 12,238 shares of the medical instruments supplier’s stock worth $132,000 after buying an additional 315 shares in the last quarter. Alliancebernstein L.P. boosted its stake in STAAR Surgical by 1.7% in the second quarter. Alliancebernstein L.P. now owns 54,300 shares of the medical instruments supplier’s stock worth $586,000 after buying an additional 900 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in STAAR Surgical by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 160,186 shares of the medical instruments supplier’s stock worth $1,569,000 after buying an additional 1,392 shares in the last quarter. Strs Ohio boosted its stake in STAAR Surgical by 6.2% in the second quarter. Strs Ohio now owns 27,300 shares of the medical instruments supplier’s stock worth $294,000 after buying an additional 1,600 shares in the last quarter. Finally, American International Group Inc. boosted its stake in STAAR Surgical by 7.1% in the first quarter. American International Group Inc. now owns 24,648 shares of the medical instruments supplier’s stock worth $242,000 after buying an additional 1,631 shares in the last quarter. 76.54% of the stock is owned by institutional investors and hedge funds.

STAAR Surgical Company Profile

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.

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