STAAR Surgical (NASDAQ:STAA) Coverage Initiated at BTIG Research

BTIG Research began coverage on shares of STAAR Surgical (NASDAQ:STAA) in a research report report published on Wednesday morning, Benzinga reports. The firm issued a buy rating and a $46.00 target price on the medical instruments supplier’s stock.

A number of other equities research analysts have also recently issued reports on STAA. Zacks Investment Research cut shares of STAAR Surgical from a buy rating to a hold rating in a report on Saturday, October 19th. ValuEngine lowered STAAR Surgical from a buy rating to a hold rating in a research note on Tuesday, November 19th. Canaccord Genuity boosted their price objective on STAAR Surgical from $40.00 to $45.00 and gave the stock a buy rating in a research report on Monday, November 11th. Finally, BidaskClub upgraded STAAR Surgical from a sell rating to a hold rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. STAAR Surgical has an average rating of Hold and an average price target of $40.33.

STAAR Surgical stock traded down $0.67 during trading hours on Wednesday, reaching $37.46. 8,303 shares of the company were exchanged, compared to its average volume of 404,771. STAAR Surgical has a 12 month low of $21.70 and a 12 month high of $41.65. The company has a current ratio of 5.50, a quick ratio of 4.96 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average of $33.36 and a 200 day moving average of $29.86. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 134.04 and a beta of 2.38.

STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.05 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. STAAR Surgical had a net margin of 6.15% and a return on equity of 13.84%. The business had revenue of $39.06 million during the quarter, compared to the consensus estimate of $37.50 million. As a group, research analysts forecast that STAAR Surgical will post 0.25 EPS for the current year.

In related news, VP Graydon C. Hansen sold 17,083 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $35.02, for a total value of $598,246.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott D. Barnes sold 1,583 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $34.93, for a total value of $55,294.19. Following the completion of the transaction, the insider now directly owns 11,032 shares of the company’s stock, valued at $385,347.76. The disclosure for this sale can be found here. Insiders sold 24,933 shares of company stock valued at $871,552 over the last three months. 4.30% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC bought a new position in shares of STAAR Surgical during the second quarter valued at $29,997,000. Nuveen Asset Management LLC increased its stake in shares of STAAR Surgical by 2,140.1% in the second quarter. Nuveen Asset Management LLC now owns 738,169 shares of the medical instruments supplier’s stock valued at $21,688,000 after buying an additional 705,217 shares in the last quarter. Ardsley Advisory Partners LP raised its holdings in shares of STAAR Surgical by 3,650.0% in the second quarter. Ardsley Advisory Partners LP now owns 375,000 shares of the medical instruments supplier’s stock valued at $11,018,000 after buying an additional 365,000 shares during the last quarter. Marshall Wace LLP lifted its position in STAAR Surgical by 167.0% during the 2nd quarter. Marshall Wace LLP now owns 538,154 shares of the medical instruments supplier’s stock worth $15,811,000 after buying an additional 336,624 shares in the last quarter. Finally, RE Advisers Corp acquired a new position in STAAR Surgical during the 2nd quarter worth about $7,043,000. 93.17% of the stock is owned by institutional investors.

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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