BidaskClub Lowers STAAR Surgical (STAA) to Sell

STAAR Surgical (NASDAQ:STAA) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Separately, Zacks Investment Research lowered shares of STAAR Surgical from a “hold” rating to a “sell” rating in a research report on Thursday, April 12th. Two analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $17.67.

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NASDAQ:STAA opened at $14.25 on Tuesday. The firm has a market capitalization of $577.78, a PE ratio of 1,425.00 and a beta of 1.26. The company has a current ratio of 2.82, a quick ratio of 2.13 and a debt-to-equity ratio of 0.01. STAAR Surgical has a 1-year low of $8.95 and a 1-year high of $17.60.

STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). The firm 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%. research analysts predict that STAAR Surgical will post 0.03 EPS for the current fiscal year.

In related news, CTO Keith Holliday sold 2,188 shares of the firm’s stock in a transaction on Thursday, March 22nd. The shares were sold at an average price of $16.03, for a total transaction of $35,073.64. Following the sale, the chief technology officer now owns 43,781 shares in the company, valued at $701,809.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Samuel J. Gesten sold 2,833 shares of the firm’s stock in a transaction on Thursday, March 22nd. The shares were sold at an average price of $16.05, for a total transaction of $45,469.65. Following the sale, the insider now owns 38,316 shares in the company, valued at approximately $614,971.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,479 shares of company stock worth $216,561. 3.40% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. California Public Employees Retirement System grew its position in STAAR Surgical by 8.7% during 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 during the period. Alliancebernstein L.P. grew its position 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 purchasing an additional 5,100 shares during the period. Wells Fargo & Company MN grew its position in shares of STAAR Surgical by 12.6% in the fourth quarter. Wells Fargo & Company MN now owns 73,281 shares of the medical instruments supplier’s stock valued at $1,136,000 after purchasing an additional 8,226 shares during the period. Goldman Sachs Group Inc. grew its position in shares of STAAR Surgical by 28.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 43,882 shares of the medical instruments supplier’s stock valued at $680,000 after purchasing an additional 9,653 shares during the period. Finally, Macquarie Group Ltd. grew its position in shares of STAAR Surgical by 138.2% in the fourth quarter. Macquarie Group Ltd. now owns 17,630 shares of the medical instruments supplier’s stock valued at $273,000 after purchasing an additional 10,230 shares during the period. Institutional investors own 78.95% of the company’s stock.

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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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