Needham Keeps Their Buy Rating on Staar Surgical (STAA)

In a report released today, David Saxon from Needham reiterated a Buy rating on Staar Surgical (STAAResearch Report), with a price target of $83.00. The company’s shares closed yesterday at $70.62.

Saxon covers the Healthcare sector, focusing on stocks such as NuVasive, Irhythm Technologies, and Alphatec Holdings. According to TipRanks, Saxon has an average return of -12.9% and a 21.59% success rate on recommended stocks.

Currently, the analyst consensus on Staar Surgical is a Strong Buy with an average price target of $95.57, representing a 35.33% upside. In a report released yesterday, BTIG also maintained a Buy rating on the stock with a $80.00 price target.

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Based on Staar Surgical’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $81.1 million and a net profit of $13.04 million. In comparison, last year the company earned a revenue of $62.37 million and had a net profit of $8.57 million

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STAAR Surgical Co. engages in the development, manufacture, production, marketing, and sale of implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. It specializes in refractive and cataract solutions. Its products include intraocular lens and implantable collamer lens. The company was founded in 1982 and is headquartered in Lake Forest, CA.

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