STAAR Surgical (NASDAQ:STAA) Trading Up 8.6%

Shares of STAAR Surgical (NASDAQ:STAA) were up 8.6% during trading on Wednesday . The stock traded as high as $47.71 and last traded at $45.98. Approximately 545,899 shares changed hands during mid-day trading, a decline of 16% from the average daily volume of 651,469 shares. The stock had previously closed at $42.32.

Analyst Ratings Changes

STAA has been the subject of several research reports. Mizuho increased their price target on shares of STAAR Surgical from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Stifel Nicolaus restated a “buy” rating and set a $50.00 price target on shares of STAAR Surgical in a research report on Monday, April 1st. William Blair upgraded shares of STAAR Surgical from a “market perform” rating to an “outperform” rating in a research report on Thursday, April 4th. Piper Sandler increased their price target on shares of STAAR Surgical from $33.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research report on Wednesday, May 8th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $47.00.

STAAR Surgical Price Performance

The business’s 50 day moving average is $42.87 and its two-hundred day moving average is $37.46. The firm has a market capitalization of $2.30 billion, a PE ratio of 150.87 and a beta of 0.65.

STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.12). STAAR Surgical had a return on equity of 6.83% and a net margin of 4.69%. The business had revenue of $77.40 million for the quarter, compared to analysts’ expectations of $75.34 million. During the same period last year, the business posted $0.05 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. Analysts expect that STAAR Surgical will post 0.08 EPS for the current fiscal year.

Institutional Trading of STAAR Surgical

A number of hedge funds have recently modified their holdings of STAA. Broadwood Capital Inc. raised its position in shares of STAAR Surgical by 13.7% in the 4th quarter. Broadwood Capital Inc. now owns 10,537,835 shares of the medical instruments supplier’s stock worth $328,886,000 after purchasing an additional 1,273,408 shares during the last quarter. Seven Eight Capital LP lifted its stake in STAAR Surgical by 47.0% during the 4th quarter. Seven Eight Capital LP now owns 67,885 shares of the medical instruments supplier’s stock valued at $2,119,000 after acquiring an additional 21,718 shares during the period. Handelsbanken Fonder AB lifted its stake in STAAR Surgical by 18.0% during the 4th quarter. Handelsbanken Fonder AB now owns 10,500 shares of the medical instruments supplier’s stock valued at $328,000 after acquiring an additional 1,600 shares during the period. Caxton Associates LP bought a new position in STAAR Surgical during the 4th quarter valued at about $1,948,000. Finally, Defender Capital LLC. lifted its stake in STAAR Surgical by 33.0% during the 4th quarter. Defender Capital LLC. now owns 722,532 shares of the medical instruments supplier’s stock valued at $22,550,000 after acquiring an additional 179,135 shares during the period. Institutional investors own 96.70% of the company’s stock.

STAAR Surgical Company Profile

STAAR Surgical Company, together with its subsidiaries, designs, develops, manufactures, markets, and sells implantable lenses for the eye, and companion delivery systems to deliver the lenses into the eye. The company provides implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia.