STAAR Surgical (NASDAQ:STAA) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,173,056 shares, a growth of 36.8% from the August 15th total of 857,551 shares. Approximately 2.8% of the shares of the company are short sold. Based on an average trading volume of 435,777 shares, the days-to-cover ratio is currently 2.7 days.
In other STAAR Surgical news, Director William P. Wall sold 5,000 shares of the business’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $41.35, for a total transaction of $206,750.00. Following the completion of the transaction, the director now owns 16,235 shares in the company, valued at approximately $671,317.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.90% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of STAA. King Luther Capital Management Corp raised its position in shares of STAAR Surgical by 693.3% during the first quarter. King Luther Capital Management Corp now owns 163,390 shares of the medical instruments supplier’s stock worth $2,418,000 after purchasing an additional 142,795 shares during the period. BlackRock Inc. raised its position in shares of STAAR Surgical by 4.1% during the first quarter. BlackRock Inc. now owns 2,715,776 shares of the medical instruments supplier’s stock worth $40,194,000 after purchasing an additional 105,795 shares during the period. Baillie Gifford & Co. raised its position in shares of STAAR Surgical by 35.3% during the first quarter. Baillie Gifford & Co. now owns 1,071,975 shares of the medical instruments supplier’s stock worth $15,866,000 after purchasing an additional 279,568 shares during the period. GSA Capital Partners LLP raised its position in shares of STAAR Surgical by 28.1% during the first quarter. GSA Capital Partners LLP now owns 29,480 shares of the medical instruments supplier’s stock worth $436,000 after purchasing an additional 6,459 shares during the period. Finally, Next Century Growth Investors LLC acquired a new stake in shares of STAAR Surgical during the first quarter worth $1,852,000. 79.51% of the stock is currently owned by institutional investors.
STAA opened at $50.30 on Friday. STAAR Surgical has a one year low of $10.75 and a one year high of $54.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.68. The firm has a market capitalization of $2.14 billion, a PE ratio of 5,030.00 and a beta of 1.88.
STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings data on Wednesday, August 1st. The medical instruments supplier reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.08. STAAR Surgical had a return on equity of 16.04% and a net margin of 3.15%. The company had revenue of $33.91 million for the quarter, compared to the consensus estimate of $27.10 million. research analysts forecast that STAAR Surgical will post 0.03 EPS for the current year.
A number of research analysts have issued reports on STAA shares. Zacks Investment Research upgraded STAAR Surgical from a “hold” rating to a “strong-buy” rating and set a $46.00 price target for the company in a research report on Thursday, August 9th. Benchmark started coverage on STAAR Surgical in a research report on Monday, August 6th. They set a “buy” rating and a $45.00 price target for the company. Canaccord Genuity reiterated a “buy” rating and set a $43.00 price target (up previously from $32.00) on shares of STAAR Surgical in a research report on Thursday, August 2nd. ValuEngine raised STAAR Surgical from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 2nd. Finally, BidaskClub raised STAAR Surgical from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 24th. Four analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $41.75.
About STAAR Surgical
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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