STAAR Surgical (NASDAQ:STAA) Shares Down 5.2% – Here’s Why

STAAR Surgical Company (NASDAQ:STAAGet Free Report) traded down 5.2% during mid-day trading on Thursday . The company traded as low as $29.70 and last traded at $29.7680. 448,708 shares traded hands during trading, a decline of 67% from the average session volume of 1,361,874 shares. The stock had previously closed at $31.39.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on STAA shares. Wall Street Zen upgraded shares of STAAR Surgical from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Stifel Nicolaus raised their price objective on STAAR Surgical from $18.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, May 14th. Canaccord Genuity Group lifted their target price on STAAR Surgical from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Wells Fargo & Company boosted their target price on STAAR Surgical from $16.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, May 15th. Finally, Jefferies Financial Group lowered their price target on STAAR Surgical from $28.00 to $21.50 and set a “buy” rating for the company in a report on Wednesday, January 28th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.81.

Check Out Our Latest Report on STAAR Surgical

STAAR Surgical Stock Performance

The stock’s 50 day moving average is $25.04 and its two-hundred day moving average is $22.98. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -69.39 and a beta of 1.20. The company has a current ratio of 5.12, a quick ratio of 4.31 and a debt-to-equity ratio of 0.09.

STAAR Surgical (NASDAQ:STAAGet Free Report) last released its quarterly earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.05. The firm had revenue of $93.52 million for the quarter, compared to the consensus estimate of $78.72 million. STAAR Surgical had a positive return on equity of 3.31% and a negative net margin of 7.24%.The company’s revenue for the quarter was up 119.6% on a year-over-year basis. During the same quarter last year, the business posted ($1.10) EPS. Analysts expect that STAAR Surgical Company will post -0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Broadwood Partners, L.P. purchased 316,017 shares of STAAR Surgical stock in a transaction on Friday, March 13th. The stock was purchased at an average price of $18.61 per share, with a total value of $5,881,076.37. Following the transaction, the director directly owned 16,123,842 shares in the company, valued at $300,064,699.62. The trade was a 2.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last three months, insiders purchased 670,213 shares of company stock worth $12,266,249. Corporate insiders own 39.90% of the company’s stock.

Institutional Trading of STAAR Surgical

A number of institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd grew its position in STAAR Surgical by 2,605.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock valued at $28,000 after purchasing an additional 1,016 shares in the last quarter. Ascentis Independent Advisors bought a new stake in STAAR Surgical during the 1st quarter worth about $77,000. Russell Investments Group Ltd. boosted its stake in shares of STAAR Surgical by 9,928.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock worth $121,000 after buying an additional 4,468 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of STAAR Surgical by 375.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock valued at $99,000 after acquiring an additional 4,673 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in shares of STAAR Surgical in the 3rd quarter valued at about $208,000. Institutional investors own 96.70% of the company’s stock.

About STAAR Surgical

(Get Free Report)

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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.

Further Reading

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