STAAR Surgical (NASDAQ:STAA) Shares Down 7.3% – Here’s Why

STAAR Surgical Company (NASDAQ:STAAGet Free Report) was down 7.3% during trading on Monday . The stock traded as low as $24.53 and last traded at $24.5070. 557,349 shares were traded during trading, a decline of 53% from the average daily volume of 1,192,334 shares. The stock had previously closed at $26.44.

Analyst Upgrades and Downgrades

STAA has been the topic of a number of research reports. Weiss Ratings raised STAAR Surgical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 25th. Canaccord Genuity Group lifted their price target on shares of STAAR Surgical from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Wall Street Zen upgraded shares of STAAR Surgical from a “hold” rating to a “buy” rating in a research note on Sunday, July 5th. Mizuho raised their price objective on shares of STAAR Surgical from $22.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, Wedbush reiterated an “outperform” rating and set a $40.00 price objective on shares of STAAR Surgical in a report on Thursday, July 16th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $27.81.

Read Our Latest Report on STAA

STAAR Surgical Trading Up 1.3%

The company has a quick ratio of 4.31, a current ratio of 5.12 and a debt-to-equity ratio of 0.09. The firm has a 50 day moving average price of $29.27 and a 200 day moving average price of $23.83. The stock has a market capitalization of $1.21 billion, a PE ratio of -56.44 and a beta of 1.23.

STAAR Surgical (NASDAQ:STAAGet Free Report) last announced its 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 company had revenue of $93.52 million for the quarter, compared to analysts’ expectations of $78.72 million. STAAR Surgical had a positive return on equity of 3.31% and a negative net margin of 7.24%.STAAR Surgical’s quarterly revenue was up 119.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.10) earnings per share. Equities analysts expect that STAAR Surgical Company will post 0.13 EPS for the current fiscal year.

Institutional Trading of STAAR Surgical

Several institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its position in shares of STAAR Surgical by 2,605.1% during 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 in the 1st quarter worth about $77,000. Tower Research Capital LLC TRC grew its position in 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 worth $99,000 after purchasing an additional 4,673 shares in the last quarter. Russell Investments Group Ltd. increased its stake in STAAR Surgical by 9,928.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock valued at $121,000 after buying an additional 4,468 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in STAAR Surgical by 2,867.1% in the 1st quarter. Fifth Third Bancorp now owns 11,008 shares of the medical instruments supplier’s stock valued at $206,000 after buying an additional 10,637 shares during the last quarter. 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.

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