STAAR Surgical (NASDAQ:STAA) Trading Up 8.4% – Here’s What Happened

STAAR Surgical Company (NASDAQ:STAA) traded up 8.4% on Tuesday . The stock traded as high as $19.54 and last traded at $19.7280. 1,252,896 shares changed hands during trading, a decline of 18% from the average session volume of 1,531,507 shares. The stock had previously closed at $18.20.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. BTIG Research restated a “neutral” rating on shares of STAAR Surgical in a report on Tuesday, January 6th. Canaccord Genuity Group decreased their target price on STAAR Surgical from $30.75 to $22.00 and set a “hold” rating for the company in a research report on Thursday, January 15th. Jefferies Financial Group decreased their price objective on STAAR Surgical from $28.00 to $21.50 and set a “buy” rating for the company in a report on Wednesday, January 28th. Piper Sandler reissued a “neutral” rating on shares of STAAR Surgical in a research report on Monday, October 27th. Finally, Wells Fargo & Company upped their price target on STAAR Surgical from $28.00 to $30.75 and gave the stock an “equal weight” rating in a report on Wednesday, December 10th. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $20.91.

STAAR Surgical Price Performance

The business has a fifty day simple moving average of $20.57 and a 200 day simple moving average of $24.53. The firm has a market cap of $959.73 million, a price-to-earnings ratio of -9.93 and a beta of 1.06.

Insider Buying and Selling at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. purchased 336,946 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was purchased at an average cost of $21.62 per share, for a total transaction of $7,284,772.52. Following the acquisition, the insider owned 15,356,437 shares in the company, valued at approximately $332,006,167.94. This trade represents a 2.24% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have acquired 434,138 shares of company stock worth $9,424,176. Insiders own 0.59% of the company’s stock.

Institutional Investors Weigh In On STAAR Surgical

A number of large investors have recently modified their holdings of the stock. CWM LLC grew its position in STAAR Surgical by 74.1% in the second quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier’s stock valued at $26,000 after acquiring an additional 665 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of 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 during the period. GAMMA Investing LLC boosted its stake in shares of STAAR Surgical by 61.4% in the third quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock valued at $50,000 after purchasing an additional 706 shares during the period. PNC Financial Services Group Inc. grew its holdings in STAAR Surgical by 691.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the medical instruments supplier’s stock valued at $61,000 after purchasing an additional 3,151 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in STAAR Surgical by 375.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock worth $99,000 after buying an additional 4,673 shares during the period. Institutional investors and hedge funds own 96.70% of the company’s stock.

About STAAR Surgical

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.