STAAR Surgical (NASDAQ:STAA) Shares Up 5.4% – Still a Buy?

Shares of STAAR Surgical Company (NASDAQ:STAA) traded up 5.4% on Tuesday . The stock traded as high as $22.75 and last traded at $23.3050. Approximately 11,044 shares were traded during mid-day trading, a decline of 99% from the average session volume of 1,162,946 shares. The stock had previously closed at $22.11.

Analysts Set New Price Targets

Several research firms have weighed in on STAA. Stifel Nicolaus lowered their target price on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, August 17th. Wall Street Zen lowered shares of STAAR Surgical from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. William Blair set a $33.00 target price on shares of STAAR Surgical in a research note on Thursday, August 13th. Piper Sandler reiterated a “neutral” rating on shares of STAAR Surgical in a report on Thursday, August 13th. Finally, Weiss Ratings raised STAAR Surgical from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, STAAR Surgical currently has an average rating of “Hold” and an average price target of $28.40.

STAAR Surgical Stock Down 1.7%

The firm has a 50-day moving average of $25.32 and a 200 day moving average of $24.67. The stock has a market capitalization of $1.16 billion, a P/E ratio of 330.19 and a beta of 1.21.

STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings results on Wednesday, August 12th. The medical instruments supplier reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.17. STAAR Surgical had a net margin of 1.13% and a return on equity of 9.05%. The firm had revenue of $93.53 million during the quarter, compared to analyst estimates of $90.60 million. During the same quarter in the prior year, the business posted ($0.34) earnings per share. The company’s quarterly revenue was up 111.1% compared to the same quarter last year. Analysts predict that STAAR Surgical Company will post 0.39 EPS for the current fiscal year.

Institutional Trading of STAAR Surgical

Several large investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its position in STAAR Surgical by 2,605.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock worth $28,000 after acquiring an additional 1,016 shares during the last quarter. Ascentis Independent Advisors acquired a new stake in STAAR Surgical in the first quarter worth about $77,000. Tower Research Capital LLC TRC grew its position in shares of 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. Russell Investments Group Ltd. raised its position 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 valued at $121,000 after acquiring an additional 4,468 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in STAAR Surgical by 2,867.1% in the first quarter. Fifth Third Bancorp now owns 11,008 shares of the medical instruments supplier’s stock valued at $206,000 after purchasing an additional 10,637 shares during the last quarter. 96.70% of the stock is owned by institutional investors.

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. 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.