STAAR Surgical (NASDAQ:STAA) Shares Up 4.5% – What’s Next?

Shares of STAAR Surgical Company (NASDAQ:STAA) rose 4.5% during trading on Wednesday . The stock traded as high as $19.04 and last traded at $18.66. Approximately 115,316 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 1,497,409 shares. The stock had previously closed at $17.85.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wedbush initiated coverage on shares of STAAR Surgical in a research note on Tuesday, February 3rd. They issued a “neutral” rating and a $26.00 price target for the company. Stifel Nicolaus reduced their price objective on STAAR Surgical from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Wednesday, March 4th. Wells Fargo & Company decreased their target price on STAAR Surgical from $30.75 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, March 5th. Weiss Ratings reissued a “sell (d)” rating on shares of STAAR Surgical in a research note on Thursday, January 22nd. Finally, Morgan Stanley initiated coverage on STAAR Surgical in a report on Friday, January 16th. They set an “underweight” rating and a $13.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $19.21.

STAAR Surgical Trading Down 6.0%

The firm has a market capitalization of $864.94 million, a PE ratio of -10.72 and a beta of 1.05. The company has a fifty day moving average price of $18.78 and a two-hundred day moving average price of $23.45.

STAAR Surgical (NASDAQ:STAA) last released its quarterly earnings results on Tuesday, March 3rd. The medical instruments supplier reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.51). The firm had revenue of $57.80 million for the quarter, compared to analysts’ expectations of $75.54 million. STAAR Surgical had a negative return on equity of 10.03% and a negative net margin of 33.60%.The business’s revenue was up 18.0% on a year-over-year basis. As a group, equities research analysts predict that STAAR Surgical Company will post -1.14 earnings per share for the current year.

Insider Buying and Selling at STAAR Surgical

In other STAAR Surgical news, Director Broadwood Partners, L.P. bought 316,017 shares of the stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $18.61 per share, for a total transaction of $5,881,076.37. Following the completion of the transaction, the director owned 16,123,842 shares in the company, valued at approximately $300,064,699.62. The trade was a 2.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased 1,104,351 shares of company stock valued at $21,690,426 over the last three months. 0.59% of the stock is currently owned by corporate insiders.

Institutional Trading of STAAR Surgical

A number of large investors have recently bought and sold shares of STAA. Amalgamated Bank increased its stake in STAAR Surgical by 3.6% in the third quarter. Amalgamated Bank now owns 14,609 shares of the medical instruments supplier’s stock valued at $393,000 after purchasing an additional 514 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of STAAR Surgical by 58.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,669 shares of the medical instruments supplier’s stock worth $39,000 after buying an additional 614 shares during the period. GAMMA Investing LLC boosted its stake in shares of STAAR Surgical by 61.4% during the third quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock worth $50,000 after buying an additional 706 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of STAAR Surgical by 7.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,711 shares of the medical instruments supplier’s stock worth $213,000 after buying an additional 923 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of STAAR Surgical by 0.6% during the third quarter. Invesco Ltd. now owns 150,896 shares of the medical instruments supplier’s stock worth $4,055,000 after buying an additional 956 shares during the last quarter. 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.