STAAR Surgical (NASDAQ:STAA) Trading 10.4% Higher – Still a Buy?

STAAR Surgical (NASDAQ:STAA) shares traded up 10.4% during trading on Tuesday . The company traded as high as $16.90 and last traded at $16.94. 1,104,525 shares changed hands during mid-day trading, an increase of 12% from the average session volume of 982,536 shares. The stock had previously closed at $15.35.

Analyst Ratings Changes

A number of equities analysts have issued reports on STAA shares. Mizuho cut STAAR Surgical from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $45.00 to $17.00 in a report on Wednesday, February 12th. BTIG Research cut STAAR Surgical from a “buy” rating to a “neutral” rating in a report on Wednesday, February 12th. William Blair cut STAAR Surgical from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Piper Sandler lowered their target price on STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Finally, Stephens reiterated an “equal weight” rating and set a $28.00 target price on shares of STAAR Surgical in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $26.86.

STAAR Surgical Trading Down 5.2 %

The stock’s 50 day moving average price is $22.63 and its 200 day moving average price is $28.32. The company has a market capitalization of $830.37 million, a price-to-earnings ratio of -41.10 and a beta of 0.62.

Insider Transactions at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. bought 23,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average cost of $24.33 per share, for a total transaction of $559,590.00. Following the purchase, the insider now owns 10,848,631 shares of the company’s stock, valued at approximately $263,947,192.23. This trade represents a 0.21 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders acquired a total of 402,024 shares of company stock worth $6,936,904 in the last three months. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On STAAR Surgical

Several hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in STAAR Surgical by 13.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 110,506 shares of the medical instruments supplier’s stock valued at $2,684,000 after purchasing an additional 13,075 shares during the last quarter. Voloridge Investment Management LLC lifted its stake in STAAR Surgical by 9.4% in the 4th quarter. Voloridge Investment Management LLC now owns 296,256 shares of the medical instruments supplier’s stock valued at $7,196,000 after purchasing an additional 25,350 shares during the last quarter. Squarepoint Ops LLC lifted its stake in STAAR Surgical by 81.3% in the 4th quarter. Squarepoint Ops LLC now owns 117,074 shares of the medical instruments supplier’s stock valued at $2,844,000 after purchasing an additional 52,488 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new stake in STAAR Surgical in the 4th quarter valued at about $502,000. Finally, Raiffeisen Bank International AG acquired a new stake in STAAR Surgical during the fourth quarter worth approximately $1,926,000. 96.70% of the stock is currently owned by institutional investors and hedge funds.

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.