STAAR Surgical (NASDAQ:STAA) Stock Price Down 3.3%

STAAR Surgical (NASDAQ:STAA) dropped 3.3% during mid-day trading on Tuesday . The company traded as low as $35.94 and last traded at $35.97. Approximately 131,243 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 727,365 shares. The stock had previously closed at $37.18.

Analyst Ratings Changes

STAA has been the topic of a number of research analyst reports. Needham & Company LLC lowered STAAR Surgical from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. Stifel Nicolaus upgraded shares of STAAR Surgical from a “hold” rating to a “buy” rating and upped their price objective for the company from $30.00 to $50.00 in a research note on Monday, March 11th. Morgan Stanley began coverage on shares of STAAR Surgical in a research note on Monday, December 4th. They issued an “equal weight” rating and a $35.00 price objective for the company. Mizuho reduced their target price on shares of STAAR Surgical from $50.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Finally, Piper Sandler reduced their target price on shares of STAAR Surgical from $40.00 to $33.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, STAAR Surgical presently has a consensus rating of “Hold” and a consensus price target of $45.63.

STAAR Surgical Stock Up 1.5 %

The company has a market cap of $1.87 billion, a PE ratio of 88.93 and a beta of 0.83. The stock’s 50 day simple moving average is $32.72 and its two-hundred day simple moving average is $34.91.

STAAR Surgical (NASDAQ:STAA) last issued its earnings results on Monday, February 26th. The medical instruments supplier reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). STAAR Surgical had a net margin of 6.62% and a return on equity of 8.73%. The business had revenue of $76.27 million during the quarter, compared to analysts’ expectations of $75.94 million. During the same period in the prior year, the business posted $0.04 EPS. The business’s revenue was up 19.1% on a year-over-year basis. Analysts forecast that STAAR Surgical will post 0.03 EPS for the current year.

Insiders Place Their Bets

In other STAAR Surgical news, Director Aimee S. Weisner purchased 1,750 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $38.11 per share, with a total value of $66,692.50. Following the acquisition, the director now owns 10,864 shares of the company’s stock, valued at approximately $414,027.04. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Aimee S. Weisner acquired 1,750 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $38.11 per share, for a total transaction of $66,692.50. Following the transaction, the director now directly owns 10,864 shares in the company, valued at approximately $414,027.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Broadwood Partners, L.P. acquired 156,734 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was purchased at an average price of $28.48 per share, for a total transaction of $4,463,784.32. Following the completion of the transaction, the insider now owns 10,764,388 shares in the company, valued at $306,569,770.24. The disclosure for this purchase can be found here. Insiders purchased a total of 169,099 shares of company stock valued at $4,830,212 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of STAAR Surgical

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clear Street Markets LLC acquired a new stake in STAAR Surgical during the third quarter valued at approximately $29,000. Evermay Wealth Management LLC increased its stake in STAAR Surgical by 100.0% in the 1st quarter. Evermay Wealth Management LLC now owns 600 shares of the medical instruments supplier’s stock valued at $38,000 after buying an additional 300 shares during the period. Cape Investment Advisory Inc. acquired a new position in STAAR Surgical in the 4th quarter valued at approximately $42,000. Lazard Asset Management LLC increased its stake in STAAR Surgical by 131.1% in the 1st quarter. Lazard Asset Management LLC now owns 684 shares of the medical instruments supplier’s stock valued at $54,000 after buying an additional 388 shares during the period. Finally, UBS Group AG increased its stake in STAAR Surgical by 130.7% in the 2nd quarter. UBS Group AG now owns 805 shares of the medical instruments supplier’s stock valued at $57,000 after buying an additional 456 shares during the period. 96.70% of the stock is owned by institutional investors and hedge funds.

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.