STAAR Surgical (NASDAQ:STAA) Shares Up 5.4%

STAAR Surgical (NASDAQ:STAA) traded up 5.4% during mid-day trading on Wednesday . The company traded as high as $38.18 and last traded at $37.96. 105,074 shares changed hands during trading, a decline of 86% from the average session volume of 728,334 shares. The stock had previously closed at $36.00.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Morgan Stanley assumed coverage on STAAR Surgical in a report on Monday, December 4th. They set an “equal weight” rating and a $35.00 price target for the company. Needham & Company LLC cut STAAR Surgical from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. Mizuho cut their target price on STAAR Surgical from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Stifel Nicolaus upgraded STAAR Surgical from a “hold” rating to a “buy” rating and lifted their target price for the stock from $30.00 to $50.00 in a research report on Monday, March 11th. Finally, Piper Sandler cut their target price on STAAR Surgical from $40.00 to $33.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $45.63.

STAAR Surgical Stock Performance

The company has a 50-day simple moving average of $32.89 and a 200-day simple moving average of $34.93. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 89.02 and a beta of 0.83.

STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings results on Monday, February 26th. The medical instruments supplier reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $76.27 million for the quarter, compared to analysts’ expectations of $75.94 million. STAAR Surgical had a return on equity of 8.73% and a net margin of 6.62%. STAAR Surgical’s revenue was up 19.1% compared to the same quarter last year. During the same period last year, the firm earned $0.04 EPS. As a group, equities research analysts forecast that STAAR Surgical will post 0.03 EPS for the current year.

Insider Activity at STAAR Surgical

In related news, Director Aimee S. Weisner bought 1,750 shares of STAAR Surgical stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average price of $38.11 per share, with a total value of $66,692.50. Following the purchase, the director now owns 10,864 shares in the company, valued at $414,027.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other STAAR Surgical news, Director Aimee S. Weisner purchased 1,750 shares of STAAR Surgical stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $38.11 per share, with a total value of $66,692.50. Following the purchase, the director now directly owns 10,864 shares in the company, valued at approximately $414,027.04. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Broadwood Partners, L.P. purchased 4,042 shares of STAAR Surgical stock in a transaction on Monday, January 8th. The shares were acquired at an average cost of $27.11 per share, for a total transaction of $109,578.62. Following the purchase, the insider now owns 10,768,430 shares in the company, valued at $291,932,137.30. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 169,099 shares of company stock valued at $4,830,212. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Clear Street Markets LLC acquired a new stake in shares of STAAR Surgical during the 3rd quarter worth $29,000. Evermay Wealth Management LLC increased its holdings in shares of STAAR Surgical by 100.0% during the 1st quarter. Evermay Wealth Management LLC now owns 600 shares of the medical instruments supplier’s stock worth $38,000 after buying an additional 300 shares during the last quarter. Cape Investment Advisory Inc. acquired a new stake in shares of STAAR Surgical during the 4th quarter worth $42,000. Lazard Asset Management LLC increased its holdings in shares of STAAR Surgical by 131.1% during the 1st quarter. Lazard Asset Management LLC now owns 684 shares of the medical instruments supplier’s stock worth $54,000 after buying an additional 388 shares during the last quarter. Finally, UBS Group AG increased its holdings in shares of STAAR Surgical by 130.7% during the 2nd quarter. UBS Group AG now owns 805 shares of the medical instruments supplier’s stock worth $57,000 after buying an additional 456 shares during the last quarter. Hedge funds and other institutional investors own 96.70% of the company’s stock.

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.