STAAR Surgical (NASDAQ:STAA) Short Interest Update

STAAR Surgical (NASDAQ:STAA) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 2,920,000 shares, a decline of 30.1% from the October 15th total of 4,180,000 shares. Based on an average daily volume of 746,000 shares, the short-interest ratio is presently 3.9 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Arcadia Investment Management Corp MI acquired a new position in shares of STAAR Surgical in the 3rd quarter valued at $37,000. Quarry LP purchased a new position in shares of STAAR Surgical in the 3rd quarter worth about $50,000. Covestor Ltd grew its holdings in shares of STAAR Surgical by 38.9% during the 1st quarter. Covestor Ltd now owns 2,690 shares of the medical instruments supplier’s stock worth $103,000 after purchasing an additional 754 shares during the period. Quest Partners LLC acquired a new stake in STAAR Surgical during the 3rd quarter worth approximately $128,000. Finally, Canada Pension Plan Investment Board purchased a new position in STAAR Surgical in the second quarter valued at approximately $129,000. Institutional investors and hedge funds own 96.70% of the company’s stock.

STAAR Surgical Stock Down 2.3 %

Shares of STAA traded down $0.64 on Friday, hitting $26.66. 495,977 shares of the stock traded hands, compared to its average volume of 712,914. The firm has a market capitalization of $1.31 billion, a P/E ratio of 60.59 and a beta of 0.61. STAAR Surgical has a 1 year low of $26.62 and a 1 year high of $52.68. The stock’s 50 day moving average is $31.29 and its two-hundred day moving average is $37.34.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research report on Thursday, October 31st. Stifel Nicolaus decreased their price target on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Finally, Canaccord Genuity Group lowered their price target on STAAR Surgical from $41.00 to $31.00 and set a “hold” rating on the stock in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $43.33.

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.