STAAR Surgical (NASDAQ:STAA) Stock Price Up 7.7% – Should You Buy?

STAAR Surgical (NASDAQ:STAA) shot up 7.7% on Monday . The company traded as high as $19.82 and last traded at $19.75. 212,078 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 1,086,151 shares. The stock had previously closed at $18.34.

Wall Street Analyst Weigh In

STAA has been the subject of several recent analyst reports. Piper Sandler reduced their price target on STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. BTIG Research cut STAAR Surgical from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 12th. Mizuho downgraded shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $45.00 to $17.00 in a report on Wednesday, February 12th. Canaccord Genuity Group decreased their price target on shares of STAAR Surgical from $28.00 to $17.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Finally, Jefferies Financial Group downgraded STAAR Surgical from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $26.86.

STAAR Surgical Trading Up 8.9 %

The stock has a market cap of $985.12 million, a P/E ratio of -48.92 and a beta of 0.66. The business’s fifty day simple moving average is $21.02 and its 200 day simple moving average is $26.65.

Insider Transactions at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. purchased 53,500 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was purchased at an average cost of $24.24 per share, for a total transaction of $1,296,840.00. Following the completion of the purchase, the insider now directly owns 10,821,931 shares in the company, valued at $262,323,607.44. This trade represents a 0.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought a total of 910,843 shares of company stock valued at $15,509,972 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Quarry LP bought a new position in shares of STAAR Surgical during the third quarter worth approximately $50,000. Quest Partners LLC bought a new stake in shares of STAAR Surgical in the third quarter valued at about $128,000. Van ECK Associates Corp grew its stake in shares of STAAR Surgical by 12.7% in the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock valued at $129,000 after acquiring an additional 393 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of STAAR Surgical by 78.3% during the third quarter. Larson Financial Group LLC now owns 4,863 shares of the medical instruments supplier’s stock worth $181,000 after purchasing an additional 2,135 shares during the period. Finally, Creative Planning raised its position in shares of STAAR Surgical by 8.0% in the third quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock valued at $205,000 after buying an additional 408 shares in the last quarter. 96.70% of the stock is 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.