STAAR Surgical Company (NASDAQ:STAA) Short Interest Update

STAAR Surgical Company (NASDAQ:STAA) saw a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 5,735,019 shares, a growth of 43.2% from the January 29th total of 4,005,845 shares. Currently, 11.6% of the shares of the stock are short sold. Based on an average daily volume of 1,276,282 shares, the days-to-cover ratio is currently 4.5 days. Based on an average daily volume of 1,276,282 shares, the days-to-cover ratio is currently 4.5 days. Currently, 11.6% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on STAA shares. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research report on Tuesday, January 6th. Jefferies Financial Group decreased their price objective on STAAR Surgical from $28.00 to $21.50 and set a “buy” rating on the stock in a report on Wednesday, January 28th. Stifel Nicolaus cut their target price on shares of STAAR Surgical from $28.00 to $19.00 and set a “hold” rating for the company in a report on Monday, February 9th. BTIG Research reaffirmed a “neutral” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. Finally, Morgan Stanley assumed coverage on shares of STAAR Surgical in a research report on Friday, January 16th. They set an “underweight” rating and a $13.00 price objective for the company. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, STAAR Surgical presently has a consensus rating of “Reduce” and an average price target of $20.91.

STAAR Surgical Stock Down 2.1%

NASDAQ:STAA traded down $0.42 during mid-day trading on Friday, reaching $19.90. The company’s stock had a trading volume of 1,859,225 shares, compared to its average volume of 1,412,957. STAAR Surgical has a 1 year low of $14.69 and a 1 year high of $30.81. The stock has a fifty day moving average of $20.17 and a 200-day moving average of $24.35. The firm has a market capitalization of $989.83 million, a PE ratio of -10.21 and a beta of 1.06.

Insider Buying and Selling

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. purchased 336,946 shares of the company’s stock in a transaction on Tuesday, January 6th. The stock was acquired at an average cost of $21.62 per share, for a total transaction of $7,284,772.52. Following the purchase, the insider directly owned 15,356,437 shares of the company’s stock, valued at $332,006,167.94. This trade represents a 2.24% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders purchased 434,138 shares of company stock valued at $9,424,176. 0.59% of the stock is currently owned by insiders.

Institutional Trading of STAAR Surgical

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd raised its position in shares of STAAR Surgical by 2,605.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock worth $28,000 after acquiring an additional 1,016 shares in the last quarter. CWM LLC grew its holdings in shares of STAAR Surgical by 74.1% during the second quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier’s stock valued at $26,000 after buying an additional 665 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of STAAR Surgical by 61.4% in the third quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock worth $50,000 after purchasing an additional 706 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in STAAR Surgical by 691.0% in the second quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the medical instruments supplier’s stock valued at $61,000 after buying an additional 3,151 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in STAAR Surgical by 9,928.9% in the third quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock valued at $121,000 after buying an additional 4,468 shares during the last quarter. Institutional investors own 96.70% of the company’s stock.

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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.