STAAR Surgical (NASDAQ:STAA) Stock Price Up 8.4% – Here’s Why

Shares of STAAR Surgical Company (NASDAQ:STAA) shot up 8.4% on Tuesday . The company traded as high as $19.54 and last traded at $19.7280. 1,252,896 shares were traded during mid-day trading, a decline of 18% from the average session volume of 1,531,507 shares. The stock had previously closed at $18.20.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. BTIG Research reiterated a “neutral” rating on shares of STAAR Surgical in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of STAAR Surgical in a report on Thursday, January 22nd. Canaccord Genuity Group decreased their target price on shares of STAAR Surgical from $30.75 to $22.00 and set a “hold” rating on the stock in a research note on Thursday, January 15th. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research report on Tuesday, January 6th. Finally, Stifel Nicolaus cut their price target on STAAR Surgical from $28.00 to $19.00 and set a “hold” rating for the company in a report on Monday, February 9th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $20.91.

STAAR Surgical Stock Up 0.9%

The firm has a 50-day moving average of $20.35 and a two-hundred day moving average of $24.45. The company has a market capitalization of $1.01 billion, a PE ratio of -10.42 and a beta of 1.06.

Insider Activity

In related news, major shareholder Broadwood Partners, L.P. acquired 27,485 shares of STAAR Surgical stock in a transaction that occurred on Friday, January 9th. The shares were purchased at an average cost of $22.05 per share, for a total transaction of $606,044.25. Following the acquisition, the insider owned 15,453,629 shares in the company, valued at approximately $340,752,519.45. This represents a 0.18% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders bought 434,138 shares of company stock worth $9,424,176. 0.59% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On STAAR Surgical

Institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of STAAR Surgical by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,390 shares of the medical instruments supplier’s stock worth $518,000 after acquiring an additional 1,267 shares during the last quarter. Goldman Sachs Group Inc. raised its position in STAAR Surgical by 33.4% in the first quarter. Goldman Sachs Group Inc. now owns 544,843 shares of the medical instruments supplier’s stock valued at $9,606,000 after purchasing an additional 136,390 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in STAAR Surgical by 11.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,347 shares of the medical instruments supplier’s stock worth $2,175,000 after purchasing an additional 12,841 shares in the last quarter. CWM LLC boosted its position 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 worth $26,000 after buying an additional 665 shares during the period. Finally, AlphaQuest LLC boosted its position in shares of STAAR Surgical by 197.4% during the second quarter. AlphaQuest LLC now owns 10,879 shares of the medical instruments supplier’s stock worth $183,000 after buying an additional 7,221 shares during the period. 96.70% of the stock is currently 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. 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.