STAAR Surgical (NASDAQ:STAA) Trading Up 7.7% – Time to Buy?

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

Analyst Ratings Changes

Several brokerages have recently weighed in on STAA. Piper Sandler decreased their price target on STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Stifel Nicolaus lowered their target price on shares of STAAR Surgical from $38.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Stephens reaffirmed an “equal weight” rating and set a $28.00 price target on shares of STAAR Surgical in a research report on Wednesday, February 12th. Mizuho lowered STAAR Surgical from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $45.00 to $17.00 in a research report on Wednesday, February 12th. Finally, BTIG Research cut STAAR Surgical from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, STAAR Surgical has a consensus rating of “Hold” and a consensus price target of $26.86.

STAAR Surgical Stock Up 8.9 %

The firm’s 50-day simple moving average is $21.02 and its 200-day simple moving average is $26.65. The firm has a market capitalization of $985.12 million, a PE ratio of -48.92 and a beta of 0.66.

Insider Buying and Selling

In related news, major shareholder Broadwood Partners, L.P. acquired 23,000 shares of STAAR Surgical stock in a transaction that occurred on Wednesday, December 18th. The stock was bought at an average price of $24.33 per share, with a total value of $559,590.00. Following the transaction, the insider now directly owns 10,848,631 shares in the company, valued at approximately $263,947,192.23. This represents a 0.21 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders acquired 910,843 shares of company stock valued at $15,509,972 over the last quarter. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On STAAR Surgical

A number of hedge funds have recently bought and sold shares of STAA. Quarry LP purchased a new stake in STAAR Surgical during the 3rd quarter valued at $50,000. Quest Partners LLC bought a new position in STAAR Surgical in the third quarter worth approximately $128,000. Van ECK Associates Corp boosted its stake in shares of STAAR Surgical by 12.7% during the 3rd quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock worth $129,000 after acquiring an additional 393 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in STAAR Surgical during the fourth quarter valued at about $180,000. Finally, Larson Financial Group LLC raised its stake in shares of STAAR Surgical by 78.3% in the third quarter. Larson Financial Group LLC now owns 4,863 shares of the medical instruments supplier’s stock worth $181,000 after buying an additional 2,135 shares during the period. Hedge funds and other 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.