STAAR Surgical (NASDAQ:STAA) Trading 4.8% Higher

STAAR Surgical (NASDAQ:STAA)’s stock price traded up 4.8% during mid-day trading on Friday . The company traded as high as $35.51 and last traded at $35.48. 84,091 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 709,868 shares. The stock had previously closed at $33.87.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on STAA shares. Stifel Nicolaus lowered their price objective on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. BTIG Research raised their price target on shares of STAAR Surgical from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Canaccord Genuity Group cut their price objective on shares of STAAR Surgical from $43.00 to $41.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research note on Thursday, September 19th. Finally, Morgan Stanley lowered STAAR Surgical from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $50.00 to $37.00 in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, STAAR Surgical presently has an average rating of “Hold” and a consensus price target of $45.57.

STAAR Surgical Trading Up 9.9 %

The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 120.10 and a beta of 0.58. The firm’s 50-day moving average is $35.14 and its two-hundred day moving average is $40.30.

STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Wednesday, August 7th. The medical instruments supplier reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). The firm had revenue of $99.01 million for the quarter, compared to analyst estimates of $95.22 million. STAAR Surgical had a net margin of 4.99% and a return on equity of 5.60%. STAAR Surgical’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 EPS. On average, analysts predict that STAAR Surgical will post 0.17 earnings per share for the current year.

Insider Buying and Selling at STAAR Surgical

In other STAAR Surgical news, Director Arthur C. Butcher bought 1,315 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $37.99 per share, with a total value of $49,956.85. Following the completion of the acquisition, the director now directly owns 4,208 shares of the company’s stock, valued at $159,861.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On STAAR Surgical

A number of large investors have recently made changes to their positions in STAA. Sei Investments Co. boosted its stake in STAAR Surgical by 2.7% during the second quarter. Sei Investments Co. now owns 15,087 shares of the medical instruments supplier’s stock worth $718,000 after buying an additional 394 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of STAAR Surgical by 1.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 42,577 shares of the medical instruments supplier’s stock worth $1,630,000 after acquiring an additional 407 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of STAAR Surgical by 3.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,343 shares of the medical instruments supplier’s stock valued at $540,000 after acquiring an additional 418 shares during the last quarter. Linden Thomas Advisory Services LLC grew its holdings in shares of STAAR Surgical by 2.3% in the second quarter. Linden Thomas Advisory Services LLC now owns 20,721 shares of the medical instruments supplier’s stock valued at $987,000 after purchasing an additional 469 shares during the period. Finally, Louisiana State Employees Retirement System grew its holdings in shares of STAAR Surgical by 2.1% in the second quarter. Louisiana State Employees Retirement System now owns 24,700 shares of the medical instruments supplier’s stock valued at $1,176,000 after purchasing an additional 500 shares during the period. 96.70% of the stock is currently owned by hedge funds and other institutional investors.

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.