STAAR Surgical (NASDAQ:STAA) Shares Up 5.4%

STAAR Surgical (NASDAQ:STAA) shares shot up 5.4% during trading on Wednesday . The stock traded as high as $38.18 and last traded at $37.96. 105,074 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 728,334 shares. The stock had previously closed at $36.00.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus upgraded shares of STAAR Surgical from a “hold” rating to a “buy” rating and lifted their target price for the company from $30.00 to $50.00 in a report on Monday, March 11th. Piper Sandler lowered their target price on shares of STAAR Surgical from $40.00 to $33.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Mizuho lowered their target price on shares of STAAR Surgical from $50.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Morgan Stanley assumed coverage on shares of STAAR Surgical in a report on Monday, December 4th. They set an “equal weight” rating and a $35.00 target price for the company. Finally, Needham & Company LLC lowered shares of STAAR Surgical from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $45.63.

STAAR Surgical Trading Up 1.5 %

The company’s 50 day moving average price is $32.89 and its two-hundred day moving average price is $34.93. The firm has a market cap of $1.87 billion, a PE ratio of 89.02 and a beta of 0.83.

STAAR Surgical (NASDAQ:STAA) last released its earnings results on Monday, February 26th. The medical instruments supplier reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $76.27 million for the quarter, compared to analysts’ expectations of $75.94 million. STAAR Surgical had a net margin of 6.62% and a return on equity of 8.73%. The firm’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.04 EPS. Equities research analysts expect that STAAR Surgical will post 0.03 earnings per share for the current fiscal year.

Insider Transactions at STAAR Surgical

In other STAAR Surgical news, Director Aimee S. Weisner bought 1,750 shares of STAAR Surgical stock in a transaction dated Thursday, March 14th. The shares were purchased at an average cost of $38.11 per share, for a total transaction of $66,692.50. Following the acquisition, the director now directly owns 10,864 shares in the company, valued at approximately $414,027.04. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other STAAR Surgical news, Director Aimee S. Weisner bought 1,750 shares of STAAR Surgical stock in a transaction dated Thursday, March 14th. The shares were purchased at an average cost of $38.11 per share, for a total transaction of $66,692.50. Following the acquisition, the director now directly owns 10,864 shares in the company, valued at approximately $414,027.04. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Broadwood Partners, L.P. purchased 156,734 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The shares were purchased at an average price of $28.48 per share, for a total transaction of $4,463,784.32. Following the completion of the acquisition, the insider now directly owns 10,764,388 shares in the company, valued at approximately $306,569,770.24. The disclosure for this purchase can be found here. Insiders have acquired a total of 169,099 shares of company stock worth $4,830,212 in the last three months. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

Several hedge funds have recently added to or reduced their stakes in STAA. Raymond James & Associates grew its stake in STAAR Surgical by 96.4% in the 1st quarter. Raymond James & Associates now owns 12,704 shares of the medical instruments supplier’s stock worth $1,015,000 after acquiring an additional 6,234 shares in the last quarter. US Bancorp DE grew its stake in STAAR Surgical by 23.5% in the 1st quarter. US Bancorp DE now owns 2,735 shares of the medical instruments supplier’s stock worth $219,000 after acquiring an additional 520 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in STAAR Surgical by 18.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,287 shares of the medical instruments supplier’s stock worth $102,000 after acquiring an additional 202 shares in the last quarter. Rhumbline Advisers grew its stake in STAAR Surgical by 2.2% in the 1st quarter. Rhumbline Advisers now owns 139,573 shares of the medical instruments supplier’s stock worth $11,153,000 after acquiring an additional 3,005 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in STAAR Surgical by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,445 shares of the medical instruments supplier’s stock worth $1,394,000 after acquiring an additional 1,663 shares in the last quarter. 96.70% of the stock is currently owned by institutional investors.

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.