STAAR Surgical (NASDAQ:STAA) Shares Up 5.9% – Here’s What Happened

STAAR Surgical (NASDAQ:STAA)’s share price traded up 5.9% during mid-day trading on Tuesday . The stock traded as high as $25.44 and last traded at $25.35. 192,893 shares traded hands during trading, a decline of 72% from the average session volume of 700,001 shares. The stock had previously closed at $23.93.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Stephens raised shares of STAAR Surgical to a “hold” rating in a research report on Monday, December 2nd. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a report on Thursday, October 31st. Canaccord Genuity Group lowered their target price on STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a report on Monday, December 9th. Finally, Stifel Nicolaus cut their price target on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $42.83.

STAAR Surgical Stock Up 6.9 %

The company’s 50-day moving average is $28.70 and its 200 day moving average is $34.81. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 57.70 and a beta of 0.59.

Institutional Trading of STAAR Surgical

Several institutional investors have recently modified their holdings of the stock. Arcadia Investment Management Corp MI acquired a new stake in STAAR Surgical in the 3rd quarter worth about $37,000. Quarry LP acquired a new position in STAAR Surgical in the 3rd quarter valued at $50,000. Quest Partners LLC acquired a new position in STAAR Surgical in the 3rd quarter valued at $128,000. Canada Pension Plan Investment Board purchased a new position in STAAR Surgical in the 2nd quarter valued at $129,000. Finally, Van ECK Associates Corp boosted its stake in 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 purchasing an additional 393 shares during the last quarter. Institutional investors and hedge funds own 96.70% of the company’s stock.

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.