STAAR Surgical (NASDAQ:STAA) Trading Up 6.1%

STAAR Surgical (NASDAQ:STAA) was up 6.1% during mid-day trading on Tuesday . The stock traded as high as $113.24 and last traded at $113.06. Approximately 14,392 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 816,306 shares. The stock had previously closed at $106.58.

Several analysts have issued reports on STAA shares. Benchmark cut shares of STAAR Surgical from a “buy” rating to a “hold” rating in a research note on Tuesday, January 19th. They noted that the move was a valuation call. BTIG Research reiterated a “hold” rating on shares of STAAR Surgical in a research note on Monday, February 8th. Zacks Investment Research cut shares of STAAR Surgical from a “hold” rating to a “sell” rating in a research note on Wednesday, March 3rd. Finally, Canaccord Genuity increased their target price on shares of STAAR Surgical from $84.00 to $128.00 and gave the stock a “buy” rating in a research note on Thursday, February 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $64.00.

The firm has a market cap of $5.13 billion, a P/E ratio of 579.71 and a beta of 1.09. The business’s fifty day simple moving average is $101.31 and its 200-day simple moving average is $85.21.

STAAR Surgical (NASDAQ:STAA) last posted its earnings results on Tuesday, February 23rd. The medical instruments supplier reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.05. STAAR Surgical had a net margin of 5.73% and a return on equity of 8.99%. The firm had revenue of $46.00 million during the quarter, compared to analysts’ expectations of $45.40 million. During the same period last year, the company posted $0.14 EPS. Sell-side analysts predict that STAAR Surgical will post 0.11 EPS for the current year.

In other news, insider Samuel J. Gesten sold 1,032 shares of the firm’s stock in a transaction dated Monday, March 22nd. The shares were sold at an average price of $96.37, for a total value of $99,453.84. Following the completion of the sale, the insider now directly owns 42,583 shares of the company’s stock, valued at approximately $4,103,723.71. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Broadwood Partners, L.P. sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, January 12th. The stock was sold at an average price of $89.28, for a total transaction of $5,356,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,047,485 shares of company stock valued at $111,344,039. Corporate insiders own 3.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of STAA. JPMorgan Chase & Co. lifted its position in STAAR Surgical by 9.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,914 shares of the medical instruments supplier’s stock valued at $1,347,000 after acquiring an additional 2,156 shares during the period. UBS Asset Management Americas Inc. raised its holdings in STAAR Surgical by 0.6% in the third quarter. UBS Asset Management Americas Inc. now owns 342,130 shares of the medical instruments supplier’s stock worth $19,351,000 after buying an additional 2,174 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in STAAR Surgical by 29.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 298,472 shares of the medical instruments supplier’s stock worth $16,882,000 after buying an additional 68,096 shares during the last quarter. Morgan Stanley raised its holdings in STAAR Surgical by 158.0% in the third quarter. Morgan Stanley now owns 468,283 shares of the medical instruments supplier’s stock worth $26,486,000 after buying an additional 286,807 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in STAAR Surgical by 96.5% in the third quarter. AQR Capital Management LLC now owns 31,558 shares of the medical instruments supplier’s stock worth $1,785,000 after buying an additional 15,496 shares during the last quarter. 85.35% of the stock is owned by institutional investors.

About STAAR Surgical (NASDAQ:STAA)

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 Visian implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness.

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