STAAR Surgical (NASDAQ:STAA) Trading Up 7.7% – Here’s What Happened

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

Wall Street Analyst Weigh In

STAA has been the subject of a number of research reports. StockNews.com downgraded STAAR Surgical from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. BTIG Research downgraded STAAR Surgical from a “buy” rating to a “neutral” rating in a report on Wednesday, February 12th. 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 report on Wednesday, February 12th. Mizuho downgraded STAAR Surgical from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $45.00 to $17.00 in a report on Wednesday, February 12th. Finally, Stifel Nicolaus decreased their price target on STAAR Surgical from $38.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.86.

STAAR Surgical Stock Down 6.7 %

The firm has a market capitalization of $904.62 million, a PE ratio of -44.73 and a beta of 0.66. The stock has a 50-day moving average price of $20.81 and a 200 day moving average price of $26.44.

Insider Activity

In other news, major shareholder Broadwood Partners, L.P. purchased 259,616 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was purchased at an average cost of $14.96 per share, for a total transaction of $3,883,855.36. Following the completion of the transaction, the insider now owns 11,137,623 shares of the company’s stock, valued at $166,618,840.08. This trade represents a 2.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders acquired 910,843 shares of company stock worth $15,509,972 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of STAAR Surgical

Several large investors have recently made changes to their positions in STAA. Creative Planning increased its position in shares of STAAR Surgical by 8.0% during the third quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock worth $205,000 after purchasing an additional 408 shares in the last quarter. Van ECK Associates Corp boosted its stake in STAAR Surgical by 12.7% during the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock worth $129,000 after buying an additional 393 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in STAAR Surgical during the third quarter worth $409,000. Los Angeles Capital Management LLC boosted its stake in STAAR Surgical by 78.3% during the third quarter. Los Angeles Capital Management LLC now owns 16,474 shares of the medical instruments supplier’s stock worth $612,000 after buying an additional 7,237 shares during the last quarter. Finally, Versor Investments LP boosted its stake in STAAR Surgical by 98.6% during the third quarter. Versor Investments LP now owns 16,400 shares of the medical instruments supplier’s stock worth $609,000 after buying an additional 8,142 shares during the last quarter. 96.70% of the stock is currently owned by hedge funds and other 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.