STAAR Surgical (NASDAQ:STAA) Short Interest Update

STAAR Surgical (NASDAQ:STAA) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 2,920,000 shares, a drop of 30.1% from the October 15th total of 4,180,000 shares. Based on an average daily volume of 746,000 shares, the short-interest ratio is presently 3.9 days.

Hedge Funds Weigh In On STAAR Surgical

Hedge funds and other institutional investors have recently modified their holdings of the business. Arcadia Investment Management Corp MI purchased a new position in STAAR Surgical during the 3rd quarter valued at about $37,000. Quarry LP acquired a new stake in STAAR Surgical during the 3rd quarter worth $50,000. Covestor Ltd increased its position in shares of STAAR Surgical by 38.9% during the first quarter. Covestor Ltd now owns 2,690 shares of the medical instruments supplier’s stock worth $103,000 after purchasing an additional 754 shares in the last quarter. Quest Partners LLC purchased a new stake in STAAR Surgical in the third quarter valued at approximately $128,000. Finally, Canada Pension Plan Investment Board purchased a new position in STAAR Surgical during the 2nd quarter worth $129,000. 96.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Canaccord Genuity Group lowered their price objective on STAAR Surgical from $41.00 to $31.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Stifel Nicolaus reduced their target price on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $43.33.

STAAR Surgical Stock Down 2.3 %

Shares of STAAR Surgical stock traded down $0.64 on Friday, reaching $26.66. The company’s stock had a trading volume of 495,977 shares, compared to its average volume of 712,914. The company has a market capitalization of $1.31 billion, a P/E ratio of 60.59 and a beta of 0.61. The stock has a 50-day moving average price of $31.29 and a 200-day moving average price of $37.28. STAAR Surgical has a 52-week low of $26.62 and a 52-week high of $52.68.

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.