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

STAAR Surgical (NASDAQ:STAA) was up 7.7% during trading on Monday . The stock 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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on STAA shares. StockNews.com lowered shares of STAAR Surgical from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Jefferies Financial Group lowered shares of STAAR Surgical from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Stephens reiterated an “equal weight” rating and set a $28.00 target price on shares of STAAR Surgical in a research report on Wednesday, February 12th. Piper Sandler lowered their target price on STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $26.86.

STAAR Surgical Price Performance

The company has a market capitalization of $904.62 million, a P/E ratio of -44.73 and a beta of 0.66. The business has a 50-day moving average of $20.81 and a 200-day moving average of $26.44.

Insiders Place Their Bets

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. bought 249,503 shares of STAAR Surgical stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of $16.64 per share, for a total transaction of $4,151,729.92. Following the completion of the purchase, the insider now directly owns 11,953,198 shares in the company, valued at approximately $198,901,214.72. This trade represents a 2.13 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 910,843 shares of company stock worth $15,509,972 over the last quarter. Company insiders own 1.00% of the company’s stock.

Institutional Trading of STAAR Surgical

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP purchased a new position in shares of STAAR Surgical during the third quarter valued at $50,000. Quest Partners LLC purchased a new position in STAAR Surgical in the third quarter valued at about $128,000. Van ECK Associates Corp grew its stake in STAAR Surgical by 12.7% in the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock valued at $129,000 after purchasing an additional 393 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in STAAR Surgical in the fourth quarter valued at about $180,000. Finally, Larson Financial Group LLC boosted its holdings in STAAR Surgical by 78.3% in the third quarter. Larson Financial Group LLC now owns 4,863 shares of the medical instruments supplier’s stock worth $181,000 after acquiring an additional 2,135 shares in the last quarter. Hedge funds and other institutional investors 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.