STAAR Surgical (NASDAQ:STAA – Get Free Report) gapped down before the market opened on Friday after Needham & Company LLC lowered their price target on the stock from $54.00 to $52.00. The stock had previously closed at $42.87, but opened at $41.95. STAAR Surgical shares last traded at $42.25, with a volume of 81,903 shares traded.
A number of other equities analysts have also recently commented on STAA. Stifel Nicolaus reissued a “hold” rating and set a $45.00 price target on shares of STAAR Surgical in a report on Wednesday. Canaccord Genuity Group reissued a “hold” rating and set a $48.00 target price (down previously from $77.00) on shares of STAAR Surgical in a research note on Thursday, August 3rd. StockNews.com downgraded shares of STAAR Surgical from a “hold” rating to a “sell” rating in a research note on Thursday. Piper Sandler lowered their price objective on shares of STAAR Surgical from $50.00 to $45.00 in a research report on Friday. Finally, Benchmark lowered shares of STAAR Surgical from a “buy” rating to a “hold” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $59.00.
Insider Activity
In related news, Director Aimee S. Weisner acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were bought at an average cost of $48.72 per share, with a total value of $97,440.00. Following the completion of the purchase, the director now directly owns 5,417 shares in the company, valued at $263,916.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other STAAR Surgical news, Director Aimee S. Weisner acquired 2,000 shares of the stock in a transaction dated Monday, August 7th. The stock was purchased at an average cost of $48.72 per share, with a total value of $97,440.00. Following the transaction, the director now owns 5,417 shares in the company, valued at approximately $263,916.24. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Broadwood Partners, L.P. acquired 20,144 shares of the company’s stock in a transaction dated Tuesday, September 5th. The stock was acquired at an average cost of $41.87 per share, for a total transaction of $843,429.28. Following the completion of the purchase, the insider now directly owns 8,803,226 shares in the company, valued at $368,591,072.62. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 83,018 shares of company stock valued at $3,452,531. Company insiders own 1.10% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates grew its stake in shares of STAAR Surgical by 25.7% in the 4th quarter. Raymond James & Associates now owns 19,318 shares of the medical instruments supplier’s stock worth $938,000 after acquiring an additional 3,945 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in STAAR Surgical in the 1st quarter valued at about $1,544,000. Victory Capital Management Inc. lifted its position in shares of STAAR Surgical by 2.9% during the 4th quarter. Victory Capital Management Inc. now owns 104,938 shares of the medical instruments supplier’s stock worth $5,322,000 after buying an additional 3,003 shares in the last quarter. Sit Investment Associates Inc. boosted its stake in shares of STAAR Surgical by 7.5% in the 4th quarter. Sit Investment Associates Inc. now owns 31,830 shares of the medical instruments supplier’s stock worth $1,545,000 after buying an additional 2,215 shares during the last quarter. Finally, Dark Forest Capital Management LP increased its position in shares of STAAR Surgical by 12,057.5% during the fourth quarter. Dark Forest Capital Management LP now owns 9,726 shares of the medical instruments supplier’s stock valued at $472,000 after acquiring an additional 9,646 shares during the last quarter. Institutional investors own 96.70% of the company’s stock.
STAAR Surgical Stock Performance
The stock has a market cap of $2.06 billion, a P/E ratio of 85.74 and a beta of 1.09. The business has a 50 day simple moving average of $47.83 and a 200-day simple moving average of $55.99.
STAAR Surgical (NASDAQ:STAA – Get Free Report) last posted its quarterly earnings results on Wednesday, August 2nd. The medical instruments supplier reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. The company had revenue of $92.31 million during the quarter, compared to analyst estimates of $93.04 million. STAAR Surgical had a net margin of 8.14% and a return on equity of 8.37%. On average, sell-side analysts predict that STAAR Surgical will post 0.52 earnings per share for the current fiscal year.
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 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.