STAAR Surgical (NASDAQ:STAA) Trading Up 8.4% – Should You Buy?

STAAR Surgical Company (NASDAQ:STAA)’s stock price traded up 8.4% on Tuesday . The company traded as high as $19.54 and last traded at $19.7280. 1,252,896 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 1,531,507 shares. The stock had previously closed at $18.20.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company increased their price target on STAAR Surgical from $28.00 to $30.75 and gave the company an “equal weight” rating in a report on Wednesday, December 10th. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. Canaccord Genuity Group dropped their price target on shares of STAAR Surgical from $30.75 to $22.00 and set a “hold” rating for the company in a research note on Thursday, January 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of STAAR Surgical in a report on Thursday, January 22nd. Finally, Stifel Nicolaus dropped their price target on shares of STAAR Surgical from $28.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, February 9th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $20.91.

STAAR Surgical Stock Up 6.0%

The firm has a market capitalization of $959.73 million, a price-to-earnings ratio of -9.93 and a beta of 1.06. The business’s fifty day moving average is $20.57 and its 200 day moving average is $24.53.

Insider Transactions at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. purchased 27,485 shares of STAAR Surgical stock in a transaction on Friday, January 9th. The stock was purchased at an average price of $22.05 per share, with a total value of $606,044.25. Following the transaction, the insider directly owned 15,453,629 shares in the company, valued at $340,752,519.45. The trade was a 0.18% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders purchased 434,138 shares of company stock valued at $9,424,176. 0.59% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On STAAR Surgical

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd raised its position in STAAR Surgical by 2,605.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock valued at $28,000 after purchasing an additional 1,016 shares during the last quarter. CWM LLC increased its stake in shares of STAAR Surgical by 74.1% in the second quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier’s stock valued at $26,000 after buying an additional 665 shares during the period. GAMMA Investing LLC raised its holdings in STAAR Surgical by 61.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock valued at $50,000 after buying an additional 706 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in STAAR Surgical by 691.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the medical instruments supplier’s stock worth $61,000 after buying an additional 3,151 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in STAAR Surgical by 9,928.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock worth $121,000 after acquiring an additional 4,468 shares during the last quarter. 96.70% of the stock is owned by 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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.