STAAR Surgical (NASDAQ:STAA) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

STAAR Surgical Company (NASDAQ:STAA) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $22.48 and traded as high as $25.75. STAAR Surgical shares last traded at $24.92, with a volume of 462,129 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on STAA shares. Morgan Stanley started coverage on STAAR Surgical in a research note on Friday, January 16th. They set an “underweight” rating and a $13.00 price target on the stock. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. Weiss Ratings lowered STAAR Surgical from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. Wall Street Zen upgraded STAAR Surgical to a “hold” rating in a research note on Saturday, April 11th. Finally, Wells Fargo & Company lowered their price target on STAAR Surgical from $30.75 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 5th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, STAAR Surgical presently has an average rating of “Hold” and an average price target of $19.93.

STAAR Surgical Price Performance

The stock has a market capitalization of $1.23 billion, a P/E ratio of -15.24 and a beta of 1.04. The firm has a 50 day moving average of $20.09 and a 200-day moving average of $22.51.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings results on Tuesday, March 3rd. The medical instruments supplier reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.51). STAAR Surgical had a negative net margin of 33.60% and a negative return on equity of 10.03%. The firm had revenue of $57.80 million for the quarter, compared to the consensus estimate of $75.54 million. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. As a group, equities analysts expect that STAAR Surgical Company will post -0.03 earnings per share for the current year.

Insider Activity

In related news, Director Broadwood Partners, L.P. bought 316,017 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was acquired at an average cost of $18.61 per share, with a total value of $5,881,076.37. Following the acquisition, the director owned 16,123,842 shares in the company, valued at approximately $300,064,699.62. This represents a 2.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders purchased 670,213 shares of company stock valued at $12,266,249. Corporate insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

A number of hedge funds have recently modified their holdings of STAA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of STAAR Surgical by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,390 shares of the medical instruments supplier’s stock worth $518,000 after buying an additional 1,267 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of STAAR Surgical by 33.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 544,843 shares of the medical instruments supplier’s stock worth $9,606,000 after buying an additional 136,390 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of STAAR Surgical by 11.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,347 shares of the medical instruments supplier’s stock worth $2,175,000 after buying an additional 12,841 shares in the last quarter. Creative Planning raised its holdings in shares of STAAR Surgical by 19.9% in the 2nd quarter. Creative Planning now owns 15,695 shares of the medical instruments supplier’s stock worth $263,000 after buying an additional 2,606 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of STAAR Surgical by 183.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 153,371 shares of the medical instruments supplier’s stock worth $2,574,000 after buying an additional 99,218 shares in the last quarter. 96.70% of the stock is owned by institutional investors and hedge funds.

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.