STAAR Surgical (NASDAQ:STAA) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

STAAR Surgical Company (NASDAQ:STAA)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $23.39 and traded as high as $31.30. STAAR Surgical shares last traded at $31.21, with a volume of 639,690 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wall Street Zen lowered STAAR Surgical from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings upgraded STAAR Surgical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. Wedbush reissued an “outperform” rating and issued a $40.00 target price on shares of STAAR Surgical in a report on Friday, May 29th. Canaccord Genuity Group raised their price target on STAAR Surgical from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Finally, Mizuho boosted their price objective on shares of STAAR Surgical from $22.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $27.81.

STAAR Surgical Price Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.31 and a current ratio of 5.12. The company has a 50-day moving average of $28.85 and a 200-day moving average of $23.43. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -68.11 and a beta of 1.23.

STAAR Surgical (NASDAQ:STAA) last announced its earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. STAAR Surgical had a positive return on equity of 3.31% and a negative net margin of 7.24%.The firm had revenue of $93.52 million for the quarter, compared to analysts’ expectations of $78.72 million. During the same quarter in the prior year, the firm earned ($1.10) EPS. STAAR Surgical’s quarterly revenue was up 119.6% on a year-over-year basis. As a group, equities research analysts expect that STAAR Surgical Company will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. purchased a new stake in shares of STAAR Surgical during the third quarter worth about $48,729,000. Broadwood Capital Inc. lifted its stake in shares of STAAR Surgical by 11.1% during the fourth quarter. Broadwood Capital Inc. now owns 15,019,491 shares of the medical instruments supplier’s stock valued at $346,800,000 after buying an additional 1,500,000 shares during the period. Magnetar Financial LLC lifted its stake in shares of STAAR Surgical by 105.3% during the fourth quarter. Magnetar Financial LLC now owns 2,472,390 shares of the medical instruments supplier’s stock valued at $57,087,000 after buying an additional 1,268,019 shares during the period. Goldman Sachs Group Inc. boosted its position in STAAR Surgical by 112.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,076,743 shares of the medical instruments supplier’s stock worth $47,952,000 after acquiring an additional 1,100,484 shares during the last quarter. Finally, Defender Capital LLC. acquired a new stake in STAAR Surgical during the fourth quarter worth approximately $15,429,000. 96.70% of the stock is currently owned by hedge funds and other 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.