Staar Surgical Co. (STAA) Trading 27.5% Higher
Shares of Staar Surgical Co. (NASDAQ:STAA) traded up 27.5% on Thursday . The company traded as high as $8.60 and last traded at $8.45, with a volume of 300,553 shares traded. The stock had previously closed at $6.63.
A number of analysts recently weighed in on the stock. William Blair restated a “market perform” rating on shares of Staar Surgical in a research note on Thursday. Benchmark Co. upgraded shares of Staar Surgical from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a research note on Wednesday, May 18th. Zacks Investment Research upgraded shares of Staar Surgical from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a research note on Saturday. Stephens lowered shares of Staar Surgical from an “overweight” rating to an “equal weight” rating in a research note on Thursday, May 12th. Finally, Canaccord Genuity restated a “hold” rating and set a $7.00 target price on shares of Staar Surgical in a research note on Thursday, May 12th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $7.50.
The company’s 50-day moving average is $6.21 and its 200 day moving average is $6.58. The company’s market cap is $340.78 million.
Staar Surgical (NASDAQ:STAA) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The business earned $21 million during the quarter, compared to analysts’ expectations of $19.88 million. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. Equities research analysts anticipate that Staar Surgical Co. will post ($0.31) EPS for the current fiscal year.
In other news, major shareholder Broadwood Partners Lp acquired 77,842 shares of Staar Surgical stock in a transaction dated Wednesday, May 25th. The shares were acquired at an average cost of $5.16 per share, with a total value of $401,664.72. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard A. Meier sold 25,000 shares of Staar Surgical stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $5.35, for a total value of $133,750.00. Following the completion of the transaction, the director now directly owns 27,149 shares in the company, valued at $145,247.15. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Staar Surgical stock. Mutual of America Capital Management LLC boosted its stake in shares of Staar Surgical Co. (NASDAQ:STAA) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,682 shares of the company’s stock after buying an additional 1,299 shares during the period. Mutual of America Capital Management LLC owned about 0.54% of Staar Surgical worth $1,547,000 at the end of the most recent quarter.
STAAR Surgical Company designs, develops, manufactures and sells implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. The Company operates in the ophthalmic surgical market segment. Its principal products are intraocular lenses (IOLs) used in cataract surgery and implantable collamer lenses (ICLs) used in refractive surgery.
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