Staar Surgical Co. (STAA) Sees Large Volume Increase
Staar Surgical Co. (NASDAQ:STAA) saw unusually-strong trading volume on Friday . Approximately 132,528 shares traded hands during mid-day trading, an increase of 58% from the previous session’s volume of 83,963 shares.The stock last traded at $8.35 and had previously closed at $8.24.
Several equities research analysts recently commented on STAA shares. Benchmark Co. raised shares of Staar Surgical from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a report on Wednesday, May 18th. Stephens lowered shares of Staar Surgical from an “overweight” rating to an “equal weight” rating in a report on Thursday, May 12th. Zacks Investment Research raised shares of Staar Surgical from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 13th. William Blair reissued a “market perform” rating on shares of Staar Surgical in a report on Thursday. Finally, Canaccord Genuity reissued a “hold” rating and issued a $7.00 price target on shares of Staar Surgical in a report on Thursday, May 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $7.50.
The firm’s market cap is $342.85 million. The stock has a 50 day moving average of $6.21 and a 200 day moving average of $6.58.
Staar Surgical (NASDAQ:STAA) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.05) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). The firm earned $21 million during the quarter, compared to analyst estimates of $19.88 million. Staar Surgical’s quarterly revenue was up 12.4% compared to the same quarter last year. Equities analysts forecast that Staar Surgical Co. will post ($0.31) earnings per share for the current year.
In related news, Director Richard A. Meier sold 25,000 shares of the stock in a transaction on Friday, May 20th. The stock was sold at an average price of $5.35, for a total transaction of $133,750.00. Following the completion of the sale, the director now directly owns 27,149 shares of the company’s stock, valued at $145,247.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Broadwood Partners Lp purchased 9,313 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The shares were bought at an average cost of $5.23 per share, with a total value of $48,706.99. The disclosure for this purchase can be found here.
An institutional investor recently raised its position in Staar Surgical stock. Mutual of America Capital Management LLC increased its stake in Staar Surgical Co. (NASDAQ:STAA) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 0.54% of Staar Surgical worth $1,547,000 as of its most recent SEC filing.
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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