Staar Surgical Co. (STAA) Trading 5.3% Higher
Staar Surgical Co. (NASDAQ:STAA) traded up 5.3% during mid-day trading on Monday . The company traded as high as $6.37 and last traded at $6.31, with a volume of 122,254 shares traded. The stock had previously closed at $5.99.
A number of equities research analysts recently issued reports on the stock. Benchmark Co. upgraded shares of Staar Surgical from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a report on Wednesday, May 18th. Canaccord Genuity reiterated a “hold” rating and issued a $7.00 price objective on shares of Staar Surgical in a report on Thursday, May 12th. Stephens cut shares of Staar Surgical from an “overweight” rating to an “equal weight” rating in a report on Thursday, May 12th. Finally, Zacks Investment Research cut shares of Staar Surgical from a “buy” rating to a “hold” rating in a report on Thursday, March 17th.
The stock’s market capitalization is $253.57 million. The stock’s 50 day moving average price is $5.58 and its 200-day moving average price is $6.60.
Staar Surgical (NASDAQ:STAA) last posted its quarterly earnings data on Wednesday, May 11th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.16. The business earned $19.30 million during the quarter, compared to the consensus estimate of $19.60 million. During the same period in the prior year, the firm earned ($0.06) EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts predict that Staar Surgical Co. will post ($0.30) EPS for the current fiscal year.
In other Staar Surgical news, Director Richard A. Meier sold 25,000 shares of the business’s 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 sale, the director now owns 27,149 shares of the company’s stock, valued at approximately $145,247.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Broadwood Partners Lp acquired 336,210 shares of the business’s stock in a transaction on Monday, May 16th. The stock was acquired at an average cost of $5.49 per share, with a total value of $1,845,792.90. 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 boosted its stake in shares of Staar Surgical Co. (NASDAQ:STAA) by 0.6% during the fourth quarter, according to its most recent disclosure with the SEC. 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 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.