Staar Surgical Co. (STAA) Trading 27.5% Higher
Staar Surgical Co. (NASDAQ:STAA)’s share price traded up 27.5% during trading 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 equities analysts recently commented on the stock. William Blair reiterated a “market perform” rating on shares of Staar Surgical in a research report 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 report on Wednesday, May 18th. Zacks Investment Research upgraded shares of Staar Surgical from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Stephens cut shares of Staar Surgical from an “overweight” rating to an “equal weight” rating in a research report on Thursday, May 12th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $7.00 target price on shares of Staar Surgical in a research report on Thursday, May 12th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $6.50.
The stock’s market cap is $331.13 million. The stock has a 50 day moving average price of $6.06 and a 200 day moving average price of $6.55.
Staar Surgical (NASDAQ:STAA) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.05) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.05). The firm earned $21 million during the quarter, compared to the consensus estimate of $19.88 million. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, equities research analysts expect that Staar Surgical Co. will post ($0.30) earnings per share for the current year.
In related news, Director Richard A. Meier sold 25,000 shares of the company’s stock in a transaction on Friday, May 20th. The shares were sold at an average price of $5.35, for a total transaction of $133,750.00. Following the completion of the transaction, the director now owns 27,149 shares in the company, valued at $145,247.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Broadwood Partners Lp bought 14,144 shares of the company’s stock in a transaction that occurred on Wednesday, June 29th. The shares were bought at an average price of $5.24 per share, with a total value of $74,114.56. 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 position 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 (SEC). The firm 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 approximately 0.54% of Staar Surgical worth $1,547,000 at the end of the most recent reporting period.
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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