Staar Surgical Co. (STAA) Shares Down 2.1%
Staar Surgical Co. (NASDAQ:STAA)’s share price was down 2.1% during mid-day trading on Thursday . The stock traded as low as $8.92 and last traded at $8.97, with a volume of 51,738 shares changing hands. The stock had previously closed at $9.16.
Several equities analysts have issued reports on STAA shares. Benchmark Co. raised shares of Staar Surgical from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a report on Wednesday, May 18th. Stephens downgraded 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 research note on Thursday, August 4th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $7.00 price target on shares of Staar Surgical in a research note on Thursday, May 12th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $7.50.
The firm has a 50-day moving average of $6.97 and a 200-day moving average of $6.69. The firm’s market cap is $364.28 million.
Staar Surgical (NASDAQ:STAA) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). The business earned $21 million during the quarter, compared to analyst estimates of $19.88 million. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, analysts anticipate that Staar Surgical Co. will post ($0.31) EPS for the current year.
In other news, major shareholder Broadwood Partners Lp acquired 70,000 shares of the company’s stock in a transaction on Tuesday, May 24th. The shares were bought at an average cost of $5.16 per share, with a total value of $361,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard A. Meier sold 25,000 shares of the business’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 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 raised its stake in Staar Surgical Co. (NASDAQ:STAA) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 as of its most recent filing with the SEC.
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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