Staar Surgical Co. (STAA) Sees Large Volume Increase
Shares of Staar Surgical Co. (NASDAQ:STAA) saw unusually-high trading volume on Monday . Approximately 134,524 shares traded hands during trading, an increase of 11% from the previous session’s volume of 121,040 shares.The stock last traded at $9.06 and had previously closed at $9.08.
STAA has been the subject of a number of research reports. Canaccord Genuity restated a “hold” rating and set a $7.00 target price on shares of Staar Surgical in a report on Thursday, May 12th. Zacks Investment Research cut shares of Staar Surgical from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Stephens cut shares of Staar Surgical from an “overweight” rating to an “equal weight” rating in a report on Thursday, May 12th. Benchmark Co. upgraded shares of Staar Surgical from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research report on Wednesday, May 18th. Finally, William Blair restated a “market perform” rating on shares of Staar Surgical in a research report on Thursday, August 4th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $7.50.
The stock has a 50 day moving average price of $7.27 and a 200-day moving average price of $6.75. The company’s market capitalization is $371.97 million.
Staar Surgical (NASDAQ:STAA) last announced its 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 company earned $21 million during the quarter, compared to the consensus estimate of $19.88 million. The firm’s revenue was up 12.4% compared to the same quarter last year. Analysts expect that Staar Surgical Co. will post ($0.31) earnings per share for the current year.
In related news, major shareholder Broadwood Partners Lp bought 70,000 shares of the company’s stock in a transaction on Tuesday, May 24th. The stock was bought at an average cost of $5.16 per share, with a total value of $361,200.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
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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