STAAR Surgical (NASDAQ:STAA) Shares Gap Up – Time to Buy?

STAAR Surgical Company (NASDAQ:STAA)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $23.56, but opened at $24.48. STAAR Surgical shares last traded at $24.6150, with a volume of 212,526 shares traded.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Piper Sandler reaffirmed a “neutral” rating on shares of STAAR Surgical in a research note on Monday, October 27th. Weiss Ratings reissued a “sell (d)” rating on shares of STAAR Surgical in a report on Wednesday, October 8th. Canaccord Genuity Group boosted their price objective on shares of STAAR Surgical from $28.00 to $30.75 and gave the stock a “hold” rating in a research report on Tuesday, December 9th. Finally, Wells Fargo & Company increased their price objective on shares of STAAR Surgical from $28.00 to $30.75 and gave the company an “equal weight” rating in a research note on Wednesday, December 10th. Ten investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, STAAR Surgical has a consensus rating of “Reduce” and an average price target of $23.42.

STAAR Surgical Trading Up 4.0%

The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -12.57 and a beta of 1.01. The firm’s 50 day moving average is $26.05 and its two-hundred day moving average is $23.65.

Insider Transactions at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. purchased 797,486 shares of the business’s stock in a transaction on Friday, November 21st. The stock was bought at an average cost of $27.86 per share, for a total transaction of $22,217,959.96. Following the acquisition, the insider owned 15,019,491 shares of the company’s stock, valued at approximately $418,443,019.26. The trade was a 5.61% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders have purchased a total of 1,500,000 shares of company stock worth $41,061,615 in the last quarter. 0.59% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On STAAR Surgical

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC lifted its position in STAAR Surgical by 74.1% during the second quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier’s stock worth $26,000 after buying an additional 665 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of STAAR Surgical by 2,605.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock worth $28,000 after acquiring an additional 1,016 shares during the period. US Bancorp DE lifted its holdings in shares of STAAR Surgical by 1,693.0% during the 1st quarter. US Bancorp DE now owns 2,044 shares of the medical instruments supplier’s stock worth $36,000 after acquiring an additional 1,930 shares during the period. Brooklyn Investment Group boosted its position in shares of STAAR Surgical by 1,564.0% in the first quarter. Brooklyn Investment Group now owns 2,679 shares of the medical instruments supplier’s stock worth $47,000 after acquiring an additional 2,518 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in STAAR Surgical by 61.4% in the third quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock valued at $50,000 after purchasing an additional 706 shares during the period. Hedge funds and other institutional investors own 96.70% of the company’s stock.

STAAR Surgical Company Profile

STAAR Surgical Company, together with its subsidiaries, designs, develops, manufactures, markets, and sells implantable lenses for the eye, and companion delivery systems to deliver the lenses into the eye. The company provides implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia.