STAAR Surgical (NASDAQ:STAA) Trading 5.9% Higher – Time to Buy?

Shares of STAAR Surgical (NASDAQ:STAA) were up 5.9% during mid-day trading on Tuesday . The stock traded as high as $25.44 and last traded at $25.35. Approximately 192,893 shares traded hands during trading, a decline of 72% from the average daily volume of 700,001 shares. The stock had previously closed at $23.93.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on STAA. Stephens raised STAAR Surgical to a “hold” rating in a research report on Monday, December 2nd. Stifel Nicolaus cut their price objective on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a report on Thursday, October 31st. Finally, Canaccord Genuity Group cut their target price on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $42.83.

STAAR Surgical Price Performance

The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 56.48 and a beta of 0.59. The business’s 50 day moving average is $28.43 and its 200 day moving average is $34.63.

Insider Transactions at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. bought 23,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average price of $24.33 per share, for a total transaction of $559,590.00. Following the completion of the purchase, the insider now directly owns 10,848,631 shares in the company, valued at $263,947,192.23. This trade represents a 0.21 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Trading of STAAR Surgical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STAA. Granite Investment Partners LLC purchased a new position in STAAR Surgical during the 2nd quarter worth approximately $17,237,000. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of STAAR Surgical by 50.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 592,621 shares of the medical instruments supplier’s stock worth $28,215,000 after acquiring an additional 197,717 shares during the last quarter. American Capital Management Inc. increased its holdings in shares of STAAR Surgical by 42.9% in the 3rd quarter. American Capital Management Inc. now owns 512,813 shares of the medical instruments supplier’s stock valued at $19,051,000 after acquiring an additional 154,037 shares during the period. Dimensional Fund Advisors LP raised its position in STAAR Surgical by 25.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 459,655 shares of the medical instruments supplier’s stock valued at $21,884,000 after purchasing an additional 94,422 shares during the last quarter. Finally, Roubaix Capital LLC acquired a new stake in STAAR Surgical during the 2nd quarter worth $4,293,000. Institutional investors and hedge funds own 96.70% of the company’s stock.

About STAAR Surgical

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.