STAAR Surgical (NASDAQ:STAA) Trading 8.6% Higher

STAAR Surgical (NASDAQ:STAA) shares were up 8.6% during trading on Wednesday . The company traded as high as $47.71 and last traded at $45.98. Approximately 545,899 shares changed hands during trading, a decline of 16% from the average daily volume of 651,469 shares. The stock had previously closed at $42.32.

Analysts Set New Price Targets

A number of analysts have commented on STAA shares. Mizuho boosted their target price on STAAR Surgical from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Stifel Nicolaus restated a “buy” rating and issued a $50.00 price objective on shares of STAAR Surgical in a research report on Monday, April 1st. Canaccord Genuity Group reduced their price objective on STAAR Surgical from $46.00 to $43.00 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. Piper Sandler upped their price objective on STAAR Surgical from $33.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Finally, BTIG Research upgraded STAAR Surgical from a “neutral” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Tuesday, June 11th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $47.00.

STAAR Surgical Trading Up 4.0 %

The business has a 50 day simple moving average of $42.89 and a two-hundred day simple moving average of $37.34. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 144.16 and a beta of 0.65.

STAAR Surgical (NASDAQ:STAA) last released its earnings results on Tuesday, May 7th. The medical instruments supplier reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). STAAR Surgical had a return on equity of 6.83% and a net margin of 4.69%. The firm had revenue of $77.40 million for the quarter, compared to the consensus estimate of $75.34 million. During the same period in the prior year, the business earned $0.05 EPS. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Research analysts anticipate that STAAR Surgical will post 0.08 EPS for the current fiscal year.

Institutional Trading of STAAR Surgical

Several hedge funds have recently made changes to their positions in the stock. Broadwood Capital Inc. increased its position in STAAR Surgical by 13.7% in the 4th quarter. Broadwood Capital Inc. now owns 10,537,835 shares of the medical instruments supplier’s stock valued at $328,886,000 after acquiring an additional 1,273,408 shares during the period. Vanguard Group Inc. increased its position in STAAR Surgical by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,468,710 shares of the medical instruments supplier’s stock valued at $170,678,000 after acquiring an additional 43,083 shares during the period. Defender Capital LLC. increased its position in STAAR Surgical by 1.1% in the 1st quarter. Defender Capital LLC. now owns 730,387 shares of the medical instruments supplier’s stock valued at $27,959,000 after acquiring an additional 7,855 shares during the period. Yunqi Capital Ltd increased its position in STAAR Surgical by 162.0% in the 1st quarter. Yunqi Capital Ltd now owns 515,300 shares of the medical instruments supplier’s stock valued at $19,726,000 after acquiring an additional 318,600 shares during the period. Finally, Norges Bank acquired a new position in shares of STAAR Surgical during the 4th quarter valued at $13,615,000. Institutional investors 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.