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STAAR Surgical (NASDAQ:STAA) Trading Down 6%

Financial News Live ·  Aug 17, 2022 21:01

STAAR Surgical (NASDAQ:STAA – Get Rating) dropped 6% during mid-day trading on Monday . The company traded as low as $104.70 and last traded at $104.85. Approximately 26,543 shares were traded during trading, a decline of 95% from the average daily volume of 482,678 shares. The stock had previously closed at $111.58.

Wall Street Analysts Forecast Growth

STAA has been the topic of a number of recent analyst reports. Benchmark increased their price target on shares of STAAR Surgical from $97.00 to $117.00 and gave the stock a "buy" rating in a report on Thursday, August 11th. Needham & Company LLC increased their price target on shares of STAAR Surgical from $87.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, August 11th. Canaccord Genuity Group increased their price target on shares of STAAR Surgical from $89.00 to $97.00 in a report on Thursday, August 11th. BTIG Research upped their price objective on shares of STAAR Surgical from $98.00 to $103.00 in a research report on Thursday, August 11th. Finally, Jefferies Financial Group reduced their price objective on shares of STAAR Surgical from $165.00 to $125.00 in a research report on Thursday, August 11th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $106.83.

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STAAR Surgical Stock Down 2.7 %

The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 152.28 and a beta of 1.09. The company's 50-day moving average is $77.11 and its 200-day moving average is $71.24.

STAAR Surgical (NASDAQ:STAA – Get Rating) last announced its earnings results on Wednesday, August 10th. The medical instruments supplier reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. STAAR Surgical had a net margin of 12.84% and a return on equity of 13.99%. The company had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.12 million. During the same quarter last year, the firm posted $0.19 earnings per share. STAAR Surgical's revenue was up 30.0% compared to the same quarter last year. Sell-side analysts anticipate that STAAR Surgical will post 0.65 EPS for the current year.

Insider Activity

In other news, CEO Caren L. Mason sold 35,000 shares of the firm's stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $57.49, for a total value of $2,012,150.00. Following the completion of the transaction, the chief executive officer now owns 83,645 shares of the company's stock, valued at $4,808,751.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in shares of STAAR Surgical by 0.6% in the first quarter. BlackRock Inc. now owns 5,654,613 shares of the medical instruments supplier's stock valued at $451,861,000 after purchasing an additional 31,657 shares during the period. Baillie Gifford & Co. lifted its stake in STAAR Surgical by 0.7% in the second quarter. Baillie Gifford & Co. now owns 5,285,358 shares of the medical instruments supplier's stock worth $374,890,000 after acquiring an additional 38,684 shares during the last quarter. Vanguard Group Inc. lifted its stake in STAAR Surgical by 2.5% in the first quarter. Vanguard Group Inc. now owns 5,093,250 shares of the medical instruments supplier's stock worth $407,001,000 after acquiring an additional 122,926 shares during the last quarter. State Street Corp lifted its stake in STAAR Surgical by 3.2% in the first quarter. State Street Corp now owns 1,570,063 shares of the medical instruments supplier's stock worth $125,464,000 after acquiring an additional 48,083 shares during the last quarter. Finally, Geneva Capital Management LLC lifted its stake in STAAR Surgical by 21.1% in the first quarter. Geneva Capital Management LLC now owns 909,877 shares of the medical instruments supplier's stock worth $72,708,000 after acquiring an additional 158,452 shares during the last quarter. Hedge funds and other institutional investors own 89.93% of the company's stock.

STAAR Surgical Company Profile

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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 Visian implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness.

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