STAAR Surgical (NASDAQ:STAA) Stock Price Up 6.7% – Time to Buy?

STAAR Surgical Company (NASDAQ:STAA) shares were up 6.7% during mid-day trading on Wednesday . The company traded as high as $24.20 and last traded at $24.1750. Approximately 444,377 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 1,194,839 shares. The stock had previously closed at $22.66.

Analyst Ratings Changes

Several research analysts recently weighed in on STAA shares. Stifel Nicolaus upped their target price on shares of STAAR Surgical from $18.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, May 14th. Wells Fargo & Company boosted their price target on STAAR Surgical from $16.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, May 15th. Wall Street Zen upgraded shares of STAAR Surgical from a “hold” rating to a “buy” rating in a research note on Sunday, July 5th. UBS Group began coverage on shares of STAAR Surgical in a report on Tuesday. They set a “sell” rating and a $20.00 price objective for the company. Finally, Piper Sandler raised their price objective on STAAR Surgical from $16.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $26.94.

STAAR Surgical Stock Up 1.5%

The company has a current ratio of 5.12, a quick ratio of 4.31 and a debt-to-equity ratio of 0.09. The firm has a market cap of $1.21 billion, a P/E ratio of -56.32 and a beta of 1.23. The business has a 50-day moving average price of $28.11 and a 200-day moving average price of $23.88.

STAAR Surgical (NASDAQ:STAA) last posted its earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.05. STAAR Surgical had a positive return on equity of 3.31% and a negative net margin of 7.24%.The company had revenue of $93.52 million for the quarter, compared to analyst estimates of $78.72 million. During the same quarter in the previous year, the firm earned ($1.10) earnings per share. The firm’s quarterly revenue was up 119.6% compared to the same quarter last year. On average, equities analysts forecast that STAAR Surgical Company will post 0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in STAA. Caitong International Asset Management Co. Ltd raised its position in shares of STAAR Surgical by 2,605.1% in the third 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. Ascentis Independent Advisors purchased a new stake in STAAR Surgical during the 1st quarter valued at about $77,000. Tower Research Capital LLC TRC boosted its stake in STAAR Surgical by 375.0% during the second quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock worth $99,000 after buying an additional 4,673 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of STAAR Surgical by 9,928.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock worth $121,000 after buying an additional 4,468 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of STAAR Surgical by 2,867.1% in the 1st quarter. Fifth Third Bancorp now owns 11,008 shares of the medical instruments supplier’s stock valued at $206,000 after purchasing an additional 10,637 shares during the last quarter. Hedge funds and other 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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.