STAAR Surgical (NASDAQ:STAA) Stock Crosses Above 200 Day Moving Average – Should You Sell?

STAAR Surgical Company (NASDAQ:STAA)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $22.47 and traded as high as $27.86. STAAR Surgical shares last traded at $27.75, with a volume of 706,705 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wedbush raised their price target on shares of STAAR Surgical from $21.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Jefferies Financial Group lowered their price objective on shares of STAAR Surgical from $28.00 to $21.50 and set a “buy” rating for the company in a research note on Wednesday, January 28th. Wall Street Zen upgraded shares of STAAR Surgical to a “hold” rating in a report on Saturday, April 11th. Stifel Nicolaus reduced their price target on STAAR Surgical from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, March 4th. Finally, Morgan Stanley started coverage on STAAR Surgical in a research note on Friday, January 16th. They set an “underweight” rating and a $13.00 target price on the stock. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, STAAR Surgical currently has a consensus rating of “Hold” and a consensus price target of $19.93.

STAAR Surgical Stock Performance

The company’s 50-day moving average price is $21.41 and its 200 day moving average price is $22.47. The stock has a market capitalization of $1.38 billion, a PE ratio of -17.02 and a beta of 1.20.

STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings results on Tuesday, March 3rd. The medical instruments supplier reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.51). STAAR Surgical had a negative net margin of 33.60% and a negative return on equity of 10.03%. The company had revenue of $57.80 million for the quarter, compared to analysts’ expectations of $75.54 million. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. Analysts expect that STAAR Surgical Company will post -0.03 earnings per share for the current year.

Insider Buying and Selling at STAAR Surgical

In other news, Director Broadwood Partners, L.P. bought 316,017 shares of STAAR Surgical stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $18.61 per share, for a total transaction of $5,881,076.37. Following the acquisition, the director owned 16,123,842 shares of the company’s stock, valued at approximately $300,064,699.62. The trade was a 2.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders purchased 670,213 shares of company stock worth $12,266,249. 0.59% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On STAAR Surgical

Several hedge funds have recently made changes to their positions in the company. Amalgamated Bank boosted its position in shares of STAAR Surgical by 3.6% during the third quarter. Amalgamated Bank now owns 14,609 shares of the medical instruments supplier’s stock valued at $393,000 after purchasing an additional 514 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in STAAR Surgical by 58.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,669 shares of the medical instruments supplier’s stock worth $39,000 after purchasing an additional 614 shares in the last quarter. Invesco Ltd. lifted its position in STAAR Surgical by 0.6% during the third quarter. Invesco Ltd. now owns 150,896 shares of the medical instruments supplier’s stock valued at $4,055,000 after buying an additional 956 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of STAAR Surgical by 2.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 52,535 shares of the medical instruments supplier’s stock valued at $1,214,000 after buying an additional 1,234 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of STAAR Surgical by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,390 shares of the medical instruments supplier’s stock valued at $518,000 after buying an additional 1,267 shares in the last quarter. 96.70% of the stock is currently owned by institutional investors.

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. 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.