Investors Buy Large Volume of Put Options on STAAR Surgical (NASDAQ:STAA)

STAAR Surgical Company (NASDAQ:STAA) was the recipient of some unusual options trading activity on Tuesday. Stock traders bought 5,565 put options on the company. This represents an increase of 401% compared to the average volume of 1,111 put options.

STAAR Surgical Stock Down 5.5%

STAAR Surgical stock opened at $23.99 on Thursday. The business’s 50-day simple moving average is $26.23 and its 200 day simple moving average is $23.49. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -12.30 and a beta of 1.01. STAAR Surgical has a 12-month low of $13.50 and a 12-month high of $30.81.

Insiders Place Their Bets

In other news, major shareholder Broadwood Partners, L.P. acquired 797,486 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was bought at an average price of $27.86 per share, with a total value of $22,217,959.96. Following the completion of the acquisition, the insider owned 15,019,491 shares in the company, valued at approximately $418,443,019.26. This represents a 5.61% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have bought 1,500,000 shares of company stock worth $41,061,615 over the last quarter. 0.59% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On STAAR Surgical

Several institutional investors have recently modified their holdings of STAA. Amalgamated Bank raised its stake 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 worth $393,000 after buying an additional 514 shares during the last quarter. CWM LLC grew its holdings in STAAR Surgical by 74.1% during the 2nd quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier’s stock worth $26,000 after acquiring an additional 665 shares during the period. GAMMA Investing LLC grew its holdings in STAAR Surgical by 61.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock worth $50,000 after acquiring an additional 706 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of STAAR Surgical by 7.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,711 shares of the medical instruments supplier’s stock valued at $213,000 after acquiring an additional 923 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of STAAR Surgical by 4.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 22,168 shares of the medical instruments supplier’s stock valued at $396,000 after purchasing an additional 934 shares during the period. Institutional investors and hedge funds own 96.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on STAA. Weiss Ratings reaffirmed a “sell (d)” rating on shares of STAAR Surgical in a report on Wednesday, October 8th. Canaccord Genuity Group increased their target price on STAAR Surgical from $28.00 to $30.75 and gave the stock a “hold” rating in a report on Tuesday. Wells Fargo & Company lifted their price target on STAAR Surgical from $28.00 to $30.75 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Piper Sandler reiterated a “neutral” rating on shares of STAAR Surgical in a research report on Monday, October 27th. Ten research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $23.42.

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.