STAAR Surgical (NASDAQ:STAA) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

STAAR Surgical Company (NASDAQ:STAA)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $23.39 and traded as high as $31.30. STAAR Surgical shares last traded at $31.21, with a volume of 639,690 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on STAA. Stifel Nicolaus raised their price objective on shares of STAAR Surgical from $18.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, May 14th. Wall Street Zen raised shares of STAAR Surgical from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings lowered shares of STAAR Surgical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 22nd. Wedbush restated an “outperform” rating and issued a $40.00 price target on shares of STAAR Surgical in a research report on Friday, May 29th. Finally, Canaccord Genuity Group raised their price target on shares of STAAR Surgical from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $27.81.

STAAR Surgical Price Performance

The business has a 50-day simple moving average of $28.76 and a 200 day simple moving average of $23.39. The stock has a market cap of $1.55 billion, a P/E ratio of -72.58 and a beta of 1.23. The company has a current ratio of 5.12, a quick ratio of 4.31 and a debt-to-equity ratio of 0.09.

STAAR Surgical (NASDAQ:STAA) last issued its quarterly earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share 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 during the quarter, compared to analysts’ expectations of $78.72 million. During the same quarter in the prior year, the firm posted ($1.10) earnings per share. The business’s quarterly revenue was up 119.6% on a year-over-year basis. On average, analysts forecast that STAAR Surgical Company will post 0.13 earnings per share for the current year.

Institutional Trading of STAAR Surgical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STAA. Caitong International Asset Management Co. Ltd raised its holdings in STAAR Surgical by 2,605.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock worth $28,000 after purchasing an additional 1,016 shares during the last quarter. Ascentis Independent Advisors acquired a new stake in shares of STAAR Surgical during the first quarter worth $77,000. Russell Investments Group Ltd. increased its position in shares of STAAR Surgical by 9,928.9% during the third 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 period. Tower Research Capital LLC TRC raised 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. Finally, CIBC Bancorp USA Inc. bought a new position in STAAR Surgical during the third quarter worth $208,000. Institutional investors and hedge funds 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.