STAAR Surgical (NASDAQ:STAA) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of STAAR Surgical Company (NASDAQ:STAA) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $23.14 and traded as high as $30.55. STAAR Surgical shares last traded at $29.99, with a volume of 557,282 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wedbush reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of STAAR Surgical in a research note on Friday, May 29th. Mizuho raised their price objective on STAAR Surgical from $22.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Stifel Nicolaus lifted their target price on STAAR Surgical from $18.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, May 14th. Weiss Ratings lowered STAAR Surgical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 22nd. Finally, Wells Fargo & Company boosted their price objective on STAAR Surgical from $16.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, May 15th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $27.81.

STAAR Surgical Stock Performance

The business has a fifty day simple moving average of $26.58 and a two-hundred day simple moving average of $23.14. The company has a quick ratio of 4.31, a current ratio of 5.12 and a debt-to-equity ratio of 0.09. The company has a market cap of $1.49 billion, a P/E ratio of -69.74 and a beta of 1.23.

STAAR Surgical (NASDAQ:STAA) last released its earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.05. The firm had revenue of $93.52 million during the quarter, compared to analysts’ expectations of $78.72 million. STAAR Surgical had a positive return on equity of 3.31% and a negative net margin of 7.24%.The firm’s revenue was up 119.6% on a year-over-year basis. During the same quarter last year, the business posted ($1.10) earnings per share. On average, sell-side analysts anticipate that STAAR Surgical Company will post 0.13 EPS for the current year.

Insider Activity

In other news, Director Broadwood Partners, L.P. bought 316,017 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was acquired at an average cost of $18.61 per share, with a total value of $5,881,076.37. Following the transaction, the director directly owned 16,123,842 shares in the company, valued at approximately $300,064,699.62. This trade represents a 2.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders purchased 670,213 shares of company stock worth $12,266,249. 39.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Balyasny Asset Management L.P. purchased a new position in STAAR Surgical during the 3rd quarter worth $48,729,000. Broadwood Capital Inc. grew its stake in STAAR Surgical by 11.1% during the 4th quarter. Broadwood Capital Inc. now owns 15,019,491 shares of the medical instruments supplier’s stock valued at $346,800,000 after purchasing an additional 1,500,000 shares during the last quarter. Magnetar Financial LLC lifted its holdings in shares of STAAR Surgical by 105.3% in the 4th quarter. Magnetar Financial LLC now owns 2,472,390 shares of the medical instruments supplier’s stock valued at $57,087,000 after buying an additional 1,268,019 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of STAAR Surgical by 112.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,076,743 shares of the medical instruments supplier’s stock valued at $47,952,000 after buying an additional 1,100,484 shares during the period. Finally, Alpine Associates Management Inc. acquired a new position in shares of STAAR Surgical in the 3rd quarter valued at about $24,535,000. 96.70% of the stock is currently owned by hedge funds and other 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.