STAAR Surgical (NASDAQ:STAA) Share Price Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• STAAR Surgical's share price has surpassed its 200-day moving average, closing at $26.69 after reaching a high of $26.78.
• Equities analysts have issued mixed ratings on STAAR Surgical, with a consensus price target of $20.67 and ratings ranging from "hold" to "sell."
• Institutional investors currently hold 96.70% of STAAR Surgical's stock, with significant increases in ownership from several hedge funds in recent quarters.

STAAR Surgical Company (NASDAQ:STAA - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $21.35 and traded as high as $26.78. STAAR Surgical shares last traded at $26.69, with a volume of 1,570,875 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on STAA shares. Weiss Ratings restated a "sell (d)" rating on shares of STAAR Surgical in a research note on Wednesday, October 8th. Canaccord Genuity Group restated a "hold" rating and set a $28.00 price objective on shares of STAAR Surgical in a research note on Tuesday. Stifel Nicolaus set a $28.00 price objective on STAAR Surgical and gave the company a "hold" rating in a research note on Thursday, August 7th. Finally, Mizuho lifted their target price on STAAR Surgical from $17.00 to $18.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Ten investment 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 stock has an average rating of "Reduce" and a consensus price target of $20.67.

STAAR Surgical Stock Performance

The firm has a market cap of $1.32 billion, a P/E ratio of -13.83 and a beta of 0.82. The firm has a fifty day moving average of $27.18 and a 200-day moving average of $21.35.

Hedge Funds Weigh In On STAAR Surgical

Several hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of STAAR Surgical by 75.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 21,234 shares of the medical instruments supplier's stock worth $374,000 after acquiring an additional 9,125 shares during the last quarter. Pinnacle Investment Management Ltd acquired a new position in shares of STAAR Surgical in the 1st quarter worth $1,155,000. Strs Ohio acquired a new position in shares of STAAR Surgical in the 1st quarter worth $190,000. Assenagon Asset Management S.A. grew its holdings in shares of STAAR Surgical by 213.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 164,088 shares of the medical instruments supplier's stock worth $2,753,000 after acquiring an additional 111,686 shares during the last quarter. Finally, Caxton Associates LLP acquired a new position in shares of STAAR Surgical in the 1st quarter worth $1,051,000. 96.70% of the stock is currently owned by institutional investors and hedge funds.

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.

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