Shares of STAAR Surgical Company (NASDAQ:STAA - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $18.49, but opened at $26.77. STAAR Surgical shares last traded at $26.77, with a volume of 16,490,247 shares trading hands.
Analyst Upgrades and Downgrades
STAA has been the subject of a number of analyst reports. Piper Sandler upgraded shares of STAAR Surgical to a "hold" rating in a research report on Wednesday, June 18th. Canaccord Genuity Group raised their price objective on shares of STAAR Surgical from $20.00 to $28.00 and gave the company a "hold" rating in a research report on Wednesday. Wells Fargo & Company initiated coverage on shares of STAAR Surgical in a research report on Monday, April 21st. They issued an "equal weight" rating and a $17.00 price objective for the company. Needham & Company LLC restated a "hold" rating on shares of STAAR Surgical in a research report on Wednesday, May 21st. Finally, Stifel Nicolaus set a $28.00 price objective on shares of STAAR Surgical and gave the company a "hold" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $20.67.
View Our Latest Report on STAAR Surgical
STAAR Surgical Price Performance
The business's 50 day moving average is $18.23 and its two-hundred day moving average is $18.41. The firm has a market capitalization of $1.35 billion, a PE ratio of -14.12 and a beta of 0.61.
STAAR Surgical declared that its board has approved a stock repurchase program on Friday, May 16th that allows the company to buyback $30.00 million in outstanding shares. This buyback authorization allows the medical instruments supplier to purchase up to 3.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the business. Broadwood Capital Inc. raised its stake in shares of STAAR Surgical by 14.8% during the first quarter. Broadwood Capital Inc. now owns 12,455,264 shares of the medical instruments supplier's stock worth $219,586,000 after acquiring an additional 1,606,633 shares in the last quarter. Armistice Capital LLC raised its stake in shares of STAAR Surgical by 244.0% during the first quarter. Armistice Capital LLC now owns 3,000,000 shares of the medical instruments supplier's stock worth $52,890,000 after acquiring an additional 2,128,000 shares in the last quarter. Resona Asset Management Co. Ltd. raised its stake in shares of STAAR Surgical by 11.6% during the second quarter. Resona Asset Management Co. Ltd. now owns 2,421,836 shares of the medical instruments supplier's stock worth $40,746,000 after acquiring an additional 252,218 shares in the last quarter. Yunqi Capital Ltd raised its stake in shares of STAAR Surgical by 24.4% during the second quarter. Yunqi Capital Ltd now owns 2,411,288 shares of the medical instruments supplier's stock worth $40,461,000 after acquiring an additional 473,699 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of STAAR Surgical by 0.3% during the second quarter. Geode Capital Management LLC now owns 1,192,821 shares of the medical instruments supplier's stock worth $20,018,000 after acquiring an additional 3,335 shares in the last quarter. 96.70% of the stock is owned by hedge funds and other institutional investors.
About STAAR Surgical
(
Get Free Report)
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.
Further Reading
Before you consider STAAR Surgical, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and STAAR Surgical wasn't on the list.
While STAAR Surgical currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.