STAAR Surgical (NASDAQ:STAA) Shares Pass Above 200-Day Moving Average - What's Next?

STAAR Surgical Company (NASDAQ:STAA - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.18 and traded as high as $26.82. STAAR Surgical shares last traded at $26.77, with a volume of 771,074 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on STAA shares. Piper Sandler upgraded STAAR Surgical to a "hold" rating in a research report on Wednesday, June 18th. Mizuho increased their target price on shares of STAAR Surgical from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Stifel Nicolaus set a $28.00 target price on shares of STAAR Surgical and gave the stock a "hold" rating in a report on Thursday, August 7th. Finally, Canaccord Genuity Group upped their price target on shares of STAAR Surgical from $20.00 to $28.00 and gave the company a "hold" rating in a report on Wednesday, August 6th. Ten investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $20.67.

STAAR Surgical Price Performance

The stock's 50-day moving average price is $25.13 and its 200 day moving average price is $20.18. The firm has a market capitalization of $1.32 billion, a PE ratio of -13.87 and a beta of 0.74.

Hedge Funds Weigh In On STAAR Surgical

Hedge funds and other institutional investors have recently made changes to their positions in the company. Broadwood Capital Inc. raised its holdings in shares of STAAR Surgical by 8.5% in the second quarter. Broadwood Capital Inc. now owns 13,519,491 shares of the medical instruments supplier's stock valued at $226,857,000 after acquiring an additional 1,064,227 shares in the last quarter. Armistice Capital LLC raised its holdings in shares of STAAR Surgical by 244.0% in the 1st quarter. Armistice Capital LLC now owns 3,000,000 shares of the medical instruments supplier's stock valued at $52,890,000 after purchasing an additional 2,128,000 shares in the last quarter. Soleus Capital Management L.P. lifted its position in shares of STAAR Surgical by 16.5% in the 2nd quarter. Soleus Capital Management L.P. now owns 2,984,733 shares of the medical instruments supplier's stock worth $50,084,000 after purchasing an additional 421,840 shares during the period. Resona Asset Management Co. Ltd. boosted 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 valued at $40,746,000 after purchasing an additional 252,218 shares in the last quarter. Finally, Yunqi Capital Ltd increased its holdings in 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 valued at $40,461,000 after buying an additional 473,699 shares during the period. Institutional investors own 96.70% of the company's stock.

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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