Staar Surgical Co. (STAA) Trading Down 5.4%
Staar Surgical Co. (NASDAQ:STAA) dropped 5.4% on Tuesday . The stock traded as low as $8.51 and last traded at $8.60, with a volume of 80,034 shares changing hands. The stock had previously closed at $9.09.
STAA has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of Staar Surgical from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Benchmark Co. raised shares of Staar Surgical from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Wednesday, May 18th. Finally, William Blair reaffirmed a “market perform” rating on shares of Staar Surgical in a research note on Thursday, August 4th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $7.50.
The stock’s 50-day moving average price is $8.40 and its 200 day moving average price is $7.03. The firm’s market capitalization is $347.71 million.
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Staar Surgical (NASDAQ:STAA) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.05). Staar Surgical had a negative net margin of 16.00% and a negative return on equity of 7.12%. The company earned $21 million during the quarter, compared to analysts’ expectations of $19.88 million. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities analysts anticipate that Staar Surgical Co. will post ($0.30) EPS for the current fiscal year.
In other Staar Surgical news, major shareholder Broadwood Partners Lp acquired 14,144 shares of the business’s stock in a transaction dated Wednesday, June 29th. The stock was bought at an average price of $5.24 per share, with a total value of $74,114.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 5.60% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the stock. Menta Capital LLC boosted its stake in shares of Staar Surgical by 26.9% in the first quarter. Menta Capital LLC now owns 75,840 shares of the company’s stock worth $560,000 after buying an additional 16,096 shares during the period. Goldman Sachs Group Inc. acquired a new stake in shares of Staar Surgical during the first quarter worth about $233,000. Geode Capital Management LLC boosted its stake in shares of Staar Surgical by 1.6% in the first quarter. Geode Capital Management LLC now owns 193,933 shares of the company’s stock worth $1,433,000 after buying an additional 3,015 shares during the period. Kennedy Capital Management Inc. acquired a new stake in shares of Staar Surgical during the first quarter worth about $1,104,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Staar Surgical by 959.2% in the first quarter. Renaissance Technologies LLC now owns 150,400 shares of the company’s stock worth $1,111,000 after buying an additional 136,200 shares during the period. 74.19% of the stock is owned by institutional investors.
About Staar Surgical
STAAR Surgical Company designs, develops, manufactures and sells implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. The Company operates in the ophthalmic surgical market segment. Its principal products are intraocular lenses (IOLs) used in cataract surgery and implantable collamer lenses (ICLs) used in refractive surgery.
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