STAAR Surgical (NASDAQ:STAA) Shares Gap Up – What’s Next?

Shares of STAAR Surgical Company (NASDAQ:STAA) gapped up prior to trading on Tuesday . The stock had previously closed at $23.54, but opened at $27.25. STAAR Surgical shares last traded at $26.60, with a volume of 3,863,135 shares trading hands.

Analyst Ratings Changes

STAA has been the subject of several research reports. Canaccord Genuity Group reiterated a “hold” rating on shares of STAAR Surgical in a research report on Tuesday. Weiss Ratings reiterated a “sell (d)” rating on shares of STAAR Surgical in a research note on Wednesday, October 8th. Finally, Piper Sandler restated a “neutral” rating on shares of STAAR Surgical in a research report on Monday, October 27th. Ten investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, STAAR Surgical presently has a consensus rating of “Reduce” and a consensus price target of $20.67.

STAAR Surgical Price Performance

The company has a market cap of $1.28 billion, a price-to-earnings ratio of -13.32 and a beta of 1.01. The business’s 50-day simple moving average is $26.32 and its 200-day simple moving average is $23.44.

Insider Buying and Selling at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. acquired 797,486 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were acquired at an average price of $27.86 per share, with a total value of $22,217,959.96. Following the completion of the purchase, the insider directly owned 15,019,491 shares in the company, valued at approximately $418,443,019.26. The trade was a 5.61% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 1,500,000 shares of company stock valued at $41,061,615 over the last ninety days. Insiders own 0.59% of the company’s stock.

Institutional Investors Weigh In On STAAR Surgical

Several hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its holdings in STAAR Surgical by 2,605.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock valued at $28,000 after acquiring an additional 1,016 shares during the last quarter. CWM LLC raised its holdings in shares of STAAR Surgical by 74.1% in the 2nd quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier’s stock worth $26,000 after purchasing an additional 665 shares during the period. GAMMA Investing LLC lifted its stake in shares of STAAR Surgical by 61.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock valued at $50,000 after purchasing an additional 706 shares in the last quarter. US Bancorp DE grew its holdings in shares of STAAR Surgical by 1,693.0% during the 1st quarter. US Bancorp DE now owns 2,044 shares of the medical instruments supplier’s stock worth $36,000 after purchasing an additional 1,930 shares during the period. Finally, Brooklyn Investment Group raised its holdings in STAAR Surgical by 1,564.0% in the first quarter. Brooklyn Investment Group now owns 2,679 shares of the medical instruments supplier’s stock valued at $47,000 after buying an additional 2,518 shares during the period. 96.70% of the stock is owned by institutional investors and hedge funds.

About STAAR Surgical

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.