STAAR Surgical Company (NASDAQ:STAA) Short Interest Update

STAAR Surgical Company (NASDAQ:STAA) was the recipient of a significant growth in short interest in February. As of February 13th, there was short interest totaling 5,735,019 shares, a growth of 43.2% from the January 29th total of 4,005,845 shares. Currently, 11.6% of the shares of the stock are short sold. Based on an average trading volume of 1,276,282 shares, the days-to-cover ratio is presently 4.5 days. Based on an average trading volume of 1,276,282 shares, the days-to-cover ratio is presently 4.5 days. Currently, 11.6% of the shares of the stock are short sold.

STAAR Surgical Stock Performance

Shares of NASDAQ STAA traded down $0.42 during midday trading on Friday, hitting $19.90. 1,859,225 shares of the company’s stock traded hands, compared to its average volume of 1,412,957. The firm has a fifty day moving average of $20.17 and a 200 day moving average of $24.35. STAAR Surgical has a 1 year low of $14.69 and a 1 year high of $30.81. The stock has a market capitalization of $989.83 million, a price-to-earnings ratio of -10.21 and a beta of 1.06.

Insider Buying and Selling at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. purchased 27,485 shares of STAAR Surgical stock in a transaction that occurred on Friday, January 9th. The shares were acquired at an average cost of $22.05 per share, for a total transaction of $606,044.25. Following the transaction, the insider directly owned 15,453,629 shares in the company, valued at $340,752,519.45. The trade was a 0.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have purchased 434,138 shares of company stock valued at $9,424,176. Insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

A number of institutional investors have recently bought and sold shares of STAA. Broadwood Capital Inc. grew its holdings in STAAR Surgical by 11.1% during the fourth quarter. Broadwood Capital Inc. now owns 15,019,491 shares of the medical instruments supplier’s stock valued at $346,800,000 after purchasing an additional 1,500,000 shares during the period. Soleus Capital Management L.P. lifted its holdings in STAAR Surgical by 16.5% during the second quarter. Soleus Capital Management L.P. now owns 2,984,733 shares of the medical instruments supplier’s stock valued at $50,084,000 after purchasing an additional 421,840 shares in the last quarter. Yunqi Capital Ltd boosted its position in shares of STAAR Surgical by 0.3% in the fourth quarter. Yunqi Capital Ltd now owns 2,507,130 shares of the medical instruments supplier’s stock worth $57,890,000 after purchasing an additional 7,069 shares during the period. Magnetar Financial LLC increased its stake in shares of STAAR Surgical by 105.3% in the fourth quarter. Magnetar Financial LLC now owns 2,472,390 shares of the medical instruments supplier’s stock worth $57,087,000 after purchasing an additional 1,268,019 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. increased its stake in STAAR Surgical by 11.6% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 2,421,836 shares of the medical instruments supplier’s stock worth $40,746,000 after buying an additional 252,218 shares in the last quarter. 96.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of STAAR Surgical in a research note on Thursday, January 22nd. Canaccord Genuity Group reduced their price target on STAAR Surgical from $30.75 to $22.00 and set a “hold” rating for the company in a report on Thursday, January 15th. Wedbush began coverage on shares of STAAR Surgical in a research note on Tuesday, February 3rd. They issued a “neutral” rating and a $26.00 price target on the stock. Stifel Nicolaus reduced their price objective on shares of STAAR Surgical from $28.00 to $19.00 and set a “hold” rating for the company in a research note on Monday, February 9th. Finally, Morgan Stanley assumed coverage on shares of STAAR Surgical in a report on Friday, January 16th. They issued an “underweight” rating and a $13.00 target price for the company. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $20.91.

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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.