STAAR Surgical (NASDAQ:STAA) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

STAAR Surgical Company (NASDAQ:STAA)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $23.14 and traded as high as $30.55. STAAR Surgical shares last traded at $29.99, with a volume of 557,282 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have commented on STAA. Weiss Ratings cut STAAR Surgical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 22nd. Wells Fargo & Company increased their price objective on STAAR Surgical from $16.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, May 15th. Wedbush restated an “outperform” rating and set a $40.00 price target on shares of STAAR Surgical in a research report on Friday, May 29th. Piper Sandler raised their price target on STAAR Surgical from $16.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, Canaccord Genuity Group increased their price objective on STAAR Surgical from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $27.81.

STAAR Surgical Price Performance

The company has a current ratio of 5.12, a quick ratio of 4.31 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $26.58 and a two-hundred day simple moving average of $23.14. The company has a market cap of $1.49 billion, a PE ratio of -69.74 and a beta of 1.23.

STAAR Surgical (NASDAQ:STAA) last posted its quarterly earnings results on Wednesday, May 13th. The medical instruments supplier reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. STAAR Surgical had a negative net margin of 7.24% and a positive return on equity of 3.31%. The company had revenue of $93.52 million during the quarter, compared to the consensus estimate of $78.72 million. During the same period last year, the firm earned ($1.10) EPS. The company’s revenue for the quarter was up 119.6% on a year-over-year basis. On average, equities analysts predict that STAAR Surgical Company will post 0.13 EPS for the current fiscal year.

Insider Transactions at STAAR Surgical

In other STAAR Surgical news, Director Broadwood Partners, L.P. purchased 316,017 shares of the business’s stock in a transaction on Friday, March 13th. The stock was bought at an average cost of $18.61 per share, for a total transaction of $5,881,076.37. Following the acquisition, the director owned 16,123,842 shares of the company’s stock, valued at approximately $300,064,699.62. The trade was a 2.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders purchased 670,213 shares of company stock valued at $12,266,249. 39.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Broadwood Capital Inc. raised its holdings in STAAR Surgical by 11.1% in the 4th quarter. Broadwood Capital Inc. now owns 15,019,491 shares of the medical instruments supplier’s stock valued at $346,800,000 after acquiring an additional 1,500,000 shares during the last quarter. Soleus Capital Management L.P. boosted its position in STAAR Surgical by 16.5% during 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. Yunqi Capital Ltd boosted its position in STAAR Surgical by 0.3% during the 4th 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 boosted its position in STAAR Surgical by 105.3% in the 4th quarter. Magnetar Financial LLC now owns 2,472,390 shares of the medical instruments supplier’s stock valued at $57,087,000 after buying an additional 1,268,019 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in STAAR Surgical by 112.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,076,743 shares of the medical instruments supplier’s stock valued at $47,952,000 after buying an additional 1,100,484 shares during the last quarter. 96.70% of the stock is currently 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. 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.