STAAR Surgical (NASDAQ:STAA) Short Interest Down 17.4% in October

STAAR Surgical (NASDAQ:STAA - Get Free Report) saw a large drop in short interest in October. As of October 15th, there was short interest totalling 4,180,000 shares, a drop of 17.4% from the September 30th total of 5,060,000 shares. Based on an average trading volume of 818,200 shares, the days-to-cover ratio is currently 5.1 days.

STAAR Surgical Trading Up 1.0 %

NASDAQ STAA traded up $0.30 during trading hours on Monday, hitting $30.69. 555,655 shares of the company's stock were exchanged, compared to its average volume of 715,563. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 90.26 and a beta of 0.59. The stock has a 50-day simple moving average of $32.30 and a 200 day simple moving average of $38.96. STAAR Surgical has a 1-year low of $26.66 and a 1-year high of $52.68.

STAAR Surgical (NASDAQ:STAA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The medical instruments supplier reported $0.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.09). STAAR Surgical had a return on equity of 5.60% and a net margin of 4.99%. The business had revenue of $99.01 million for the quarter, compared to the consensus estimate of $95.22 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. STAAR Surgical's quarterly revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts anticipate that STAAR Surgical will post 0.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

STAA has been the subject of several analyst reports. Morgan Stanley downgraded shares of STAAR Surgical from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $50.00 to $37.00 in a research note on Monday, July 15th. BTIG Research lifted their target price on STAAR Surgical from $46.00 to $53.00 and gave the stock a "buy" rating in a report on Monday, July 15th. Needham & Company LLC reissued a "hold" rating on shares of STAAR Surgical in a research note on Thursday, September 19th. Canaccord Genuity Group lowered their price objective on STAAR Surgical from $43.00 to $41.00 and set a "hold" rating for the company in a research report on Thursday, August 8th. Finally, Stifel Nicolaus reduced their target price on STAAR Surgical from $50.00 to $44.00 and set a "buy" rating on the stock in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, STAAR Surgical presently has an average rating of "Hold" and an average price target of $45.57.

Insider Activity at STAAR Surgical

In other news, Director Arthur C. Butcher bought 1,315 shares of the stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $37.99 per share, with a total value of $49,956.85. Following the acquisition, the director now directly owns 4,208 shares in the company, valued at approximately $159,861.92. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On STAAR Surgical

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd grew its position in STAAR Surgical by 38.9% in the 1st quarter. Covestor Ltd now owns 2,690 shares of the medical instruments supplier's stock valued at $103,000 after purchasing an additional 754 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of STAAR Surgical in the second quarter valued at $129,000. Larson Financial Group LLC acquired a new position in shares of STAAR Surgical during the second quarter valued at about $130,000. nVerses Capital LLC grew its holdings in shares of STAAR Surgical by 78.3% during the third quarter. nVerses Capital LLC now owns 4,100 shares of the medical instruments supplier's stock valued at $152,000 after buying an additional 1,800 shares during the last quarter. Finally, Creative Planning increased its position in shares of STAAR Surgical by 8.0% during the third quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier's stock worth $205,000 after acquiring an additional 408 shares in the last quarter. 96.70% of the stock is owned by institutional investors.

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.