STAAR Surgical (NASDAQ:STAA) Stock Price Up 5.9% - Here's Why

STAAR Surgical (NASDAQ:STAA - Get Free Report)'s share price rose 5.9% during trading on Tuesday . The company traded as high as $25.44 and last traded at $25.35. Approximately 192,893 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 700,001 shares. The stock had previously closed at $23.93.

Analysts Set New Price Targets

A number of research firms recently issued reports on STAA. Needham & Company LLC restated a "hold" rating on shares of STAAR Surgical in a report on Thursday, October 31st. Stifel Nicolaus decreased their target price on STAAR Surgical from $50.00 to $44.00 and set a "buy" rating for the company in a research report on Monday, August 26th. Stephens raised STAAR Surgical to a "hold" rating in a research report on Monday, December 2nd. Finally, Canaccord Genuity Group decreased their target price on STAAR Surgical from $31.00 to $28.00 and set a "hold" rating for the company in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $42.83.

STAAR Surgical Trading Up 6.3 %

The stock has a market capitalization of $1.25 billion, a P/E ratio of 57.82 and a beta of 0.59. The company has a 50-day moving average price of $28.58 and a 200 day moving average price of $34.70.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in STAA. SG Americas Securities LLC raised its position in shares of STAAR Surgical by 173.5% in the 2nd quarter. SG Americas Securities LLC now owns 9,038 shares of the medical instruments supplier's stock worth $430,000 after acquiring an additional 5,733 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in STAAR Surgical by 3.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,343 shares of the medical instruments supplier's stock worth $540,000 after buying an additional 418 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in STAAR Surgical by 2.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 24,700 shares of the medical instruments supplier's stock worth $1,176,000 after buying an additional 500 shares during the last quarter. Slow Capital Inc. grew its stake in STAAR Surgical by 3.1% during the 2nd quarter. Slow Capital Inc. now owns 67,649 shares of the medical instruments supplier's stock worth $3,221,000 after buying an additional 2,003 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in STAAR Surgical by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 405,222 shares of the medical instruments supplier's stock worth $19,293,000 after buying an additional 5,712 shares during 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.