STAAR Surgical (NASDAQ:STAA) Short Interest Down 30.1% in October

STAAR Surgical (NASDAQ:STAA - Get Free Report) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 2,920,000 shares, a drop of 30.1% from the October 15th total of 4,180,000 shares. Based on an average daily volume of 746,000 shares, the short-interest ratio is presently 3.9 days.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on STAA shares. Stifel Nicolaus lowered their price target on STAAR Surgical from $50.00 to $44.00 and set a "buy" rating on the stock in a report on Monday, August 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of STAAR Surgical in a report on Thursday, October 31st. Finally, Canaccord Genuity Group lowered their target price on STAAR Surgical from $41.00 to $31.00 and set a "hold" rating on the stock in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $43.33.

Hedge Funds Weigh In On STAAR Surgical

Hedge funds and other institutional investors have recently modified their holdings of the stock. Arcadia Investment Management Corp MI acquired a new position in shares of STAAR Surgical in the 3rd quarter valued at $37,000. Quarry LP acquired a new position in shares of STAAR Surgical in the 3rd quarter valued at $50,000. Covestor Ltd boosted its position in STAAR Surgical by 38.9% during the 1st quarter. Covestor Ltd now owns 2,690 shares of the medical instruments supplier's stock worth $103,000 after acquiring an additional 754 shares during the period. Canada Pension Plan Investment Board acquired a new stake in STAAR Surgical during the 2nd quarter worth about $129,000. Finally, Larson Financial Group LLC acquired a new stake in STAAR Surgical during the 2nd quarter worth about $130,000. Institutional investors and hedge funds own 96.70% of the company's stock.

STAAR Surgical Stock Performance

Shares of NASDAQ:STAA traded down $0.64 during midday trading on Friday, reaching $26.66. The company had a trading volume of 495,977 shares, compared to its average volume of 712,914. STAAR Surgical has a 1-year low of $26.62 and a 1-year high of $52.68. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 60.59 and a beta of 0.61. The company has a fifty day simple moving average of $31.29 and a two-hundred day simple moving average of $37.28.

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.