STAAR Surgical (NASDAQ:STAA) Shares Gap Up – Still a Buy?

STAAR Surgical (NASDAQ:STAA)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $26.68, but opened at $28.55. STAAR Surgical shares last traded at $28.55, with a volume of 2,115 shares traded.

Analysts Set New Price Targets

Several research firms have weighed in on STAA. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research report on Thursday, October 31st. Stifel Nicolaus lowered their price objective 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. Finally, Canaccord Genuity Group cut their price objective on shares of STAAR Surgical from $41.00 to $31.00 and set a “hold” rating on the stock in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $43.33.

STAAR Surgical Price Performance

The firm has a market cap of $1.39 billion, a P/E ratio of 65.43 and a beta of 0.61. The firm’s 50-day moving average price is $30.74 and its 200 day moving average price is $36.37.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Arcadia Investment Management Corp MI acquired a new position in shares of STAAR Surgical in the 3rd quarter valued at about $37,000. Quarry LP acquired a new stake in shares of STAAR Surgical in the 3rd quarter worth about $50,000. Quest Partners LLC acquired a new stake in shares of STAAR Surgical in the 3rd quarter worth about $128,000. Canada Pension Plan Investment Board bought a new stake in STAAR Surgical in the 2nd quarter valued at about $129,000. Finally, Van ECK Associates Corp increased its position in STAAR Surgical by 12.7% in the 3rd quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock valued at $129,000 after acquiring an additional 393 shares during the period. Institutional investors and hedge funds own 96.70% of the company’s stock.

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.