STAAR Surgical Sees Unusually Large Options Volume (NASDAQ:STAA)
by Scott Moore · The Cerbat GemSTAAR Surgical Company (NASDAQ:STAA – Get Free Report) was the target of some unusual options trading activity on Tuesday. Investors acquired 5,565 put options on the company. This represents an increase of 401% compared to the average volume of 1,111 put options.
Analysts Set New Price Targets
A number of brokerages have issued reports on STAA. Piper Sandler reaffirmed a “neutral” rating on shares of STAAR Surgical in a report on Monday, October 27th. Canaccord Genuity Group reiterated a “hold” rating and issued a $28.00 price objective on shares of STAAR Surgical in a report on Tuesday, October 21st. Finally, Weiss Ratings restated a “sell (d)” rating on shares of STAAR Surgical in a research note on Wednesday, October 8th. Ten analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, STAAR Surgical currently has an average rating of “Reduce” and a consensus target price of $20.67.
Check Out Our Latest Analysis on STAAR Surgical
Insider Activity
In other news, major shareholder Broadwood Partners, L.P. bought 797,486 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was purchased at an average price of $27.86 per share, for a total transaction of $22,217,959.96. Following the completion of the purchase, the insider owned 15,019,491 shares in the company, valued at approximately $418,443,019.26. This trade represents a 5.61% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have acquired 1,500,000 shares of company stock worth $41,061,615. 0.59% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in STAA. CWM LLC increased its position in STAAR Surgical by 74.1% during the second quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier’s stock worth $26,000 after buying an additional 665 shares during the period. Caitong International Asset Management Co. Ltd grew its position in shares of STAAR Surgical by 2,605.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock worth $28,000 after acquiring an additional 1,016 shares during the last quarter. US Bancorp DE grew its position in shares of STAAR Surgical by 1,693.0% during the first quarter. US Bancorp DE now owns 2,044 shares of the medical instruments supplier’s stock worth $36,000 after acquiring an additional 1,930 shares during the last quarter. Brooklyn Investment Group increased its holdings in shares of STAAR Surgical by 1,564.0% in the 1st quarter. Brooklyn Investment Group now owns 2,679 shares of the medical instruments supplier’s stock valued at $47,000 after acquiring an additional 2,518 shares during the period. Finally, GAMMA Investing LLC raised its position in STAAR Surgical by 61.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock valued at $50,000 after purchasing an additional 706 shares during the last quarter. Hedge funds and other institutional investors own 96.70% of the company’s stock.
STAAR Surgical Stock Performance
NASDAQ STAA traded up $2.97 during trading hours on Tuesday, hitting $26.51. The company had a trading volume of 4,027,705 shares, compared to its average volume of 1,155,368. The business has a 50 day moving average of $26.32 and a 200-day moving average of $23.44. The company has a market cap of $1.32 billion, a PE ratio of -13.62 and a beta of 1.01. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $30.81.
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.
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