STAAR Surgical Sees Unusually Large Options Volume (STAA)

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STAAR Surgical (NASDAQ:STAA) was the recipient of unusually large options trading activity on Monday. Stock investors purchased 1,505 put options on the company. This represents an increase of 2,215% compared to the typical volume of 65 put options.

In related news, Director William P. Wall sold 5,000 shares of the company’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $41.35, for a total value of $206,750.00. Following the completion of the sale, the director now directly owns 16,235 shares in the company, valued at $671,317.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.90% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. acquired a new position in shares of STAAR Surgical during the second quarter valued at about $11,121,000. Millennium Management LLC raised its position in shares of STAAR Surgical by 78.0% during the second quarter. Millennium Management LLC now owns 587,601 shares of the medical instruments supplier’s stock valued at $18,216,000 after buying an additional 257,549 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of STAAR Surgical by 57.6% during the second quarter. Renaissance Technologies LLC now owns 619,000 shares of the medical instruments supplier’s stock valued at $19,189,000 after buying an additional 226,200 shares during the last quarter. Hodges Capital Management Inc. acquired a new position in shares of STAAR Surgical during the third quarter valued at about $10,052,000. Finally, Acadian Asset Management LLC acquired a new position in shares of STAAR Surgical during the second quarter valued at about $4,969,000. 79.63% of the stock is owned by hedge funds and other institutional investors.

STAAR Surgical stock opened at $38.48 on Wednesday. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 3,848.00 and a beta of 1.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.68 and a quick ratio of 2.11. STAAR Surgical has a fifty-two week low of $12.55 and a fifty-two week high of $54.00.

STAAR Surgical (NASDAQ:STAA) last released its earnings results on Wednesday, August 1st. The medical instruments supplier reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.08. The firm had revenue of $33.91 million during the quarter, compared to analyst estimates of $27.10 million. STAAR Surgical had a net margin of 3.15% and a return on equity of 16.04%. Equities analysts forecast that STAAR Surgical will post 0.03 earnings per share for the current fiscal year.

A number of research analysts have weighed in on STAA shares. Benchmark reissued a “buy” rating and set a $54.00 target price (up previously from $45.00) on shares of STAAR Surgical in a research report on Monday, September 24th. Canaccord Genuity boosted their target price on shares of STAAR Surgical from $43.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, September 14th. BidaskClub raised shares of STAAR Surgical from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 24th. Finally, Zacks Investment Research raised shares of STAAR Surgical from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Tuesday, October 23rd. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $43.75.

STAAR Surgical Company Profile

STAAR Surgical Company, together with its subsidiaries, designs, develops, manufactures, markets, and sells implantable lenses for the eye, and delivery systems to deliver the lenses into the eye. The company provides Visian implantable collamer lenses (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness.

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