STAAR Surgical Sees Unusually Large Options Volume (STAA)

STAAR Surgical (NASDAQ:STAA) was the recipient of some unusual options trading activity on Wednesday. Investors acquired 2,734 put options on the company. This is an increase of approximately 3,361% compared to the typical daily volume of 79 put options.

Shares of NASDAQ:STAA traded down $0.96 during midday trading on Friday, reaching $24.04. The company’s stock had a trading volume of 321,500 shares, compared to its average volume of 441,737. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 85.86 and a beta of 2.02. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.41 and a quick ratio of 4.83. STAAR Surgical has a fifty-two week low of $21.70 and a fifty-two week high of $54.00.

STAAR Surgical (NASDAQ:STAA) last announced its quarterly earnings data on Wednesday, May 1st. The medical instruments supplier reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. STAAR Surgical had a return on equity of 13.22% and a net margin of 4.44%. The company had revenue of $32.58 million for the quarter, compared to the consensus estimate of $32.40 million. During the same period in the previous year, the business earned $0.01 EPS. Analysts anticipate that STAAR Surgical will post 0.3 EPS for the current year.

In related news, CTO Keith Holliday sold 2,084 shares of STAAR Surgical stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $36.22, for a total transaction of $75,482.48. Following the completion of the sale, the chief technology officer now directly owns 40,239 shares of the company’s stock, valued at approximately $1,457,456.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Broadwood Partners, L.P. purchased 100,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average cost of $22.23 per share, with a total value of $2,223,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 17,730 shares of company stock worth $655,538. Insiders own 3.90% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Strs Ohio increased its position in STAAR Surgical by 1.2% in the 4th quarter. Strs Ohio now owns 24,800 shares of the medical instruments supplier’s stock valued at $791,000 after buying an additional 300 shares in the last quarter. Zebra Capital Management LLC increased its holdings in STAAR Surgical by 11.7% during the 1st quarter. Zebra Capital Management LLC now owns 7,091 shares of the medical instruments supplier’s stock worth $242,000 after purchasing an additional 740 shares in the last quarter. AdvisorNet Financial Inc increased its holdings in STAAR Surgical by 600.0% during the 4th quarter. AdvisorNet Financial Inc now owns 875 shares of the medical instruments supplier’s stock worth $28,000 after purchasing an additional 750 shares in the last quarter. Legal & General Group Plc increased its holdings in STAAR Surgical by 12.7% during the 4th quarter. Legal & General Group Plc now owns 7,616 shares of the medical instruments supplier’s stock worth $243,000 after purchasing an additional 857 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in STAAR Surgical by 0.5% during the 4th quarter. American Century Companies Inc. now owns 175,398 shares of the medical instruments supplier’s stock worth $5,597,000 after purchasing an additional 892 shares in the last quarter. 90.58% of the stock is owned by institutional investors and hedge funds.

STAA has been the topic of several recent analyst reports. Canaccord Genuity reiterated a “buy” rating and issued a $38.00 price target (down previously from $43.00) on shares of STAAR Surgical in a research note on Monday, May 6th. BidaskClub upgraded STAAR Surgical from a “hold” rating to a “buy” rating in a research note on Wednesday, February 20th. Zacks Investment Research upgraded STAAR Surgical from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Wednesday, May 1st. Finally, ValuEngine upgraded STAAR Surgical from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $40.33.

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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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