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Short Interest in STAAR Surgical (NASDAQ:STAA) Grows By 5.0%

STAAR Surgical (NASDAQ:STAA) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 3,340,000 shares, a growth of 5.0% from the September 30th total of 3,180,000 shares. Based on an average daily volume of 327,900 shares, the short-interest ratio is currently 10.2 days. Approximately 7.6% of the company’s stock are short sold.

A number of analysts have issued reports on the stock. ValuEngine cut shares of STAAR Surgical from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. BidaskClub upgraded shares of STAAR Surgical from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Zacks Investment Research cut shares of STAAR Surgical from a “buy” rating to a “hold” rating in a research note on Saturday, October 19th. Benchmark reduced their price objective on shares of STAAR Surgical from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Finally, Canaccord Genuity upped their target price on shares of STAAR Surgical from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $41.67.

STAAR Surgical stock traded up $0.46 on Monday, hitting $37.85. The company’s stock had a trading volume of 17,122 shares, compared to its average volume of 475,822. The company has a fifty day moving average price of $30.63 and a 200-day moving average price of $29.19. The company has a quick ratio of 4.96, a current ratio of 5.50 and a debt-to-equity ratio of 0.03. STAAR Surgical has a one year low of $21.70 and a one year high of $41.65. The firm has a market cap of $1.64 billion, a P/E ratio of 135.36 and a beta of 2.34.

STAAR Surgical (NASDAQ:STAA) last posted its earnings results on Wednesday, October 30th. The medical instruments supplier reported $0.05 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. STAAR Surgical had a net margin of 6.15% and a return on equity of 13.84%. The business had revenue of $39.06 million for the quarter, compared to analyst estimates of $37.50 million. Analysts anticipate that STAAR Surgical will post 0.25 EPS for the current year.

In other STAAR Surgical news, VP Graydon C. Hansen sold 17,083 shares of STAAR Surgical stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $35.02, for a total value of $598,246.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Deborah J. Andrews sold 4,167 shares of STAAR Surgical stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $34.68, for a total transaction of $144,511.56. Following the completion of the sale, the chief financial officer now owns 32,101 shares of the company’s stock, valued at $1,113,262.68. The disclosure for this sale can be found here. Insiders have sold 24,933 shares of company stock worth $871,552 over the last ninety days. 4.30% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of STAAR Surgical by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 3,758,543 shares of the medical instruments supplier’s stock worth $110,426,000 after purchasing an additional 130,379 shares during the last quarter. TimesSquare Capital Management LLC bought a new stake in STAAR Surgical during the 2nd quarter worth about $29,997,000. Waddell & Reed Financial Inc. grew its holdings in STAAR Surgical by 18.9% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 920,151 shares of the medical instruments supplier’s stock worth $27,034,000 after acquiring an additional 146,283 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in STAAR Surgical by 2,140.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 738,169 shares of the medical instruments supplier’s stock worth $21,688,000 after acquiring an additional 705,217 shares during the last quarter. Finally, Defender Capital LLC. grew its holdings in STAAR Surgical by 14.7% during the 2nd quarter. Defender Capital LLC. now owns 601,828 shares of the medical instruments supplier’s stock worth $18,069,000 after acquiring an additional 77,142 shares during the last quarter. 90.33% of the stock is currently owned by institutional investors and hedge funds.

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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