Insider Selling: STAAR Surgical (NASDAQ:STAA) CEO Sells 35,000 Shares of Stock

STAAR Surgical (NASDAQ:STAAGet Rating) CEO Caren L. Mason sold 35,000 shares of the business’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $57.49, for a total value of $2,012,150.00. Following the sale, the chief executive officer now directly owns 83,645 shares of the company’s stock, valued at approximately $4,808,751.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

STAA remained flat at $$59.64 on Friday. The company had a trading volume of 480,088 shares, compared to its average volume of 512,859. The firm has a 50-day moving average of $65.86 and a 200 day moving average of $79.60. STAAR Surgical has a 1 year low of $49.03 and a 1 year high of $163.08. The firm has a market cap of $2.85 billion, a PE ratio of 102.83 and a beta of 1.18.

STAAR Surgical (NASDAQ:STAAGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The medical instruments supplier reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.11. The business had revenue of $63.20 million for the quarter, compared to analysts’ expectations of $60.53 million. STAAR Surgical had a return on equity of 12.78% and a net margin of 11.98%. The business’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 EPS. On average, sell-side analysts predict that STAAR Surgical will post 0.62 EPS for the current year.

Several institutional investors have recently made changes to their positions in STAA. PNC Financial Services Group Inc. raised its position in shares of STAAR Surgical by 14.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,237 shares of the medical instruments supplier’s stock worth $160,000 after purchasing an additional 159 shares during the period. Barclays PLC raised its position in shares of STAAR Surgical by 30.8% during the 3rd quarter. Barclays PLC now owns 75,650 shares of the medical instruments supplier’s stock worth $9,723,000 after purchasing an additional 17,808 shares during the period. CIBC Asset Management Inc raised its position in shares of STAAR Surgical by 11.5% during the 3rd quarter. CIBC Asset Management Inc now owns 1,930 shares of the medical instruments supplier’s stock worth $248,000 after purchasing an additional 199 shares during the period. Teacher Retirement System of Texas raised its position in shares of STAAR Surgical by 34.4% during the 3rd quarter. Teacher Retirement System of Texas now owns 6,002 shares of the medical instruments supplier’s stock worth $771,000 after purchasing an additional 1,536 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of STAAR Surgical during the 3rd quarter worth approximately $212,000. Institutional investors and hedge funds own 89.93% of the company’s stock.

A number of research firms have issued reports on STAA. Canaccord Genuity Group boosted their price target on STAAR Surgical from $81.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, April 26th. Benchmark raised STAAR Surgical from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a research report on Monday, March 28th. Needham & Company LLC reissued a “buy” rating and set a $87.00 price target on shares of STAAR Surgical in a research report on Tuesday, May 3rd. Canaccord Genuity Group boosted their price target on STAAR Surgical from $81.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, April 26th. Finally, Zacks Investment Research raised STAAR Surgical from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Friday, May 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $95.14.

About STAAR Surgical (Get Rating)

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 Visian implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness.

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Insider Buying and Selling by Quarter for STAAR Surgical (NASDAQ:STAA)

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