Stock Traders Purchase High Volume of STAAR Surgical Put Options (NASDAQ:STAA)

STAAR Surgical Company (NASDAQ:STAA) saw unusually large options trading activity on Wednesday. Stock investors acquired 4,000 put options on the stock. This is an increase of approximately 463% compared to the average daily volume of 710 put options.

STAAR Surgical Stock Down 0.2%

STAA opened at $26.53 on Friday. The firm has a 50-day simple moving average of $26.96 and a two-hundred day simple moving average of $21.88. STAAR Surgical has a 52 week low of $13.50 and a 52 week high of $32.00. The company has a market capitalization of $1.31 billion, a PE ratio of -13.75 and a beta of 0.82.

Institutional Trading of STAAR Surgical

Several hedge funds have recently made changes to their positions in STAA. Armistice Capital LLC raised its position in shares of STAAR Surgical by 244.0% during the 1st quarter. Armistice Capital LLC now owns 3,000,000 shares of the medical instruments supplier’s stock valued at $52,890,000 after buying an additional 2,128,000 shares in the last quarter. Broadwood Capital Inc. raised its position in shares of STAAR Surgical by 14.8% during the 1st quarter. Broadwood Capital Inc. now owns 12,455,264 shares of the medical instruments supplier’s stock valued at $219,586,000 after buying an additional 1,606,633 shares in the last quarter. Yunqi Capital Ltd raised its position in shares of STAAR Surgical by 152.5% during the 1st quarter. Yunqi Capital Ltd now owns 1,937,589 shares of the medical instruments supplier’s stock valued at $34,160,000 after buying an additional 1,170,176 shares in the last quarter. Resona Asset Management Co. Ltd. raised its position in shares of STAAR Surgical by 44.6% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 2,169,618 shares of the medical instruments supplier’s stock valued at $38,358,000 after buying an additional 669,430 shares in the last quarter. Finally, Soleus Capital Management L.P. raised its position in shares of STAAR Surgical by 16.5% during the 2nd quarter. Soleus Capital Management L.P. now owns 2,984,733 shares of the medical instruments supplier’s stock valued at $50,084,000 after buying an additional 421,840 shares in the last quarter. 96.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on STAA shares. Stifel Nicolaus set a $28.00 target price on shares of STAAR Surgical and gave the stock a “hold” rating in a report on Thursday, August 7th. Piper Sandler reaffirmed a “neutral” rating on shares of STAAR Surgical in a report on Monday. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $28.00 target price on shares of STAAR Surgical in a report on Tuesday, October 21st. Mizuho upped their target price on shares of STAAR Surgical from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of STAAR Surgical in a report on Wednesday, October 8th. Ten equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $20.67.

STAAR Surgical Company Profile

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.