STAAR Surgical (NASDAQ:STAA) Short Interest Down 30.1% in October

STAAR Surgical (NASDAQ:STAA) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 2,920,000 shares, a decrease of 30.1% from the October 15th total of 4,180,000 shares. Based on an average trading volume of 746,000 shares, the short-interest ratio is currently 3.9 days.

Analyst Ratings Changes

Several brokerages recently commented on STAA. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a report on Thursday, October 31st. Stifel Nicolaus lowered their price objective on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Finally, Canaccord Genuity Group cut their price objective on shares of STAAR Surgical from $41.00 to $31.00 and set a “hold” rating for the company in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, STAAR Surgical currently has an average rating of “Hold” and an average target price of $43.33.

Hedge Funds Weigh In On STAAR Surgical

Several institutional investors and hedge funds have recently added to or reduced their stakes in STAA. Geode Capital Management LLC increased its holdings in STAAR Surgical by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,174,499 shares of the medical instruments supplier’s stock valued at $43,641,000 after purchasing an additional 31,212 shares during the period. Barclays PLC lifted its position in shares of STAAR Surgical by 349.4% in the 3rd quarter. Barclays PLC now owns 91,707 shares of the medical instruments supplier’s stock worth $3,406,000 after purchasing an additional 71,301 shares during the period. XTX Topco Ltd bought a new stake in shares of STAAR Surgical in the 3rd quarter valued at $508,000. State Street Corp increased its position in shares of STAAR Surgical by 0.5% during the third quarter. State Street Corp now owns 1,940,567 shares of the medical instruments supplier’s stock worth $72,092,000 after buying an additional 10,430 shares during the period. Finally, Quarry LP bought a new position in STAAR Surgical during the third quarter worth $50,000. 96.70% of the stock is currently owned by institutional investors and hedge funds.

STAAR Surgical Stock Down 2.3 %

STAAR Surgical stock traded down $0.64 during trading hours on Friday, hitting $26.66. The stock had a trading volume of 495,977 shares, compared to its average volume of 712,914. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 60.59 and a beta of 0.61. The business’s 50 day simple moving average is $31.29 and its 200-day simple moving average is $37.34. STAAR Surgical has a one year low of $26.62 and a one year high of $52.68.

About STAAR Surgical

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.