Is STAAR Surgical Company (NASDAQ: STAA) Back In The Buying Zone?

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Broadwood Capital, Inc. recently announced the acquisition of new stake in STAAR Surgical Company (NASDAQ:STAA). The institutional investor has increased its shareholding in the Healthcare company by 0.76% to 10.88 million shares with purchase of 81669.0 shares. This fresh investment now brings its stake to 24.12% valued currently at $422.19 million. In addition, The Vanguard Group, Inc. raised its holdings by 14742.0 to 3.62 million shares. And Baillie Gifford & Co. has lifted its position by 1.32% or 25587.0 shares – to 1.97 million shares.

With over 0.89 million STAAR Surgical Company (STAA) shares trading Tuesday and a closing price of $57.95 on the day, the dollar volume was approximately $51.73 million. The shares have shown a negative weekly performance of -5.59% and its price on 07/07/20 gained nearly 0.02%. Currently, there are 44.95M common shares owned by the public and among those 30.59M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for STAA have a consensus price objective of $55.60. The analysts have set the share’s price value over the next 12 months at a high of $70.00 and a low of $45.00 should the stock experience a downside. Incidentally, analysts’ outlook for the STAAR Surgical Company stock is 1.40 for the next 12 months. The average price target is -14.53% below its last price level and a downside to the estimated low will see the stock lose -28.78% over that period. But an upside of 17.21% will see the stock hit the forecast high price target while mean target price for the stock is $55.00.

Insiders at the company have transacted a total of 76 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 45 of these insider trades were purchases, accounting for 617,479 shares. Insider sales of the common stock occurred on 31 occasions, with total insider shares sold totaling 648,863 shares.

The top 3 mutual fund holders in STAAR Surgical Company are American Funds Small Cap World Fu, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. American Funds Small Cap World Fu owns 1.92 million shares of the company’s stock, all valued at over $74.43 million. The company bought an additional 85300.0 shares recently to bring their total holdings to about 4.25% of the shares outstanding. Vanguard Total Stock Market Index sold 13199.0 shares to see its total holdings shrink to 1.27 million shares valued at over $49.14 million and representing 2.81% of the shares outstanding. iShares Russell 2000 ETF bought 9275.0 shares to bring its total holdings to over 0.93 million shares at a value of $36.06 million. iShares Russell 2000 ETF now owns shares totaling to 2.06% of the shares outstanding.

Shares of STAAR Surgical Company (NASDAQ: STAA) opened at $58.54, up $0.6 from a prior closing price of $57.94. However, the script later closed the day at $57.95, up 0.02%. The company’s stock has a 5-day price change of -5.59% and 76.89% over the past three months. STAA shares are trading 64.77% year to date (YTD), with the 12-month market performance up to 96.04% higher. It has a 12-month low price of $23.20 and touched a high of $62.51 over the same period. Currently, 0.89 million shares have been traded, compared to an average intraday trading volume of 573.05K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.73%, 31.66%, and 61.45% respectively.

Institutional ownership of STAAR Surgical Company (NASDAQ: STAA) shares accounts for 97.20% of the company’s 44.95M shares outstanding. Mutual fund holders own 34.30%, while other institutional holders and individual stakeholders account for 61.07% and 27.21% respectively.

It has a market capitalization of $2.59B and a beta (3y monthly) value of 1.69. The stock’s trailing 12-month PE ratio is 217.04, while the earnings-per-share (ttm) stands at $0.27. The company has a PEG of 7.23 and a Quick Ratio of 5.20 with the debt-to-equity ratio at 0.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.55% over the week and 5.85% over the month.

Analysts forecast that STAAR Surgical Company (STAA) will achieve an EPS of -$0.04 for the current quarter, $0.05 for the next quarter and $0.48 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.16 while analysts give the company a high EPS estimate of $0.01. Comparatively, EPS for the current quarter was $0.08 a year ago. Earnings per share for the fiscal year are expected to increase by 172.90%, and 622.73% over the next financial year. EPS should grow at an annualized rate of 30.00% over the next five years, compared to 27.40% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate STAAR Surgical Company (STAA) as a “Strong Buy” at a consensus score of 1.40. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 2 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the STAA, a number of firms have released research notes about the stock. Sidoti stated their Neutral rating for the stock in a research note on July 06, 2020, with the firm’s price target at $58. BTIG Research coverage for the STAAR Surgical Company (STAA) stock in a research note released on June 24, 2020 offered a Neutral rating with a price target of. Jefferies was of a view on June 15, 2020 that the stock is Buy, while BTIG Research gave the stock Buy rating on December 04, 2019. The Benchmark Company on their part issued Buy rating on September 24, 2018.

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