STAAR Surgical Company (NASDAQ:STAA) closed Wednesday at $70.71 per share, down from $73.93 a day earlier. While STAAR Surgical Company has underperformed by -4.36%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, STAA fell by -6.26%, with highs and lows ranging from $112.27 to $46.35, whereas the simple moving average fell by -0.03% in the last 200 days.
On December 28, 2022, BTIG Research Reiterated STAAR Surgical Company (NASDAQ: STAA) to Buy. A report published by Stifel on December 08, 2022, Initiated its previous ‘Hold’ rating for STAA. Stephens Initiated an Overweight rating on October 14, 2022, and assigned a price target of $91. Mizuho initiated its ‘Buy’ rating for STAA, as published in its report on October 13, 2022. Needham’s report from April 08, 2022 suggests a price prediction of $87 for STAA shares, giving the stock a ‘Buy’ rating. The Benchmark Company also rated the stock as ‘Buy’.
Analysis of STAAR Surgical Company (STAA)
Further, the quarter-over-quarter increase in sales is 30.10%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of STAAR Surgical Company’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of 13.10% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 6.10, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and STAA is recording an average volume of 746.27K. On a monthly basis, the volatility of the stock is set at 6.13%, whereas on a weekly basis, it is put at 5.05%, with a gain of 5.58% over the past seven days. Furthermore, long-term investors anticipate a median target price of $78.22, showing growth from the present price of $70.71, which can serve as yet another indication of whether STAA is worth investing in or should be passed over.
How Do You Analyze STAAR Surgical Company Shares?
STAAR Surgical Company (STAA) is based in the USA and is one of the most prominent companies operating in the Medical Instruments & Supplies market. When comparing STAAR Surgical Company shares with other companies under Healthcare, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 92.31, there is a growth in quarterly earnings of 70.60%.
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.10%. This can enable you to see the extent to which executives own the company’s stock.
Are institutional investors increasing their holdings in STAA shares?
The recent increase in stakes in STAA appears to be a result of several institutional investors and hedge funds increasing their positions. Broadwood Capital, Inc.’s position in STAA has increased by 2.53% in the first quarter. The company now owns 8,808,982 shares of the stock, with a value of $427.59 million, following the purchase of 216,975 additional shares during the last quarter. Baillie Gifford & Co. made another decreased to its shares in STAA during the first quarter, downing its stake by -2.98%. During the last quarter, the company picked up -157,555 additional shares for a total stake of worth $248.9 million, bringing number of shares owned by the company to 5,127,803.
During the first quarter, The Vanguard Group, Inc. added a 54,145 position in STAA. BlackRock Fund Advisors sold an additional 93482.0 shares in the last quarter, decreasing its holdings by -1.85%, now holding 4.96 million shares worth $240.68 million. At the end of the first quarter, SSgA Funds Management, Inc. increased its STAA holdings by 0.47% and now holds 1.56 million STAA shares valued at $75.94 million with the added 7265.0 shares during the period.