Staar Surgical Co. (NASDAQ: STAA) stock fell -1.22% on Friday to $34.83 against a previous-day closing price of $35.26. With 0.71 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.97 million shares. During the session, the Medical Instruments & Supplies company that operates in wider Healthcare sector, reached to the highest price of $35.67 whereas the lowest price it dropped to was $34.60. The 52-week range on STAA shows that it touched its highest point at $81.81 and its lowest point at $32.47 during that stretch. It currently has a 1-year price target of $47.75. Beta for the stock currently stands at 0.97.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of STAA was up-trending over the past week, with a rise of 4.00%, but this was down by -18.30% over a month. Three-month performance dropped to -17.48% while six-month performance fell -44.97%. The stock lost -45.37% in the past year, while it has lost -28.24% so far this year. A look at the trailing 12-month EPS for STAA yields 0.39 with Next year EPS estimates of 1.00. For the next quarter, that number is 0.14. This implies an EPS growth rate of -24.24% for this year and 8.59% for next year.
Float and Shares Shorts:
At present, 48.82 million STAA shares are outstanding with a float of 48.31 million shares on hand for trading. On Oct 30, 2023, short shares totaled 5.73 million, which was 11.74% higher than short shares on Sep 28, 2023. In addition to Mr. Thomas G. Frinzi as the firm’s President, CEO & Chairman, Mr. Patrick F. Williams serves as its Chief Financial Officer.
Through their ownership of 102.47% of STAA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 63.67% of STAA, in contrast to 49.79% held by mutual funds. Shares owned by individuals account for 23.50%. As the largest shareholder in STAA with 20.83% of the stake, Broadwood Capital, Inc. holds 10,102,844 shares worth 10,102,844. A second-largest stockholder of STAA, BlackRock Fund Advisors, holds 6,993,128 shares, controlling over 14.42% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in STAA, holding 5,289,711 shares or 10.91% stake. With a 6.73% stake in STAA, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 3,262,918 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.11% of STAA stock, is the second-largest Mutual Fund holder. It holds 1,508,732 shares valued at 63.1 million. Vanguard Small Cap Index Fund holds 2.58% of the stake in STAA, owning 1,250,090 shares worth 52.28 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for STAA since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With STAA analysts setting a high price target of $56.00 and a low target of $35.00, the average target price over the next 12 months is $47.75. Based on these targets, STAA could surge 60.78% to reach the target high and rise by 0.49% to reach the target low. Reaching the average price target will result in a growth of 37.09% from current levels.
Summary of Insider Activity:
Insiders traded STAA stock several times over the past three months with 16 Buys and 0 Sells. In these transactions, 485,492 shares were bought while 0 shares were sold. The number of buy transactions has increased to 44 while that of sell transactions has risen to 18 over the past year. The total number of shares bought during that period was 889,829 while 14,977 shares were sold.