Piper Sandler Lowers STAAR Surgical (NASDAQ:STAA) Price Target to $16.00

STAAR Surgical (NASDAQ:STAA) had its price objective cut by stock analysts at Piper Sandler from $40.00 to $16.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the medical instruments supplier’s stock. Piper Sandler’s target price suggests a potential upside of 0.25% from the company’s current price.

A number of other research firms have also weighed in on STAA. William Blair lowered shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Mizuho lowered shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $45.00 to $17.00 in a research note on Wednesday. BTIG Research lowered shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a research note on Wednesday. Canaccord Genuity Group reduced their price objective on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, December 9th. Finally, Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research note on Wednesday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $26.86.

STAAR Surgical Price Performance

Shares of NASDAQ STAA opened at $15.96 on Wednesday. The stock has a market cap of $786.51 million, a P/E ratio of 36.27 and a beta of 0.62. STAAR Surgical has a 1 year low of $13.50 and a 1 year high of $52.68. The firm has a 50-day moving average of $23.57 and a 200 day moving average of $29.15.

Insider Transactions at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. bought 23,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was bought at an average cost of $24.33 per share, for a total transaction of $559,590.00. Following the completion of the transaction, the insider now owns 10,848,631 shares of the company’s stock, valued at $263,947,192.23. This represents a 0.21 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 105,876 shares of company stock worth $2,487,168 over the last three months. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of STAAR Surgical

Several large investors have recently added to or reduced their stakes in STAA. Arcadia Investment Management Corp MI bought a new stake in STAAR Surgical during the third quarter valued at approximately $37,000. Quarry LP bought a new stake in STAAR Surgical during the third quarter valued at approximately $50,000. Quest Partners LLC purchased a new position in STAAR Surgical during the third quarter valued at approximately $128,000. Van ECK Associates Corp lifted its holdings in STAAR Surgical by 12.7% during the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock valued at $129,000 after purchasing an additional 393 shares in the last quarter. Finally, nVerses Capital LLC lifted its holdings in STAAR Surgical by 78.3% during the third quarter. nVerses Capital LLC now owns 4,100 shares of the medical instruments supplier’s stock valued at $152,000 after purchasing an additional 1,800 shares in the last quarter. 96.70% of the stock is currently owned by institutional investors.

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.