BTIG Research Downgrades STAAR Surgical (NASDAQ:STAA) to Neutral

BTIG Research downgraded shares of STAAR Surgical (NASDAQ:STAA) from a buy rating to a neutral rating in a report published on Wednesday, MarketBeat reports.

STAA has been the topic of a number of other reports. William Blair cut STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Canaccord Genuity Group cut their target price on STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, December 9th. Stephens raised STAAR Surgical to a “hold” rating in a report on Monday, December 2nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, STAAR Surgical presently has an average rating of “Hold” and a consensus target price of $28.43.

STAAR Surgical Trading Down 24.7 %

Shares of STAA opened at $16.48 on Wednesday. The firm has a market capitalization of $812.13 million, a price-to-earnings ratio of 37.45 and a beta of 0.62. The firm’s fifty day simple moving average is $23.75 and its 200-day simple moving average is $29.24. STAAR Surgical has a twelve month low of $13.50 and a twelve month high of $52.68.

Insider Buying and Selling at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. acquired 8,221 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were bought at an average cost of $21.50 per share, for a total transaction of $176,751.50. Following the completion of the purchase, the insider now owns 10,878,007 shares in the company, valued at $233,877,150.50. This trade represents a 0.08 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders bought 105,876 shares of company stock worth $2,487,168. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On STAAR Surgical

Hedge funds have recently made changes to their positions in the business. Truist Financial Corp purchased a new stake in STAAR Surgical during the 2nd quarter valued at approximately $268,000. Cetera Investment Advisers acquired a new position in shares of STAAR Surgical in the second quarter valued at approximately $1,135,000. Exchange Traded Concepts LLC raised its stake in shares of STAAR Surgical by 17.6% during the third quarter. Exchange Traded Concepts LLC now owns 30,020 shares of the medical instruments supplier’s stock worth $1,115,000 after purchasing an additional 4,498 shares during the last quarter. Creative Planning lifted its holdings in shares of STAAR Surgical by 8.0% during the third quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock worth $205,000 after purchasing an additional 408 shares during the period. Finally, nVerses Capital LLC grew its position in STAAR Surgical by 78.3% in the 3rd quarter. nVerses Capital LLC now owns 4,100 shares of the medical instruments supplier’s stock valued at $152,000 after buying an additional 1,800 shares during the last quarter. Institutional investors and hedge funds own 96.70% of the company’s stock.

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.