Needham & Company LLC Reiterates “Hold” Rating for STAAR Surgical (NASDAQ:STAA)

Needham & Company LLC reaffirmed their hold rating on shares of STAAR Surgical (NASDAQ:STAA) in a research report sent to investors on Wednesday,Benzinga reports.

Other equities research analysts have also issued reports about the company. Canaccord Genuity Group dropped 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 research note on Monday, December 2nd. Mizuho cut STAAR Surgical from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $45.00 to $17.00 in a research note on Wednesday. BTIG Research cut STAAR Surgical from a “buy” rating to a “neutral” rating in a research note on Wednesday. Finally, William Blair cut STAAR Surgical from an “outperform” rating to a “market perform” rating 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $26.86.

STAAR Surgical Price Performance

Shares of NASDAQ STAA opened at $15.35 on Wednesday. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $52.68. The business’s fifty day moving average price is $23.37 and its two-hundred day moving average price is $28.97. The firm has a market capitalization of $756.45 million, a PE ratio of 34.89 and a beta of 0.62.

Insider Activity at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. bought 259,616 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was acquired at an average price of $14.96 per share, with a total value of $3,883,855.36. Following the completion of the purchase, the insider now directly owns 11,137,623 shares of the company’s stock, valued at $166,618,840.08. This represents a 2.39 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought 402,024 shares of company stock valued at $6,936,904 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On STAAR Surgical

A number of institutional investors have recently bought and sold shares of STAA. Truist Financial Corp purchased a new position in STAAR Surgical in the 2nd quarter worth about $268,000. Cetera Investment Advisers acquired a new stake in STAAR Surgical during the 2nd quarter worth about $1,135,000. Exchange Traded Concepts LLC boosted its position in STAAR Surgical by 17.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 30,020 shares of the medical instruments supplier’s stock worth $1,115,000 after acquiring an additional 4,498 shares during the period. Creative Planning boosted its position in STAAR Surgical by 8.0% during the 3rd quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock worth $205,000 after acquiring an additional 408 shares during the period. Finally, nVerses Capital LLC boosted its position in STAAR Surgical by 78.3% during the 3rd quarter. nVerses Capital LLC now owns 4,100 shares of the medical instruments supplier’s stock worth $152,000 after acquiring an additional 1,800 shares during the period. Hedge funds and other institutional investors own 96.70% of the company’s stock.

STAAR Surgical Company Profile

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.