STAAR Surgical (NASDAQ:STAA) Receives Average Recommendation of “Hold” from Analysts

STAAR Surgical (NASDAQ:STAA) has received an average rating of “Hold” from the ten research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $25.29.

Several brokerages have recently issued reports on STAA. Mizuho downgraded STAAR Surgical from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $45.00 to $17.00 in a research report on Wednesday, February 12th. William Blair lowered STAAR Surgical from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Stifel Nicolaus cut their price target on STAAR Surgical from $38.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Piper Sandler lowered their price objective on shares of STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research report on Thursday, February 27th.

STAAR Surgical Trading Up 4.6 %

NASDAQ:STAA opened at $16.89 on Wednesday. The firm has a market capitalization of $833.10 million, a PE ratio of -41.20 and a beta of 0.75. STAAR Surgical has a 1 year low of $13.50 and a 1 year high of $49.86. The firm’s fifty day simple moving average is $17.07 and its 200 day simple moving average is $23.26.

Insider Buying and Selling at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. acquired 36,532 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were bought at an average cost of $15.49 per share, with a total value of $565,880.68. Following the completion of the acquisition, the insider now owns 11,289,437 shares of the company’s stock, valued at $174,873,379.13. This trade represents a 0.32 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have acquired 1,742,581 shares of company stock valued at $28,407,543 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On STAAR Surgical

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its position in STAAR Surgical by 79.3% in the third quarter. FMR LLC now owns 7,092 shares of the medical instruments supplier’s stock valued at $263,000 after acquiring an additional 3,136 shares during the period. HighTower Advisors LLC bought a new stake in shares of STAAR Surgical in the 3rd quarter worth about $336,000. State Street Corp grew its holdings in shares of STAAR Surgical by 0.5% in the 3rd quarter. State Street Corp now owns 1,940,567 shares of the medical instruments supplier’s stock worth $72,092,000 after purchasing an additional 10,430 shares during the last quarter. Barclays PLC increased its position in shares of STAAR Surgical by 349.4% during the 3rd quarter. Barclays PLC now owns 91,707 shares of the medical instruments supplier’s stock worth $3,406,000 after purchasing an additional 71,301 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in STAAR Surgical by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,174,499 shares of the medical instruments supplier’s stock valued at $43,641,000 after purchasing an additional 31,212 shares during the last quarter. Institutional investors 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.