STAAR Surgical (NASDAQ:STAA) Given Consensus Recommendation of “Hold” by Analysts

Shares of STAAR Surgical (NASDAQ:STAA) have been given a consensus recommendation of “Hold” by the ten analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $26.86.

A number of research firms have recently commented on STAA. William Blair cut STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th. Jefferies Financial Group downgraded shares of STAAR Surgical from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Piper Sandler decreased their target price on shares of STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Stephens reiterated an “equal weight” rating and issued a $28.00 target price on shares of STAAR Surgical in a research note on Wednesday, February 12th. Finally, BTIG Research downgraded shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 12th.

STAAR Surgical Stock Down 3.9 %

STAAR Surgical stock opened at $16.22 on Tuesday. The stock’s 50 day moving average is $22.32 and its 200 day moving average is $27.88. The company has a market capitalization of $799.32 million, a P/E ratio of -39.56 and a beta of 0.62. STAAR Surgical has a twelve month low of $13.50 and a twelve month high of $52.68.

Insider Activity

In other news, major shareholder Broadwood Partners, L.P. purchased 23,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average cost of $24.33 per share, for a total transaction of $559,590.00. Following the purchase, the insider now directly owns 10,848,631 shares in the company, valued at approximately $263,947,192.23. This represents a 0.21 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders purchased 402,024 shares of company stock valued at $6,936,904 over the last three months. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp grew its stake in shares of STAAR Surgical by 12.7% during the 3rd 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 during the period. Creative Planning grew its position in STAAR Surgical by 8.0% during the third quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock valued at $205,000 after buying an additional 408 shares during the period. LMR Partners LLP grew its position in STAAR Surgical by 2.2% during the third quarter. LMR Partners LLP now owns 34,712 shares of the medical instruments supplier’s stock valued at $1,290,000 after buying an additional 743 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in STAAR Surgical during the third quarter valued at approximately $37,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in STAAR Surgical by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,123 shares of the medical instruments supplier’s stock worth $683,000 after acquiring an additional 1,044 shares during the period. 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.