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

Shares of STAAR Surgical (NASDAQ:STAA) have received an average recommendation of “Hold” from the ten research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $26.86.

STAA has been the topic of several analyst reports. Jefferies Financial Group downgraded shares of STAAR Surgical from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a report on Thursday, February 27th. StockNews.com downgraded shares of STAAR Surgical from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. BTIG Research downgraded shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a report on Wednesday, February 12th. Finally, Piper Sandler lowered their target price on shares of STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th.

STAAR Surgical Price Performance

Shares of NASDAQ:STAA opened at $16.47 on Tuesday. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $52.68. The company has a market capitalization of $812.38 million, a P/E ratio of -40.17 and a beta of 0.62. The firm’s 50 day simple moving average is $21.55 and its two-hundred day simple moving average is $27.18.

Insider Activity at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. acquired 23,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were acquired at an average price of $24.33 per share, for a total transaction of $559,590.00. Following the completion of the transaction, the insider now directly owns 10,848,631 shares of the company’s stock, valued at approximately $263,947,192.23. The trade was a 0.21 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired a total of 910,843 shares of company stock valued at $15,509,972 over the last 90 days. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of STAA. Arcadia Investment Management Corp MI bought a new position in STAAR Surgical during the third quarter valued at $37,000. Quarry LP bought a new position in shares of STAAR Surgical in the third quarter worth about $50,000. Quest Partners LLC bought a new position in shares of STAAR Surgical in the third quarter worth about $128,000. Van ECK Associates Corp grew its holdings in shares of STAAR Surgical by 12.7% in the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock worth $129,000 after purchasing an additional 393 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of STAAR Surgical in the fourth quarter worth about $180,000. 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.