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

Shares of STAAR Surgical (NASDAQ:STAA) have been given an average rating of “Hold” by the ten research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned 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 $25.29.

Several equities research analysts have issued reports on the company. Piper Sandler cut their target price on STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research report on Thursday, February 27th. William Blair lowered shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th. Mizuho downgraded shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $45.00 to $17.00 in a research note on Wednesday, February 12th. Finally, StockNews.com downgraded shares of STAAR Surgical from a “hold” rating to a “sell” rating in a report on Thursday, February 13th.

Insiders Place Their Bets

In related news, major shareholder Broadwood Partners, L.P. purchased 34,296 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were bought at an average price of $17.44 per share, for a total transaction of $598,122.24. Following the acquisition, the insider now directly owns 12,319,691 shares in the company, valued at $214,855,411.04. This trade represents a 0.28 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 1,070,483 shares of company stock worth $17,837,670 in the last ninety days. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On STAAR Surgical

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP purchased a new stake in shares of STAAR Surgical during the 3rd quarter worth $50,000. Quest Partners LLC acquired a new stake in STAAR Surgical in the third quarter valued at $128,000. KLP Kapitalforvaltning AS purchased a new stake in STAAR Surgical during the 4th quarter worth about $180,000. Larson Financial Group LLC boosted its position in shares of STAAR Surgical by 78.3% during the 3rd quarter. Larson Financial Group LLC now owns 4,863 shares of the medical instruments supplier’s stock worth $181,000 after acquiring an additional 2,135 shares in the last quarter. Finally, Bridgefront Capital LLC increased its holdings in shares of STAAR Surgical by 27.2% in the 4th quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier’s stock valued at $262,000 after acquiring an additional 2,306 shares during the last quarter. 96.70% of the stock is owned by institutional investors and hedge funds.

STAAR Surgical Price Performance

Shares of NASDAQ STAA opened at $17.57 on Friday. The company has a market capitalization of $866.64 million, a P/E ratio of -42.85 and a beta of 0.66. The company has a 50 day simple moving average of $19.61 and a 200-day simple moving average of $25.37. STAAR Surgical has a 1 year low of $13.50 and a 1 year high of $52.68.

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.