Canaccord Genuity Group Forecasts Strong Price Appreciation for STAAR Surgical (NASDAQ:STAA) Stock

STAAR Surgical (NASDAQ:STAA) had its price objective hoisted by Canaccord Genuity Group from $17.00 to $20.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a hold rating on the medical instruments supplier’s stock.

A number of other brokerages have also recently issued reports on STAA. Stephens reissued an “equal weight” rating and set a $17.00 target price on shares of STAAR Surgical in a report on Tuesday, March 18th. William Blair cut STAAR Surgical from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Mizuho lowered STAAR Surgical from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $45.00 to $17.00 in a report on Wednesday, February 12th. Jefferies Financial Group downgraded shares of STAAR Surgical from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, Piper Sandler cut their price objective on shares of STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.63.

STAAR Surgical Stock Down 0.9 %

STAA opened at $19.36 on Thursday. The firm has a 50-day moving average price of $17.57 and a 200-day moving average price of $21.92. STAAR Surgical has a twelve month low of $13.50 and a twelve month high of $49.86. The company has a market capitalization of $958.82 million, a price-to-earnings ratio of -47.22 and a beta of 0.65.

Insiders Place Their Bets

In related news, major shareholder Broadwood Partners, L.P. acquired 8,200 shares of the company’s stock in a transaction dated Wednesday, April 9th. The stock was bought at an average cost of $15.08 per share, with a total value of $123,656.00. Following the acquisition, the insider now owns 13,518,591 shares of the company’s stock, valued at approximately $203,860,352.28. The trade was a 0.06 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased a total of 1,742,581 shares of company stock valued at $28,407,543 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On STAAR Surgical

A number of large investors have recently added to or reduced their stakes in the company. 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 valued at $3,406,000 after purchasing an additional 71,301 shares during the last quarter. Franklin Resources Inc. boosted its stake in STAAR Surgical by 80.1% in the third quarter. Franklin Resources Inc. now owns 31,844 shares of the medical instruments supplier’s stock worth $1,183,000 after buying an additional 14,162 shares in the last quarter. JPMorgan Chase & Co. grew its position in STAAR Surgical by 411.7% during the third quarter. JPMorgan Chase & Co. now owns 214,750 shares of the medical instruments supplier’s stock valued at $7,978,000 after acquiring an additional 172,779 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of STAAR Surgical by 21.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 36,374 shares of the medical instruments supplier’s stock worth $884,000 after acquiring an additional 6,354 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of STAAR Surgical by 5,700.9% in the 4th quarter. KBC Group NV now owns 96,585 shares of the medical instruments supplier’s stock worth $2,346,000 after acquiring an additional 94,920 shares during the last quarter. 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.