Shares of STAAR Surgical (NASDAQ:STAA) have received an average rating of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $82.00.
A number of brokerages recently commented on STAA. Zacks Investment Research cut STAAR Surgical from a “hold” rating to a “sell” rating in a report on Wednesday, March 3rd. BTIG Research reissued a “hold” rating on shares of STAAR Surgical in a report on Monday, February 8th. Benchmark cut STAAR Surgical from a “buy” rating to a “hold” rating in a report on Tuesday, January 19th. They noted that the move was a valuation call. Finally, Canaccord Genuity raised their price target on STAAR Surgical from $84.00 to $128.00 and gave the company a “buy” rating in a report on Thursday, February 25th.
STAAR Surgical stock traded up $5.50 during trading on Friday, reaching $115.64. The company had a trading volume of 16,359 shares, compared to its average volume of 809,673. STAAR Surgical has a 52 week low of $31.69 and a 52 week high of $128.23. The firm’s 50-day simple moving average is $101.31 and its 200 day simple moving average is $85.21. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 614.77 and a beta of 1.09.
In other news, major shareholder Broadwood Partners, L.P. sold 347,000 shares of the firm’s stock in a transaction dated Tuesday, January 26th. The stock was sold at an average price of $102.33, for a total transaction of $35,508,510.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Caren L. Mason sold 135,000 shares of the firm’s stock in a transaction dated Wednesday, March 3rd. The shares were sold at an average price of $102.20, for a total value of $13,797,000.00. In the last 90 days, insiders have sold 1,047,485 shares of company stock valued at $111,344,039. Company insiders own 3.90% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Carroll Financial Associates Inc. grew its position in shares of STAAR Surgical by 218.6% during the first quarter. Carroll Financial Associates Inc. now owns 446 shares of the medical instruments supplier’s stock valued at $47,000 after purchasing an additional 306 shares in the last quarter. Nisa Investment Advisors LLC grew its position in STAAR Surgical by 60.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,850 shares of the medical instruments supplier’s stock worth $147,000 after acquiring an additional 700 shares in the last quarter. USA Financial Portformulas Corp purchased a new position in STAAR Surgical in the fourth quarter worth about $177,000. Wolff Wiese Magana LLC purchased a new position in STAAR Surgical in the fourth quarter worth about $208,000. Finally, Maryland Capital Management purchased a new position in STAAR Surgical in the fourth quarter worth about $241,000. Hedge funds and other institutional investors own 85.35% 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 Visian implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness.
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