STAAR Surgical (NASDAQ:STAA) Given New $16.00 Price Target at Piper Sandler

STAAR Surgical (NASDAQ:STAA) had its price objective lowered by Piper Sandler from $40.00 to $16.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the medical instruments supplier’s stock.

Other research analysts also recently issued research reports about the stock. William Blair downgraded shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research note on Wednesday. Canaccord Genuity Group lowered their price objective on STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, December 9th. BTIG Research downgraded STAAR Surgical from a “buy” rating to a “neutral” rating in a research report on Wednesday. Finally, Mizuho lowered STAAR Surgical from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $45.00 to $17.00 in a research note on Wednesday. One investment 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $28.43.

STAAR Surgical Price Performance

Shares of STAAR Surgical stock opened at $16.48 on Wednesday. STAAR Surgical has a 1 year low of $13.50 and a 1 year high of $52.68. The business has a 50 day moving average price of $23.75 and a 200 day moving average price of $29.24. The company has a market capitalization of $812.13 million, a P/E ratio of 37.45 and a beta of 0.62.

Insider Buying and Selling

In other news, major shareholder Broadwood Partners, L.P. bought 21,155 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was acquired at an average price of $21.46 per share, for a total transaction of $453,986.30. Following the acquisition, the insider now owns 10,869,786 shares of the company’s stock, valued at $233,265,607.56. This trade represents a 0.20 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders have bought 105,876 shares of company stock valued at $2,487,168. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On STAAR Surgical

Institutional investors have recently bought and sold shares of the business. Arcadia Investment Management Corp MI purchased a new position in shares of STAAR Surgical in the 3rd quarter valued at $37,000. Quarry LP purchased a new position in STAAR Surgical in the third quarter valued at about $50,000. Quest Partners LLC acquired a new position in shares of STAAR Surgical during the third quarter worth about $128,000. Van ECK Associates Corp lifted its stake in shares of STAAR Surgical by 12.7% during 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 in the last quarter. Finally, nVerses Capital LLC grew its stake in shares of STAAR Surgical by 78.3% in the third quarter. nVerses Capital LLC now owns 4,100 shares of the medical instruments supplier’s stock valued at $152,000 after buying an additional 1,800 shares in the last quarter. 96.70% of the stock is currently owned by hedge funds and other institutional investors.

About STAAR Surgical

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.