STAAR Surgical (NASDAQ:STAA) Price Target Cut to $16.00 by Analysts at Piper Sandler

STAAR Surgical (NASDAQ:STAA) had its target price cut by Piper Sandler from $40.00 to $16.00 in a research report report published on Wednesday,Benzinga reports. They currently have a neutral rating on the medical instruments supplier’s stock.

STAA has been the topic of several other reports. Mizuho lowered shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $45.00 to $17.00 in a research note on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research report on Wednesday. Stephens raised STAAR Surgical to a “hold” rating in a research report on Monday, December 2nd. Canaccord Genuity Group dropped their price target on STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, December 9th. Finally, BTIG Research cut shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $28.43.

STAAR Surgical Trading Down 24.7 %

STAA stock opened at $16.48 on Wednesday. The stock has a market cap of $812.13 million, a P/E ratio of 37.45 and a beta of 0.62. STAAR Surgical has a twelve month low of $13.50 and a twelve month high of $52.68. The company’s 50 day moving average is $23.75 and its two-hundred day moving average is $29.24.

Insider Activity at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. purchased 23,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average price of $24.33 per share, for a total transaction of $559,590.00. Following the acquisition, the insider now directly owns 10,848,631 shares of the company’s stock, valued at $263,947,192.23. This trade represents a 0.21 % 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 have acquired a total of 105,876 shares of company stock worth $2,487,168 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of STAAR Surgical

Institutional investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd increased its holdings in STAAR Surgical by 41.0% in the fourth quarter. WINTON GROUP Ltd now owns 42,964 shares of the medical instruments supplier’s stock valued at $1,044,000 after buying an additional 12,496 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of STAAR Surgical by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 5,855,570 shares of the medical instruments supplier’s stock worth $142,232,000 after acquiring an additional 319,441 shares during the period. LPL Financial LLC grew its holdings in shares of STAAR Surgical by 45.3% in the 4th quarter. LPL Financial LLC now owns 15,994 shares of the medical instruments supplier’s stock worth $388,000 after acquiring an additional 4,989 shares during the period. KLP Kapitalforvaltning AS purchased a new position in STAAR Surgical in the 4th quarter valued at approximately $180,000. Finally, American Century Companies Inc. raised its holdings in STAAR Surgical by 70.0% during the fourth quarter. American Century Companies Inc. now owns 13,256 shares of the medical instruments supplier’s stock worth $322,000 after purchasing an additional 5,457 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.