Stifel Nicolaus Cuts STAAR Surgical (NASDAQ:STAA) Price Target to $20.00

STAAR Surgical (NASDAQ:STAA) had its price objective lowered by Stifel Nicolaus from $38.00 to $20.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the medical instruments supplier’s stock.

Several other analysts have also recently issued reports on STAA. William Blair cut shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Mizuho cut shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $45.00 to $17.00 in a research report on Wednesday. Canaccord Genuity Group reduced their price objective on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, December 9th. BTIG Research lowered shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a research report on Wednesday. Finally, Piper Sandler reduced their price objective on shares of STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $26.86.

STAAR Surgical Trading Down 3.8 %

Shares of NASDAQ STAA opened at $15.35 on Wednesday. The firm’s 50-day moving average price is $23.37 and its 200-day moving average price is $28.97. The stock has a market capitalization of $756.45 million, a price-to-earnings ratio of 34.89 and a beta of 0.62. STAAR Surgical has a 12-month low of $13.50 and a 12-month high of $52.68.

Insiders Place Their Bets

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. acquired 259,616 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were purchased at an average cost of $14.96 per share, for a total transaction of $3,883,855.36. Following the completion of the purchase, the insider now owns 11,137,623 shares in the company, valued at approximately $166,618,840.08. This trade represents a 2.39 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have purchased 402,024 shares of company stock worth $6,936,904 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of STAAR Surgical by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 5,855,570 shares of the medical instruments supplier’s stock valued at $142,232,000 after purchasing an additional 319,441 shares in the last quarter. State Street Corp boosted its stake in shares of STAAR Surgical by 0.5% during the third quarter. State Street Corp now owns 1,940,567 shares of the medical instruments supplier’s stock valued at $72,092,000 after purchasing an additional 10,430 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of STAAR Surgical during the fourth quarter valued at approximately $36,411,000. Geode Capital Management LLC boosted its stake in shares of STAAR Surgical by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,174,499 shares of the medical instruments supplier’s stock valued at $43,641,000 after purchasing an additional 31,212 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of STAAR Surgical by 25.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 853,370 shares of the medical instruments supplier’s stock valued at $20,728,000 after purchasing an additional 171,046 shares in the last quarter. 96.70% of the stock is currently owned by institutional investors.

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.