STAAR Surgical (NASDAQ:STAA) Given Consensus Rating of “Hold” by Analysts

Shares of STAAR Surgical (NASDAQ:STAA) have earned an average recommendation of “Hold” from the ten ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $26.86.

STAA has been the subject of a number of recent analyst reports. Jefferies Financial Group downgraded shares of STAAR Surgical from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Piper Sandler dropped their price target on shares of STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. StockNews.com cut shares of STAAR Surgical from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Mizuho cut shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $45.00 to $17.00 in a research report on Wednesday, February 12th. Finally, Stifel Nicolaus dropped their target price on shares of STAAR Surgical from $38.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th.

STAAR Surgical Stock Performance

Shares of STAA stock opened at $16.47 on Tuesday. STAAR Surgical has a 52-week low of $13.50 and a 52-week high of $52.68. The company has a 50-day simple moving average of $21.55 and a two-hundred day simple moving average of $27.18. The company has a market capitalization of $812.38 million, a price-to-earnings ratio of -40.17 and a beta of 0.62.

Insider Buying and Selling at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. purchased 259,616 shares of STAAR Surgical stock in a transaction dated Wednesday, February 12th. The stock was 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 directly owns 11,137,623 shares of the company’s stock, valued at $166,618,840.08. The trade was a 2.39 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders bought 910,843 shares of company stock worth $15,509,972. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of STAAR Surgical

Large investors have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI bought a new stake in shares of STAAR Surgical in the third quarter worth approximately $37,000. Quarry LP bought a new stake in STAAR Surgical during the third quarter valued at approximately $50,000. Quest Partners LLC bought a new stake in STAAR Surgical during the third quarter valued at approximately $128,000. Van ECK Associates Corp grew its position in 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 valued at $129,000 after buying an additional 393 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in STAAR Surgical during the fourth quarter valued at approximately $180,000. 96.70% of the stock is currently owned by 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.