STAAR Surgical (NASDAQ:STAA) Downgraded to Neutral Rating by BTIG Research

BTIG Research lowered shares of STAAR Surgical (NASDAQ:STAA) from a buy rating to a neutral rating in a report issued on Wednesday morning, Marketbeat reports.

Several other equities research analysts have also recently issued reports on STAA. Stephens upgraded shares of STAAR Surgical to a “hold” rating in a research report on Monday, December 2nd. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a report on Tuesday, January 7th. William Blair cut STAAR Surgical from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, Canaccord Genuity Group cut their target price on STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $28.43.

STAAR Surgical Stock Down 24.7 %

Shares of NASDAQ:STAA opened at $16.48 on Wednesday. STAAR Surgical has a 52-week low of $13.50 and a 52-week high of $52.68. The stock has a market cap of $812.13 million, a P/E ratio of 37.45 and a beta of 0.62. The business has a fifty day moving average of $23.75 and a two-hundred day moving average of $29.24.

Insider Activity at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. bought 8,221 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was bought at an average cost of $21.50 per share, for a total transaction of $176,751.50. Following the acquisition, the insider now directly owns 10,878,007 shares of the company’s stock, valued at $233,877,150.50. The trade was a 0.08 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders purchased 105,876 shares of company stock worth $2,487,168. Insiders own 1.00% of the company’s stock.

Institutional Trading of STAAR Surgical

A number of institutional investors and hedge funds have recently bought and sold shares of STAA. WINTON GROUP Ltd grew its holdings in shares of 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 purchasing an additional 12,496 shares in the last quarter. Vanguard Group Inc. boosted its position in 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 valued at $142,232,000 after buying an additional 319,441 shares during the period. LPL Financial LLC grew its stake in shares of STAAR Surgical by 45.3% in the fourth 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 in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of STAAR Surgical in the fourth quarter valued at $180,000. Finally, American Century Companies Inc. boosted its holdings in STAAR Surgical by 70.0% in the fourth quarter. American Century Companies Inc. now owns 13,256 shares of the medical instruments supplier’s stock valued at $322,000 after purchasing an additional 5,457 shares during the period. 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.