STAAR Surgical Company (NASDAQ:STAA) Given Consensus Recommendation of “Reduce” by Brokerages

STAAR Surgical Company (NASDAQ:STAA) has been given a consensus recommendation of “Reduce” by the eleven analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and ten have issued a hold rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $20.6667.

A number of equities analysts have recently weighed in on the stock. Mizuho upped their price target on shares of STAAR Surgical from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Stifel Nicolaus set a $28.00 price target on shares of STAAR Surgical and gave the stock a “hold” rating in a research note on Thursday, August 7th. Piper Sandler raised shares of STAAR Surgical to a “hold” rating in a research note on Wednesday, June 18th. Canaccord Genuity Group upped their price target on shares of STAAR Surgical from $20.00 to $28.00 and gave the stock a “hold” rating in a research note on Wednesday, August 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of STAAR Surgical in a research note on Wednesday, October 8th.

STAAR Surgical Stock Down 0.6%

STAA opened at $27.09 on Wednesday. STAAR Surgical has a 12-month low of $13.50 and a 12-month high of $33.13. The firm has a market capitalization of $1.34 billion, a P/E ratio of -14.04 and a beta of 0.82. The stock has a fifty day moving average of $27.35 and a 200-day moving average of $21.07.

Hedge Funds Weigh In On STAAR Surgical

Several hedge funds have recently bought and sold shares of STAA. CWM LLC increased its position in STAAR Surgical by 74.1% during the second quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier’s stock worth $26,000 after buying an additional 665 shares during the last quarter. US Bancorp DE increased its position in STAAR Surgical by 1,693.0% during the first quarter. US Bancorp DE now owns 2,044 shares of the medical instruments supplier’s stock worth $36,000 after buying an additional 1,930 shares during the last quarter. Brooklyn Investment Group increased its position in STAAR Surgical by 1,564.0% during the first quarter. Brooklyn Investment Group now owns 2,679 shares of the medical instruments supplier’s stock worth $47,000 after buying an additional 2,518 shares during the last quarter. GAMMA Investing LLC increased its position in STAAR Surgical by 61.4% during the third quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock worth $50,000 after buying an additional 706 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in STAAR Surgical by 691.0% during the second quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the medical instruments supplier’s stock worth $61,000 after buying an additional 3,151 shares during the last quarter. 96.70% of the stock is owned by institutional investors and hedge funds.

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.