Piper Sandler Has Lowered Expectations for STAAR Surgical (NASDAQ:STAA) Stock Price

STAAR Surgical (NASDAQ:STAA) had its price target lowered by stock analysts at Piper Sandler from $40.00 to $16.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical instruments supplier’s stock. Piper Sandler’s target price would suggest a potential upside of 0.25% from the stock’s current price.

Several other equities analysts have also commented on STAA. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a report on Wednesday. Mizuho lowered shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $45.00 to $17.00 in a report on Wednesday. William Blair lowered shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a report on Wednesday. Stephens raised shares of STAAR Surgical to a “hold” rating in a research report on Monday, December 2nd. Finally, Canaccord Genuity Group dropped their price target on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, STAAR Surgical has an average rating of “Hold” and a consensus price target of $26.86.

STAAR Surgical Stock Performance

STAA stock opened at $15.96 on Wednesday. STAAR Surgical has a 52 week low of $13.50 and a 52 week high of $52.68. The firm’s fifty day moving average is $23.57 and its 200 day moving average is $29.15. The firm has a market cap of $786.51 million, a P/E ratio of 36.27 and a beta of 0.62.

Insider Transactions at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. bought 8,221 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was purchased at an average cost of $21.50 per share, with a total value of $176,751.50. Following the transaction, the insider now owns 10,878,007 shares in the company, valued at approximately $233,877,150.50. This trade represents a 0.08 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders purchased 105,876 shares of company stock valued at $2,487,168. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On STAAR Surgical

Institutional investors and hedge funds have recently modified their holdings of the stock. Arcadia Investment Management Corp MI purchased a new stake in shares of STAAR Surgical in the 3rd quarter worth about $37,000. Quarry LP purchased a new position in STAAR Surgical during the 3rd quarter valued at about $50,000. Quest Partners LLC purchased a new position in STAAR Surgical during the 3rd quarter valued at about $128,000. Van ECK Associates Corp lifted its position in STAAR Surgical by 12.7% during the 3rd quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock valued at $129,000 after acquiring an additional 393 shares during the period. Finally, nVerses Capital LLC lifted its position in STAAR Surgical by 78.3% during the 3rd quarter. nVerses Capital LLC now owns 4,100 shares of the medical instruments supplier’s stock valued at $152,000 after acquiring an additional 1,800 shares during the period. 96.70% of the stock is owned by hedge funds and other 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.