STAAR Surgical’s (STAA) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of STAAR Surgical (NASDAQ:STAA) in a report released on Wednesday morning,Benzinga reports.

A number of other brokerages have also recently issued reports on STAA. BTIG Research cut STAAR Surgical from a “buy” rating to a “neutral” rating in a report on Wednesday. Mizuho cut STAAR Surgical from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $45.00 to $17.00 in a report on Wednesday. William Blair cut STAAR Surgical from an “outperform” rating to a “market perform” rating in a report on Wednesday. Stephens upgraded STAAR Surgical to a “hold” rating in a report on Monday, December 2nd. Finally, Canaccord Genuity Group decreased their price target on STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $26.86.

STAAR Surgical Stock Performance

Shares of NASDAQ:STAA opened at $15.35 on Wednesday. STAAR Surgical has a 1 year low of $13.50 and a 1 year high of $52.68. The stock has a market capitalization of $756.45 million, a P/E ratio of 34.89 and a beta of 0.62. The stock has a 50-day simple moving average of $23.37 and a 200-day simple moving average of $28.97.

Insider Buying and Selling at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. bought 259,616 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were bought at an average cost of $14.96 per share, with a total value of $3,883,855.36. Following the transaction, the insider now directly owns 11,137,623 shares in the company, valued at approximately $166,618,840.08. This trade represents a 2.39 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have acquired a total of 402,024 shares of company stock valued at $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 institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp raised its position in shares of 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 in the last quarter. Creative Planning raised its position in shares of STAAR Surgical by 8.0% during the 3rd quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock valued at $205,000 after acquiring an additional 408 shares in the last quarter. LMR Partners LLP raised its position in shares of STAAR Surgical by 2.2% during the 3rd quarter. LMR Partners LLP now owns 34,712 shares of the medical instruments supplier’s stock valued at $1,290,000 after acquiring an additional 743 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of STAAR Surgical during the 3rd quarter valued at approximately $37,000. Finally, Quarry LP acquired a new stake in shares of STAAR Surgical during the 3rd quarter valued at approximately $50,000. 96.70% of the stock is owned by institutional investors and hedge funds.

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.