STAAR Surgical’s (STAA) Equal Weight Rating Reaffirmed at Stephens

Stephens restated their equal weight rating on shares of STAAR Surgical (NASDAQ:STAA) in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a $28.00 price objective on the medical instruments supplier’s stock.

STAA has been the topic of several other research reports. BTIG Research cut STAAR Surgical from a “buy” rating to a “neutral” rating in a report on Wednesday. Stifel Nicolaus dropped their price objective on STAAR Surgical from $38.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday. William Blair lowered STAAR Surgical from an “outperform” rating to a “market perform” rating in a report on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a report on Wednesday. Finally, Mizuho downgraded shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and cut their price target for the company from $45.00 to $17.00 in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, STAAR Surgical currently has a consensus rating of “Hold” and an average price target of $28.43.

STAAR Surgical Trading Down 24.7 %

STAAR Surgical stock 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 price-to-earnings ratio of 37.45 and a beta of 0.62. The company’s 50-day moving average price is $23.75 and its two-hundred day moving average price is $29.24.

Insider Transactions at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. bought 53,500 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were acquired at an average cost of $24.24 per share, with a total value of $1,296,840.00. Following the completion of the transaction, the insider now directly owns 10,821,931 shares in the company, valued at approximately $262,323,607.44. The trade was a 0.50 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 105,876 shares of company stock valued at $2,487,168 over the last three months. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STAA. Arcadia Investment Management Corp MI acquired a new stake in STAAR Surgical during the 3rd quarter valued at $37,000. Quarry LP acquired a new position in STAAR Surgical during the third quarter valued at $50,000. Quest Partners LLC acquired a new stake in STAAR Surgical during the 3rd quarter worth about $128,000. Van ECK Associates Corp grew its stake 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 in the last quarter. Finally, nVerses Capital LLC lifted its position in shares of STAAR Surgical by 78.3% in the third quarter. nVerses Capital LLC now owns 4,100 shares of the medical instruments supplier’s stock worth $152,000 after purchasing an additional 1,800 shares in the last quarter. Institutional investors and hedge funds own 96.70% of the company’s stock.

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.