Piper Sandler Cuts STAAR Surgical (NASDAQ:STAA) Price Target to $16.00

STAAR Surgical (NASDAQ:STAA) had its target price reduced by investment analysts at Piper Sandler from $40.00 to $16.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the medical instruments supplier’s stock. Piper Sandler’s target price suggests a potential upside of 10.18% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research report on Wednesday. Stephens raised STAAR Surgical to a “hold” rating in a report on Monday, December 2nd. Mizuho downgraded STAAR Surgical from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $45.00 to $17.00 in a report on Wednesday. William Blair downgraded STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, Canaccord Genuity Group reduced 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, STAAR Surgical has a consensus rating of “Hold” and an average price target of $32.50.

STAAR Surgical Stock Down 33.6 %

Shares of STAA stock opened at $14.52 on Wednesday. The company has a 50 day moving average price of $23.94 and a 200-day moving average price of $29.33. STAAR Surgical has a 52 week low of $13.50 and a 52 week high of $52.68. The firm has a market capitalization of $715.64 million, a PE ratio of 33.61 and a beta of 0.62.

Insider Activity at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. bought 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was bought at an average price of $24.33 per share, with a total value of $559,590.00. Following the acquisition, the insider now owns 10,848,631 shares of the company’s stock, valued at approximately $263,947,192.23. This represents a 0.21 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders purchased 105,876 shares of company stock worth $2,487,168. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On STAAR Surgical

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in STAAR Surgical by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,174,499 shares of the medical instruments supplier’s stock worth $43,641,000 after purchasing an additional 31,212 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of STAAR Surgical during the third quarter worth $336,000. Polar Asset Management Partners Inc. grew its stake in STAAR Surgical by 44.3% during the third quarter. Polar Asset Management Partners Inc. now owns 168,800 shares of the medical instruments supplier’s stock valued at $6,271,000 after acquiring an additional 51,800 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in STAAR Surgical by 411.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 214,750 shares of the medical instruments supplier’s stock valued at $7,978,000 after acquiring an additional 172,779 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new stake in STAAR Surgical in the 2nd quarter worth $1,135,000. Institutional investors 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.