STAAR Surgical’s (STAA) Hold Rating Reaffirmed at Needham & Company LLC

STAAR Surgical (NASDAQ:STAA)‘s stock had its “hold” rating reissued by analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports.

Several other research firms also recently commented on STAA. BTIG Research downgraded shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a report on Wednesday, February 12th. Stifel Nicolaus lowered their price target on shares of STAAR Surgical from $38.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Piper Sandler lowered their price target on shares of STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. StockNews.com downgraded shares of STAAR Surgical from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Finally, William Blair downgraded shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, STAAR Surgical currently has a consensus rating of “Hold” and a consensus price target of $26.86.

STAAR Surgical Price Performance

STAA stock opened at $17.09 on Thursday. The firm’s fifty day simple moving average is $22.00 and its 200-day simple moving average is $27.66. The company has a market capitalization of $842.13 million, a P/E ratio of -41.68 and a beta of 0.62. STAAR Surgical has a 12 month low of $13.50 and a 12 month high of $52.68.

Insider Buying and Selling at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. acquired 23,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were acquired at an average cost of $24.33 per share, with a total value of $559,590.00. Following the completion of the acquisition, the insider now directly owns 10,848,631 shares in the company, valued at approximately $263,947,192.23. This trade represents a 0.21 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have purchased a total of 402,024 shares of company stock valued at $6,936,904 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On STAAR Surgical

A number of hedge funds have recently modified their holdings of STAA. Creative Planning raised its position in shares of STAAR Surgical by 8.0% in the third quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock valued at $205,000 after buying an additional 408 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of STAAR Surgical by 2.3% in the third quarter. Assenagon Asset Management S.A. now owns 90,434 shares of the medical instruments supplier’s stock valued at $3,360,000 after buying an additional 2,047 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of STAAR Surgical in the third quarter valued at about $37,000. Van ECK Associates Corp raised its position in shares of STAAR Surgical by 12.7% in the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock valued at $129,000 after buying an additional 393 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its position in shares of STAAR Surgical by 1.2% in the third quarter. Kornitzer Capital Management Inc. KS now owns 164,625 shares of the medical instruments supplier’s stock valued at $6,116,000 after buying an additional 1,900 shares during the last quarter. 96.70% of the stock is currently 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.