STAAR Surgical (NASDAQ:STAA) Receives “Equal Weight” Rating from Stephens

STAAR Surgical (NASDAQ:STAA)‘s stock had its “equal weight” rating restated by equities researchers at Stephens in a report issued on Tuesday,Benzinga reports. They currently have a $17.00 price target on the medical instruments supplier’s stock. Stephens’ price target suggests a potential downside of 3.18% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. Mizuho cut shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $45.00 to $17.00 in a report on Wednesday, February 12th. Piper Sandler reduced their price objective on STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Stifel Nicolaus lowered their target price on STAAR Surgical from $38.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a report on Thursday, February 27th. Finally, Jefferies Financial Group downgraded shares of STAAR Surgical from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $25.29.

STAAR Surgical Stock Performance

STAAR Surgical stock opened at $17.56 on Tuesday. STAAR Surgical has a fifty-two week low of $13.50 and a fifty-two week high of $52.68. The business’s 50-day simple moving average is $20.29 and its two-hundred day simple moving average is $26.02. The company has a market cap of $866.10 million, a PE ratio of -42.83 and a beta of 0.66.

Insider Buying and Selling

In related news, major shareholder Broadwood Partners, L.P. purchased 21,155 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were purchased at an average cost of $21.46 per share, with a total value of $453,986.30. Following the purchase, the insider now owns 10,869,786 shares of the company’s stock, valued at $233,265,607.56. This represents a 0.20 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders purchased 857,343 shares of company stock valued at $14,213,132. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On STAAR Surgical

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of STAAR Surgical by 2.7% during the third 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 acquired a new stake in STAAR Surgical during the 3rd quarter worth $336,000. Polar Asset Management Partners Inc. grew its holdings in shares of 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 worth $6,271,000 after buying an additional 51,800 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of STAAR Surgical by 411.7% in the third quarter. JPMorgan Chase & Co. now owns 214,750 shares of the medical instruments supplier’s stock valued at $7,978,000 after buying an additional 172,779 shares during the last quarter. Finally, Defender Capital LLC. lifted its stake in shares of STAAR Surgical by 3.5% in the fourth quarter. Defender Capital LLC. now owns 701,567 shares of the medical instruments supplier’s stock worth $17,041,000 after buying an additional 23,950 shares in the last quarter. Hedge funds and other 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.