STAAR Surgical (NASDAQ:STAA) Receives $42.83 Average PT from Analysts

STAAR Surgical (NASDAQ:STAA) has been given an average rating of “Hold” by the nine research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $42.83.

A number of research firms recently weighed in on STAA. Canaccord Genuity Group decreased their price target on STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, December 9th. Stifel Nicolaus decreased their target price on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Stephens upgraded shares of STAAR Surgical to a “hold” rating in a report on Monday, December 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research note on Thursday, October 31st.

STAAR Surgical Stock Performance

STAA stock opened at $24.26 on Thursday. The stock has a market capitalization of $1.20 billion, a PE ratio of 55.14 and a beta of 0.59. The company has a fifty day moving average of $28.43 and a 200-day moving average of $34.63. STAAR Surgical has a one year low of $23.72 and a one year high of $52.68.

Insider Buying and Selling at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. purchased 53,500 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were bought at an average cost of $24.24 per share, with a total value of $1,296,840.00. Following the purchase, the insider now directly owns 10,821,931 shares of the company’s stock, valued at approximately $262,323,607.44. This trade represents a 0.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp increased its position in STAAR Surgical by 0.5% during the third quarter. State Street Corp now owns 1,940,567 shares of the medical instruments supplier’s stock worth $72,092,000 after purchasing an additional 10,430 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of STAAR Surgical by 2.7% during 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 buying an additional 31,212 shares during the last quarter. Geneva Capital Management LLC raised its position in shares of STAAR Surgical by 0.3% in the 3rd quarter. Geneva Capital Management LLC now owns 695,415 shares of the medical instruments supplier’s stock worth $25,835,000 after buying an additional 2,241 shares during the period. Defender Capital LLC. boosted its holdings in STAAR Surgical by 4.4% in the third quarter. Defender Capital LLC. now owns 677,617 shares of the medical instruments supplier’s stock valued at $25,173,000 after acquiring an additional 28,430 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in STAAR Surgical by 50.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 592,621 shares of the medical instruments supplier’s stock valued at $28,215,000 after acquiring an additional 197,717 shares during the period. Institutional investors and hedge funds own 96.70% of the company’s stock.

About STAAR Surgical

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.