Jefferies Financial Group Downgrades STAAR Surgical (NASDAQ:STAA) to Hold

STAAR Surgical (NASDAQ:STAA) was downgraded by investment analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Marketbeat.com reports.

Several other analysts have also issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research report on Wednesday. Stifel Nicolaus reduced their price target on shares of STAAR Surgical from $38.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday. Stephens reissued an “equal weight” rating and issued a $28.00 price objective on shares of STAAR Surgical in a research note on Wednesday. William Blair downgraded shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, Canaccord Genuity Group dropped their price objective on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, December 9th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.86.

STAAR Surgical Trading Down 3.2 %

NASDAQ STAA opened at $15.96 on Wednesday. The firm has a market capitalization of $786.51 million, a price-to-earnings ratio of 36.27 and a beta of 0.62. The firm’s 50 day simple moving average is $23.57 and its 200 day simple moving average is $29.15. STAAR Surgical has a 1 year low of $13.50 and a 1 year high of $52.68.

Insider Activity

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. purchased 8,221 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was purchased at an average price of $21.50 per share, with a total value of $176,751.50. Following the completion of the purchase, the insider now owns 10,878,007 shares of the company’s stock, valued at approximately $233,877,150.50. The trade was a 0.08 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last 90 days, insiders acquired 105,876 shares of company stock valued at $2,487,168. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

Several large investors have recently modified their holdings of STAA. Arcadia Investment Management Corp MI bought a new position in STAAR Surgical during the third quarter worth $37,000. Quarry LP bought a new position in STAAR Surgical during the third quarter worth $50,000. Quest Partners LLC bought a new position in STAAR Surgical during the third quarter worth $128,000. Van ECK Associates Corp raised its stake in STAAR Surgical by 12.7% during the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock worth $129,000 after buying an additional 393 shares during the last quarter. Finally, nVerses Capital LLC raised its stake in STAAR Surgical by 78.3% during the third quarter. nVerses Capital LLC now owns 4,100 shares of the medical instruments supplier’s stock worth $152,000 after buying an additional 1,800 shares during the last quarter. 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.