Stifel Nicolaus Lowers STAAR Surgical (NASDAQ:STAA) Price Target to $20.00

STAAR Surgical (NASDAQ:STAA) had its price objective dropped by research analysts at Stifel Nicolaus from $38.00 to $20.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. Stifel Nicolaus’ price objective points to a potential upside of 25.31% from the company’s current price.

Several other equities analysts have also recently commented on the stock. William Blair cut shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a report on Wednesday. BTIG Research downgraded STAAR Surgical from a “buy” rating to a “neutral” rating in a research note on Wednesday. Mizuho downgraded STAAR Surgical from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $45.00 to $17.00 in a research note on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research note on Wednesday. Finally, Piper Sandler cut their price objective on shares of STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday. 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, STAAR Surgical currently has a consensus rating of “Hold” and an average price target of $26.86.

STAAR Surgical Stock Performance

STAA stock opened at $15.96 on Wednesday. The firm has a 50 day simple moving average of $23.57 and a 200 day simple moving average of $29.15. STAAR Surgical has a 52 week low of $13.50 and a 52 week high of $52.68. The stock has a market cap of $786.51 million, a P/E ratio of 36.27 and a beta of 0.62.

Insider Activity at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. purchased 23,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were bought at an average cost of $24.33 per share, with a total value of $559,590.00. Following the transaction, the insider now directly owns 10,848,631 shares in the company, valued at approximately $263,947,192.23. This represents a 0.21 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have bought 105,876 shares of company stock worth $2,487,168. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On STAAR Surgical

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC grew its position in STAAR Surgical by 5.5% in the 4th quarter. Barclays PLC now owns 96,769 shares of the medical instruments supplier’s stock worth $2,351,000 after purchasing an additional 5,062 shares during the last quarter. Grandeur Peak Global Advisors LLC bought a new stake in shares of STAAR Surgical in the fourth quarter valued at about $470,000. Raymond James Financial Inc. acquired a new stake in STAAR Surgical during the fourth quarter worth about $923,000. Legal & General Group Plc increased its stake in STAAR Surgical by 3.8% during the fourth quarter. Legal & General Group Plc now owns 179,270 shares of the medical instruments supplier’s stock valued at $4,354,000 after acquiring an additional 6,622 shares during the period. Finally, Invesco Ltd. raised its holdings in STAAR Surgical by 7.2% in the 4th quarter. Invesco Ltd. now owns 202,981 shares of the medical instruments supplier’s stock valued at $4,930,000 after acquiring an additional 13,714 shares in the last quarter. Institutional investors and hedge funds 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.