STAAR Surgical (NASDAQ:STAA) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of STAAR Surgical (NASDAQ:STAA) in a report released on Thursday morning,Benzinga reports.

STAA has been the subject of a number of other reports. Canaccord Genuity Group dropped their price objective on STAAR Surgical from $28.00 to $17.00 and set a “hold” rating for the company in a report on Thursday, February 13th. Stifel Nicolaus dropped their price objective on STAAR Surgical from $38.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Piper Sandler dropped their price objective on STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. William Blair cut shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 12th. Finally, Stephens reaffirmed an “equal weight” rating and set a $28.00 price target on shares of STAAR Surgical in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, STAAR Surgical has a consensus rating of “Hold” and a consensus price target of $26.86.

STAAR Surgical Stock Up 3.5 %

STAA stock opened at $17.69 on Thursday. The company has a market cap of $871.69 million, a price-to-earnings ratio of -43.15 and a beta of 0.62. The business has a fifty day simple moving average of $21.85 and a 200-day simple moving average of $27.59. STAAR Surgical has a 52 week low of $13.50 and a 52 week high of $52.68.

Insider Buying and Selling at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. acquired 23,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders bought a total of 402,024 shares of company stock valued at $6,936,904 in the last ninety days. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI bought a new position in shares of STAAR Surgical during the third quarter worth about $37,000. Quarry LP bought a new position in shares of STAAR Surgical during the third quarter worth about $50,000. Quest Partners LLC bought a new position in shares of STAAR Surgical during the third quarter worth about $128,000. Van ECK Associates Corp lifted its position in shares of 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 purchasing an additional 393 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of STAAR Surgical during the fourth quarter worth about $180,000. 96.70% of the stock is owned by hedge funds and other institutional investors.

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.