STAAR Surgical (NASDAQ:STAA) Given Average Recommendation of “Hold” by Brokerages

STAAR Surgical (NASDAQ:STAA) has been assigned a consensus recommendation of “Hold” from the ten brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $25.29.

Several analysts have recently commented on the stock. Piper Sandler decreased their price target on shares of STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research report on Thursday, February 27th. Jefferies Financial Group downgraded STAAR Surgical from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Stephens reiterated an “equal weight” rating and issued a $17.00 price target on shares of STAAR Surgical in a report on Tuesday, March 18th. Finally, Mizuho cut STAAR Surgical from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $45.00 to $17.00 in a report on Wednesday, February 12th.

Insiders Place Their Bets

In other news, major shareholder Broadwood Partners, L.P. bought 259,616 shares of the stock in a transaction on Wednesday, February 12th. The stock was purchased at an average price of $14.96 per share, with a total value of $3,883,855.36. Following the completion of the purchase, the insider now owns 11,137,623 shares of the company’s stock, valued at approximately $166,618,840.08. This trade represents a 2.39 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have purchased 1,742,581 shares of company stock worth $28,407,543. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

Several institutional investors and hedge funds have recently made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new position in STAAR Surgical in the fourth quarter valued at about $180,000. GAMMA Investing LLC grew its position in shares of STAAR Surgical by 4,086.0% in the 1st quarter. GAMMA Investing LLC now owns 14,651 shares of the medical instruments supplier’s stock valued at $258,000 after purchasing an additional 14,301 shares during the period. Bridgefront Capital LLC increased its stake in STAAR Surgical by 27.2% during the 4th quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier’s stock worth $262,000 after purchasing an additional 2,306 shares in the last quarter. FMR LLC raised its holdings in STAAR Surgical by 79.3% during the 3rd quarter. FMR LLC now owns 7,092 shares of the medical instruments supplier’s stock worth $263,000 after buying an additional 3,136 shares during the period. Finally, Quantbot Technologies LP bought a new position in STAAR Surgical in the fourth quarter valued at approximately $278,000. Institutional investors and hedge funds own 96.70% of the company’s stock.

STAAR Surgical Trading Up 4.6 %

STAA opened at $16.89 on Wednesday. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $49.86. The stock has a market capitalization of $833.10 million, a PE ratio of -41.20 and a beta of 0.75. The firm has a 50-day moving average price of $17.07 and a two-hundred day moving average price of $23.26.

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.