STAAR Surgical (NASDAQ:STAA) Lowered to Neutral Rating by Mizuho

Mizuho cut shares of STAAR Surgical (NASDAQ:STAA) from an outperform rating to a neutral rating in a report published on Wednesday, MarketBeat.com reports. Mizuho currently has $17.00 target price on the medical instruments supplier’s stock, down from their prior target price of $45.00.

A number of other brokerages have also weighed in on STAA. Canaccord Genuity Group decreased their price target on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, December 9th. BTIG Research cut STAAR Surgical from a “buy” rating to a “neutral” rating in a report on Wednesday. William Blair downgraded STAAR Surgical from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Stephens upgraded 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 report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, STAAR Surgical presently has an average rating of “Hold” and a consensus target price of $28.43.

STAAR Surgical Price Performance

Shares of STAA stock opened at $16.48 on Wednesday. The firm’s 50-day simple moving average is $23.75 and its 200-day simple moving average is $29.24. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $52.68. The firm has a market cap of $812.13 million, a P/E ratio of 37.45 and a beta of 0.62.

Insider Transactions at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. bought 53,500 shares of STAAR Surgical stock in a transaction dated Monday, December 16th. The shares were acquired at an average cost of $24.24 per share, with a total value of $1,296,840.00. Following the completion of the transaction, the insider now owns 10,821,931 shares in the company, valued at approximately $262,323,607.44. This trade represents a 0.50 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 105,876 shares of company stock valued at $2,487,168 over the last quarter. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On STAAR Surgical

A number of large investors have recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI acquired a new position in STAAR Surgical in the 3rd quarter worth $37,000. Quarry LP purchased a new stake in shares of STAAR Surgical during the third quarter worth about $50,000. Quest Partners LLC purchased a new stake in shares of STAAR Surgical during the third quarter worth about $128,000. Van ECK Associates Corp lifted its stake in shares of STAAR Surgical by 12.7% in the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock worth $129,000 after acquiring an additional 393 shares in the last quarter. Finally, nVerses Capital LLC boosted its holdings in STAAR Surgical by 78.3% in the third quarter. nVerses Capital LLC now owns 4,100 shares of the medical instruments supplier’s stock valued at $152,000 after purchasing an additional 1,800 shares during the last quarter. 96.70% of the stock is owned by institutional investors and hedge funds.

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.