STAAR Surgical (NASDAQ:STAA) Receives Equal Weight Rating from Stephens

STAAR Surgical (NASDAQ:STAA)‘s stock had its “equal weight” rating reaffirmed by investment analysts at Stephens in a research note issued on Tuesday,Benzinga reports. They presently have a $17.00 price objective on the medical instruments supplier’s stock. Stephens’ price objective would indicate a potential downside of 6.85% from the company’s previous close.

Other analysts also recently issued reports about the company. Canaccord Genuity Group decreased their price target on STAAR Surgical from $28.00 to $17.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. William Blair downgraded STAAR Surgical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 12th. StockNews.com downgraded STAAR Surgical from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. BTIG Research downgraded STAAR Surgical from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler decreased their target price on STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, STAAR Surgical presently has an average rating of “Hold” and a consensus price target of $25.29.

STAAR Surgical Price Performance

STAAR Surgical stock opened at $18.25 on Tuesday. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $52.68. The company has a market cap of $900.18 million, a PE ratio of -44.51 and a beta of 0.66. The stock’s 50 day moving average price is $20.08 and its 200 day moving average price is $25.87.

Insider Activity

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. bought 8,221 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was purchased at an average cost of $21.50 per share, for a total transaction 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 $233,877,150.50. This trade represents a 0.08 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 834,343 shares of company stock worth $13,653,542 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On STAAR Surgical

Several institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in STAAR Surgical by 13.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 110,506 shares of the medical instruments supplier’s stock valued at $2,684,000 after purchasing an additional 13,075 shares during the last quarter. Voloridge Investment Management LLC increased its stake in STAAR Surgical by 9.4% in the fourth quarter. Voloridge Investment Management LLC now owns 296,256 shares of the medical instruments supplier’s stock valued at $7,196,000 after purchasing an additional 25,350 shares during the last quarter. Squarepoint Ops LLC increased its stake in STAAR Surgical by 81.3% in the fourth quarter. Squarepoint Ops LLC now owns 117,074 shares of the medical instruments supplier’s stock valued at $2,844,000 after purchasing an additional 52,488 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new position in STAAR Surgical in the fourth quarter valued at $502,000. Finally, Raiffeisen Bank International AG acquired a new position in STAAR Surgical in the fourth quarter valued at $1,926,000. 96.70% of the stock is currently owned by institutional investors and hedge funds.

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.