STAAR Surgical Company (NASDAQ:STAA) Receives Consensus Rating of “Reduce” from Analysts

STAAR Surgical Company (NASDAQ:STAA) has received an average rating of “Reduce” from the eleven research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $20.6667.

Several analysts recently issued reports on the stock. Stifel Nicolaus set a $28.00 price objective on shares of STAAR Surgical and gave the company a “hold” rating in a research note on Thursday, August 7th. Weiss Ratings restated a “sell (d)” rating on shares of STAAR Surgical in a research report on Wednesday, October 8th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $28.00 price target on shares of STAAR Surgical in a report on Tuesday, October 21st. Finally, Piper Sandler reissued a “neutral” rating on shares of STAAR Surgical in a research note on Monday, October 27th.

Insider Buying and Selling at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. acquired 797,486 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was purchased at an average price of $27.86 per share, with a total value of $22,217,959.96. Following the completion of the acquisition, the insider owned 15,019,491 shares of the company’s stock, valued at $418,443,019.26. This trade represents a 5.61% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have bought 1,500,000 shares of company stock worth $41,061,615. Insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

Several institutional investors and hedge funds have recently bought and sold shares of STAA. Amalgamated Bank grew its stake in shares of STAAR Surgical by 3.6% in the 3rd quarter. Amalgamated Bank now owns 14,609 shares of the medical instruments supplier’s stock valued at $393,000 after buying an additional 514 shares during the period. CWM LLC lifted its holdings in STAAR Surgical by 74.1% in the second quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier’s stock valued at $26,000 after acquiring an additional 665 shares during the last quarter. GAMMA Investing LLC grew its position in STAAR Surgical by 61.4% in the third quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock worth $50,000 after acquiring an additional 706 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in STAAR Surgical by 7.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,711 shares of the medical instruments supplier’s stock worth $213,000 after acquiring an additional 923 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in STAAR Surgical by 4.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 22,168 shares of the medical instruments supplier’s stock valued at $396,000 after purchasing an additional 934 shares during the period. 96.70% of the stock is currently owned by institutional investors and hedge funds.

STAAR Surgical Stock Down 0.7%

STAAR Surgical stock opened at $26.03 on Thursday. The company has a fifty day simple moving average of $26.49 and a 200-day simple moving average of $23.02. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -13.49 and a beta of 0.92. STAAR Surgical has a 52-week low of $13.50 and a 52-week high of $30.81.

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.