STAAR Surgical Company (NASDAQ:STAA) Given Consensus Rating of “Reduce” by Brokerages

STAAR Surgical Company (NASDAQ:STAA) has been given a consensus rating of “Reduce” by the eleven brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating and ten have given a hold rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $23.4167.

A number of brokerages have recently issued reports on STAA. Wells Fargo & Company lifted their price target on STAAR Surgical from $28.00 to $30.75 and gave the stock an “equal weight” rating in a research note on Wednesday, December 10th. Weiss Ratings restated a “sell (d)” rating on shares of STAAR Surgical in a report on Wednesday, October 8th. Canaccord Genuity Group upped their target price on shares of STAAR Surgical from $28.00 to $30.75 and gave the stock a “hold” rating in a report on Tuesday, December 9th. Finally, Piper Sandler reiterated a “neutral” rating on shares of STAAR Surgical in a research report on Monday, October 27th.

Insider Buying and Selling

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. bought 797,486 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were acquired at an average cost of $27.86 per share, with a total value of $22,217,959.96. Following the purchase, the insider directly 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders have bought 1,500,000 shares of company stock valued at $41,061,615. 0.59% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On STAAR Surgical

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Armistice Capital LLC lifted its position in STAAR Surgical by 244.0% during the first quarter. Armistice Capital LLC now owns 3,000,000 shares of the medical instruments supplier’s stock worth $52,890,000 after buying an additional 2,128,000 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of STAAR Surgical in the 3rd quarter worth $48,729,000. Broadwood Capital Inc. raised its holdings in shares of STAAR Surgical by 14.8% during the 1st quarter. Broadwood Capital Inc. now owns 12,455,264 shares of the medical instruments supplier’s stock worth $219,586,000 after acquiring an additional 1,606,633 shares during the period. Magnetar Financial LLC acquired a new position in shares of STAAR Surgical during the 3rd quarter valued at about $32,361,000. Finally, Alpine Associates Management Inc. acquired a new position in shares of STAAR Surgical during the 3rd quarter valued at about $24,535,000. Institutional investors and hedge funds own 96.70% of the company’s stock.

STAAR Surgical Trading Up 4.7%

STAA stock opened at $25.14 on Monday. STAAR Surgical has a 12-month low of $13.50 and a 12-month high of $30.81. The business’s 50-day moving average is $25.92 and its 200 day moving average is $23.87. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -12.89 and a beta of 1.01.

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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.