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

STAAR Surgical Company (NASDAQ:STAA) has been given an average rating of “Reduce” by the eleven analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating and ten have issued a hold rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $21.9583.

Several analysts have recently issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of STAAR Surgical in a research report on Wednesday, October 8th. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a report on Tuesday, January 6th. BTIG Research reaffirmed a “neutral” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. Wells Fargo & Company boosted their price objective on shares of STAAR Surgical from $28.00 to $30.75 and gave the company an “equal weight” rating in a research report on Wednesday, December 10th. Finally, Piper Sandler reissued a “neutral” rating on shares of STAAR Surgical in a research note on Monday, October 27th.

STAAR Surgical Stock Performance

Shares of NASDAQ:STAA opened at $20.97 on Friday. The business’s fifty day moving average price is $24.68 and its two-hundred day moving average price is $24.53. The stock has a market cap of $1.04 billion, a PE ratio of -10.75 and a beta of 1.00. STAAR Surgical has a one year low of $13.50 and a one year high of $30.81.

Insiders Place Their Bets

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. purchased 797,486 shares of STAAR Surgical stock in a transaction on Friday, November 21st. The shares were bought at an average price 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 in the company, valued at $418,443,019.26. This trade represents a 5.61% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders acquired 1,934,138 shares of company stock valued at $50,485,791. Insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

Several institutional investors have recently added to or reduced their stakes in STAA. Caitong International Asset Management Co. Ltd boosted its stake in STAAR Surgical by 2,605.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock worth $28,000 after buying an additional 1,016 shares during the last quarter. CWM LLC lifted its holdings in shares of STAAR Surgical by 74.1% during the 2nd quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier’s stock worth $26,000 after acquiring an additional 665 shares during the period. GAMMA Investing LLC boosted its position in shares of 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 last quarter. PNC Financial Services Group Inc. boosted its position in shares of STAAR Surgical by 691.0% in the second quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the medical instruments supplier’s stock worth $61,000 after acquiring an additional 3,151 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in STAAR Surgical by 9,928.9% in the third quarter. Russell Investments Group Ltd. now owns 4,513 shares of the medical instruments supplier’s stock valued at $121,000 after purchasing an additional 4,468 shares during the period. 96.70% of the stock is currently 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. 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.