Jefferies Financial Group Has Lowered Expectations for STAAR Surgical (NASDAQ:STAA) Stock Price

STAAR Surgical (NASDAQ:STAA) had its price target decreased by equities research analysts at Jefferies Financial Group from $28.00 to $21.50 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Jefferies Financial Group’s target price indicates a potential upside of 13.52% from the stock’s previous close.

STAA has been the subject of several other research reports. BTIG Research reaffirmed a “neutral” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. Morgan Stanley began coverage on shares of STAAR Surgical in a research report on Friday, January 16th. They issued an “underweight” rating and a $13.00 price target for the company. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of STAAR Surgical in a research report on Thursday, January 22nd. Finally, Wells Fargo & Company upped their price target on STAAR Surgical from $28.00 to $30.75 and gave the company an “equal weight” rating in a research report on Wednesday, December 10th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $20.78.

STAAR Surgical Price Performance

Shares of STAAR Surgical stock opened at $18.94 on Wednesday. The company’s 50 day moving average price is $23.35 and its two-hundred day moving average price is $24.71. The firm has a market capitalization of $942.08 million, a P/E ratio of -9.71 and a beta of 1.00. STAAR Surgical has a fifty-two week low of $13.50 and a fifty-two week high of $30.81.

Insider Activity at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. bought 27,485 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were acquired at an average cost of $22.05 per share, with a total value of $606,044.25. Following the completion of the purchase, the insider directly owned 15,453,629 shares in the company, valued at $340,752,519.45. The trade was a 0.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders bought 1,934,138 shares of company stock worth $50,485,791. 0.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of STAAR Surgical by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,390 shares of the medical instruments supplier’s stock valued at $518,000 after purchasing an additional 1,267 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of STAAR Surgical by 33.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 544,843 shares of the medical instruments supplier’s stock worth $9,606,000 after buying an additional 136,390 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of STAAR Surgical by 11.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,347 shares of the medical instruments supplier’s stock worth $2,175,000 after buying an additional 12,841 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of 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 acquiring an additional 934 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of STAAR Surgical by 8.0% during the second quarter. State of Alaska Department of Revenue now owns 29,476 shares of the medical instruments supplier’s stock valued at $493,000 after acquiring an additional 2,181 shares during the last quarter. 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.