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

STAAR Surgical Company (NASDAQ:STAA) has been given a consensus recommendation of “Reduce” by the thirteen analysts that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $20.3611.

STAA has been the subject of a number of recent research reports. Morgan Stanley initiated coverage on shares of STAAR Surgical in a research report on Friday, January 16th. They set an “underweight” rating and a $13.00 price objective for the company. Wells Fargo & Company lifted their target price on STAAR Surgical from $28.00 to $30.75 and gave the company an “equal weight” rating in a research note on Wednesday, December 10th. Jefferies Financial Group dropped their price target on STAAR Surgical from $28.00 to $21.50 and set a “buy” rating on the stock in a research report on Wednesday, January 28th. Weiss Ratings reissued a “sell (d)” rating on shares of STAAR Surgical in a report on Thursday, January 22nd. Finally, Stifel Nicolaus reduced their price objective on STAAR Surgical from $28.00 to $19.00 and set a “hold” rating for the company in a research report on Monday.

Insider Activity

In other news, major shareholder Broadwood Partners, L.P. purchased 797,486 shares of the stock in a transaction dated Friday, November 21st. The stock was acquired at an average price of $27.86 per share, for a total transaction of $22,217,959.96. Following the completion of the transaction, the insider owned 15,019,491 shares of the company’s stock, valued at approximately $418,443,019.26. The trade was a 5.61% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have acquired a total of 1,934,138 shares of company stock worth $50,485,791 over the last three months. Insiders own 0.59% of the company’s stock.

Institutional Trading of STAAR Surgical

Several hedge funds have recently bought and sold shares of STAA. CWM LLC boosted its stake in STAAR Surgical by 74.1% during the 2nd quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier’s stock valued at $26,000 after purchasing an additional 665 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in shares of STAAR Surgical by 2,605.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock valued at $28,000 after buying an additional 1,016 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of STAAR Surgical by 61.4% during the third quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock valued at $50,000 after buying an additional 706 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of STAAR Surgical by 691.0% during the second quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the medical instruments supplier’s stock worth $61,000 after buying an additional 3,151 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in STAAR Surgical by 375.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock worth $99,000 after buying an additional 4,673 shares in the last quarter. 96.70% of the stock is currently owned by institutional investors.

STAAR Surgical Stock Performance

Shares of NASDAQ:STAA opened at $17.41 on Tuesday. The company’s fifty day moving average is $22.14 and its two-hundred day moving average is $24.81. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $30.81. The stock has a market capitalization of $865.97 million, a price-to-earnings ratio of -8.93 and a beta of 1.06.

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. 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.