Stifel Nicolaus Issues Pessimistic Forecast for STAAR Surgical (NASDAQ:STAA) Stock Price

STAAR Surgical (NASDAQ:STAA) had its price objective dropped by equities research analysts at Stifel Nicolaus from $28.00 to $19.00 in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage currently has a “hold” rating on the medical instruments supplier’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 9.83% from the stock’s current price.

A number of other equities research analysts have also recently commented on STAA. Piper Sandler reaffirmed a “neutral” rating on shares of STAAR Surgical in a report on Monday, October 27th. Wedbush initiated coverage on STAAR Surgical in a research note on Tuesday, February 3rd. They issued a “neutral” rating and a $26.00 target price on the stock. Canaccord Genuity Group cut their price target on STAAR Surgical from $30.75 to $22.00 and set a “hold” rating for the company in a research note on Thursday, January 15th. BTIG Research reissued a “neutral” rating on shares of STAAR Surgical in a report on Tuesday, January 6th. Finally, Morgan Stanley started coverage on shares of STAAR Surgical in a report on Friday, January 16th. They set an “underweight” rating and a $13.00 price objective on the stock. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $20.36.

STAAR Surgical Price Performance

NASDAQ STAA opened at $17.30 on Monday. The business’s fifty day moving average is $21.97 and its 200-day moving average is $24.80. The stock has a market capitalization of $860.50 million, a price-to-earnings ratio of -8.87 and a beta of 1.06. STAAR Surgical has a one year low of $13.50 and a one year high of $30.81.

Insider Activity at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. acquired 797,486 shares of STAAR Surgical stock in a transaction that occurred on Friday, November 21st. The stock was bought at an average price of $27.86 per share, with a total value of $22,217,959.96. Following the completion of the purchase, the insider owned 15,019,491 shares in the company, 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 legal filing with the SEC, which is available through this link. Insiders have purchased 1,934,138 shares of company stock valued at $50,485,791 in the last three months. 0.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Broadwood Capital Inc. increased its holdings in shares of STAAR Surgical by 8.5% in the second quarter. Broadwood Capital Inc. now owns 13,519,491 shares of the medical instruments supplier’s stock worth $226,857,000 after purchasing an additional 1,064,227 shares during the period. Soleus Capital Management L.P. grew its position in STAAR Surgical by 16.5% during the second quarter. Soleus Capital Management L.P. now owns 2,984,733 shares of the medical instruments supplier’s stock worth $50,084,000 after buying an additional 421,840 shares in the last quarter. Yunqi Capital Ltd grew its position in STAAR Surgical by 0.3% during the fourth quarter. Yunqi Capital Ltd now owns 2,507,130 shares of the medical instruments supplier’s stock worth $57,890,000 after buying an additional 7,069 shares in the last quarter. Resona Asset Management Co. Ltd. increased its stake in STAAR Surgical by 11.6% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 2,421,836 shares of the medical instruments supplier’s stock worth $40,746,000 after acquiring an additional 252,218 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of STAAR Surgical by 112.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,076,743 shares of the medical instruments supplier’s stock valued at $47,952,000 after acquiring an additional 1,100,484 shares in the last quarter. 96.70% of the stock is owned by institutional investors.

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.