Stephens Reiterates “Equal Weight” Rating for STAAR Surgical (NASDAQ:STAA)

STAAR Surgical (NASDAQ:STAA)‘s stock had its “equal weight” rating reaffirmed by equities researchers at Stephens in a research report issued on Wednesday,Benzinga reports. They presently have a $28.00 price objective on the medical instruments supplier’s stock. Stephens’ price target indicates a potential upside of 76.65% from the company’s previous close.

Several other research firms also recently commented on STAA. BTIG Research downgraded shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a research report on Wednesday. William Blair cut shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Canaccord Genuity Group lowered their target price on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, December 9th. Mizuho lowered shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $45.00 to $17.00 in a research report on Wednesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $28.43.

STAAR Surgical Trading Down 27.6 %

NASDAQ STAA traded down $6.03 during trading on Wednesday, reaching $15.85. The company’s stock had a trading volume of 2,765,731 shares, compared to its average volume of 700,355. The business has a 50-day moving average price of $23.94 and a 200-day moving average price of $29.33. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $52.68. The stock has a market capitalization of $781.14 million, a PE ratio of 35.84 and a beta of 0.62.

Insider Transactions at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. acquired 8,221 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were purchased at an average cost of $21.50 per share, with a total value of $176,751.50. Following the completion of the purchase, the insider now owns 10,878,007 shares of the company’s stock, valued at $233,877,150.50. This represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have bought 105,876 shares of company stock valued at $2,487,168. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On STAAR Surgical

A number of institutional investors and hedge funds have recently bought and sold shares of STAA. Truist Financial Corp acquired a new position in STAAR Surgical during the 2nd quarter worth about $268,000. Cetera Investment Advisers acquired a new stake in shares of STAAR Surgical in the second quarter valued at approximately $1,135,000. Exchange Traded Concepts LLC raised its position in STAAR Surgical by 17.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 30,020 shares of the medical instruments supplier’s stock worth $1,115,000 after purchasing an additional 4,498 shares during the last quarter. Creative Planning lifted its holdings in STAAR Surgical by 8.0% during the 3rd quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock worth $205,000 after buying an additional 408 shares in the last quarter. Finally, nVerses Capital LLC boosted its position in STAAR Surgical by 78.3% in the 3rd quarter. nVerses Capital LLC now owns 4,100 shares of the medical instruments supplier’s stock valued at $152,000 after buying an additional 1,800 shares during the last quarter. Institutional investors and hedge funds own 96.70% of the company’s stock.

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.