STAAR Surgical (NASDAQ:STAA) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of STAAR Surgical (NASDAQ:STAA) in a research note released on Tuesday,Benzinga reports.

Several other brokerages also recently commented on STAA. Stephens raised STAAR Surgical to a “hold” rating in a research note on Monday, December 2nd. Canaccord Genuity Group lowered their price objective on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, STAAR Surgical presently has a consensus rating of “Hold” and a consensus price target of $42.83.

STAAR Surgical Price Performance

Shares of STAA opened at $23.88 on Tuesday. The firm has a 50 day simple moving average of $26.56 and a two-hundred day simple moving average of $33.01. The company has a market cap of $1.18 billion, a P/E ratio of 54.27 and a beta of 0.63. STAAR Surgical has a one year low of $22.40 and a one year high of $52.68.

Insider Buying and Selling

In related news, major shareholder Broadwood Partners, L.P. bought 23,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average cost of $24.33 per share, with a total value of $559,590.00. Following the transaction, the insider now directly owns 10,848,631 shares in the company, valued at approximately $263,947,192.23. This trade represents a 0.21 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On STAAR Surgical

A number of institutional investors have recently made changes to their positions in STAA. JPMorgan Chase & Co. lifted its stake in shares of STAAR Surgical by 411.7% in the third quarter. JPMorgan Chase & Co. now owns 214,750 shares of the medical instruments supplier’s stock worth $7,978,000 after acquiring an additional 172,779 shares during the period. Exome Asset Management LLC acquired a new stake in STAAR Surgical during the 3rd quarter worth about $1,516,000. Franklin Resources Inc. raised its position in shares of STAAR Surgical by 80.1% in the 3rd quarter. Franklin Resources Inc. now owns 31,844 shares of the medical instruments supplier’s stock worth $1,183,000 after acquiring an additional 14,162 shares in the last quarter. Geode Capital Management LLC raised its position in shares of STAAR Surgical by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,174,499 shares of the medical instruments supplier’s stock worth $43,641,000 after acquiring an additional 31,212 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of STAAR Surgical by 349.4% in the 3rd quarter. Barclays PLC now owns 91,707 shares of the medical instruments supplier’s stock valued at $3,406,000 after purchasing an additional 71,301 shares during the period. Institutional investors own 96.70% of the company’s stock.

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.