STAAR Surgical (NASDAQ:STAA) Lowered to “Hold” Rating by Jefferies Financial Group

STAAR Surgical (NASDAQ:STAA) was downgraded by equities researchers at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued on Wednesday,Briefing.com Automated Import reports.

Other equities research analysts also recently issued reports about the company. Stephens reissued an “equal weight” rating and issued a $28.00 target price on shares of STAAR Surgical in a report on Wednesday. Piper Sandler dropped their price target on shares of STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday. William Blair lowered shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Mizuho cut shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $45.00 to $17.00 in a report on Wednesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.43.

STAAR Surgical Price Performance

STAA stock traded down $5.86 during midday trading on Wednesday, hitting $16.02. The stock had a trading volume of 4,433,382 shares, compared to its average volume of 774,386. The firm has a market cap of $789.47 million, a price-to-earnings ratio of 35.96 and a beta of 0.62. The business has a 50-day moving average of $23.94 and a two-hundred day moving average of $29.33. STAAR Surgical has a 52-week low of $13.50 and a 52-week high of $52.68.

Insider Transactions at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. purchased 23,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was acquired at an average cost of $24.33 per share, for a total transaction of $559,590.00. Following the purchase, the insider now directly owns 10,848,631 shares in the company, valued at $263,947,192.23. This trade represents a 0.21 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased 105,876 shares of company stock worth $2,487,168 over the last three months. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On STAAR Surgical

Several hedge funds and other institutional investors have recently modified their holdings of STAA. Van ECK Associates Corp grew its holdings in STAAR Surgical by 12.7% during the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock valued at $129,000 after purchasing an additional 393 shares during the period. Creative Planning raised its stake in shares of STAAR Surgical by 8.0% in the third quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock worth $205,000 after buying an additional 408 shares during the period. LMR Partners LLP lifted its position in shares of STAAR Surgical by 2.2% during the 3rd quarter. LMR Partners LLP now owns 34,712 shares of the medical instruments supplier’s stock valued at $1,290,000 after buying an additional 743 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of STAAR Surgical during the 3rd quarter valued at approximately $37,000. Finally, Quarry LP bought a new position in shares of STAAR Surgical during the 3rd quarter valued at approximately $50,000. 96.70% of the stock is currently owned by hedge funds and other 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.