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

STAAR Surgical (NASDAQ:STAA)‘s stock had its “hold” rating reiterated by analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports.

STAA has been the subject of a number of other research reports. Stephens upgraded shares of STAAR Surgical to a “hold” rating in a report on Monday, December 2nd. Canaccord Genuity Group cut their price target on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a report on Monday, December 9th. Mizuho downgraded shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $45.00 to $17.00 in a report on Wednesday. William Blair downgraded shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, BTIG Research downgraded shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $36.50.

STAAR Surgical Trading Down 3.2 %

STAA stock opened at $21.88 on Wednesday. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 49.73 and a beta of 0.62. STAAR Surgical has a 12 month low of $21.13 and a 12 month high of $52.68. The firm has a 50-day moving average of $23.94 and a two-hundred day moving average of $29.33.

Insider Buying and Selling at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. acquired 53,500 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was acquired at an average cost of $24.24 per share, with a total value of $1,296,840.00. Following the transaction, the insider now owns 10,821,931 shares in the company, valued at approximately $262,323,607.44. This trade represents a 0.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders acquired 105,876 shares of company stock valued at $2,487,168 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On STAAR Surgical

Several institutional investors have recently modified their holdings of STAA. Arcadia Investment Management Corp MI purchased a new stake in shares of STAAR Surgical during the 3rd quarter worth $37,000. Quarry LP purchased a new stake in shares of STAAR Surgical during the 3rd quarter worth $50,000. Quest Partners LLC purchased a new stake in shares of STAAR Surgical during the 3rd quarter worth $128,000. Van ECK Associates Corp lifted its position in shares of STAAR Surgical by 12.7% during the 3rd quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock worth $129,000 after purchasing an additional 393 shares during the last quarter. Finally, nVerses Capital LLC raised its stake in STAAR Surgical by 78.3% during the 3rd quarter. nVerses Capital LLC now owns 4,100 shares of the medical instruments supplier’s stock worth $152,000 after acquiring an additional 1,800 shares in the last quarter. 96.70% of the stock is owned by hedge funds and other institutional investors.

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.