Stifel Nicolaus Cuts STAAR Surgical (NASDAQ:STAA) Price Target to $20.00

STAAR Surgical (NASDAQ:STAA) had its price target lowered by Stifel Nicolaus from $38.00 to $20.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the medical instruments supplier’s stock.

A number of other equities research analysts have also recently issued reports on the stock. William Blair cut shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a report on Wednesday. Piper Sandler cut their price objective on STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday. Canaccord Genuity Group reduced their target price on STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, December 9th. Mizuho cut STAAR Surgical from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $45.00 to $17.00 in a research note on Wednesday. Finally, Needham & Company LLC reaffirmed 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 issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $28.43.

STAAR Surgical Trading Down 24.7 %

Shares of STAA opened at $16.48 on Wednesday. The company has a market cap of $812.13 million, a price-to-earnings ratio of 37.45 and a beta of 0.62. The company’s fifty day simple moving average is $23.75 and its 200 day simple moving average is $29.24. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $52.68.

Insider Buying and Selling at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. acquired 23,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was acquired at an average price 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 of the company’s stock, valued at $263,947,192.23. This trade represents a 0.21 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 105,876 shares of company stock valued at $2,487,168 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its position in STAAR Surgical by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,174,499 shares of the medical instruments supplier’s stock worth $43,641,000 after buying an additional 31,212 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of STAAR Surgical during the 3rd quarter valued at $336,000. Polar Asset Management Partners Inc. grew its holdings in shares of STAAR Surgical by 44.3% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 168,800 shares of the medical instruments supplier’s stock worth $6,271,000 after purchasing an additional 51,800 shares in the last quarter. JPMorgan Chase & Co. increased its position 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 purchasing an additional 172,779 shares during the period. Finally, Cetera Investment Advisers acquired a new position in STAAR Surgical in the second quarter valued at about $1,135,000. 96.70% of the stock is owned by 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.