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

STAAR Surgical (NASDAQ:STAA)‘s stock had its “hold” rating reaffirmed by analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports.

Other equities analysts also recently issued research reports about the company. BTIG Research downgraded STAAR Surgical from a “buy” rating to a “neutral” rating in a report on Wednesday. William Blair downgraded STAAR Surgical from an “outperform” rating to a “market perform” rating in a report on Wednesday. Stephens upgraded STAAR Surgical to a “hold” rating in a report on Monday, December 2nd. Mizuho downgraded STAAR Surgical from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $45.00 to $17.00 in a report on Wednesday. Finally, Canaccord Genuity Group lowered their price target on STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $26.86.

STAAR Surgical Stock Performance

NASDAQ:STAA opened at $15.96 on Wednesday. The stock’s 50 day moving average price is $23.57 and its 200 day moving average price is $29.15. STAAR Surgical has a 52 week low of $13.50 and a 52 week high of $52.68. The company has a market capitalization of $786.51 million, a P/E ratio of 36.27 and a beta of 0.62.

Insider Activity

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. purchased 53,500 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were purchased at an average price of $24.24 per share, for a total transaction of $1,296,840.00. Following the completion of the purchase, the insider now directly owns 10,821,931 shares of the company’s stock, valued at approximately $262,323,607.44. This represents a 0.50 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders acquired 105,876 shares of company stock valued at $2,487,168. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On STAAR Surgical

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake 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 acquired a new stake in STAAR Surgical during the third quarter worth $336,000. Polar Asset Management Partners Inc. boosted its stake in STAAR Surgical by 44.3% during the third quarter. Polar Asset Management Partners Inc. now owns 168,800 shares of the medical instruments supplier’s stock worth $6,271,000 after buying an additional 51,800 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in STAAR Surgical by 411.7% during the third quarter. JPMorgan Chase & Co. now owns 214,750 shares of the medical instruments supplier’s stock worth $7,978,000 after buying an additional 172,779 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new stake in STAAR Surgical during the second quarter worth $1,135,000. Institutional investors and hedge funds 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.