STAAR Surgical (NASDAQ:STAA) Downgraded to “Neutral” Rating by Mizuho

Mizuho downgraded shares of STAAR Surgical (NASDAQ:STAA) from an outperform rating to a neutral rating in a research report released on Wednesday, Marketbeat reports. The firm currently has $17.00 target price on the medical instruments supplier’s stock, down from their prior target price of $45.00.

Several other analysts have also weighed in on STAA. Canaccord Genuity Group lowered their price objective on STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a report on Monday, December 9th. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a report on Tuesday, January 7th. William Blair cut STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Stephens raised shares of STAAR Surgical to a “hold” rating in a report on Monday, December 2nd. Finally, BTIG Research cut 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, eight have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $28.43.

STAAR Surgical Stock Performance

STAA opened at $16.48 on Wednesday. The company has a market capitalization of $812.13 million, a P/E ratio of 37.45 and a beta of 0.62. The company has a 50-day moving average of $23.75 and a 200-day moving average of $29.24. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $52.68.

Insiders Place Their Bets

In other news, major shareholder Broadwood Partners, L.P. purchased 53,500 shares of the stock in a transaction dated Monday, December 16th. The stock was acquired at an average price of $24.24 per share, for a total transaction of $1,296,840.00. Following the completion of the transaction, the insider now owns 10,821,931 shares of the company’s stock, valued at approximately $262,323,607.44. The trade was a 0.50 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have purchased 105,876 shares of company stock valued at $2,487,168 over the last three months. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Arcadia Investment Management Corp MI acquired a new stake in shares of STAAR Surgical in the third quarter valued at approximately $37,000. Quarry LP bought a new position in STAAR Surgical in the 3rd quarter worth approximately $50,000. Quest Partners LLC acquired a new stake in STAAR Surgical in the 3rd quarter valued at approximately $128,000. Van ECK Associates Corp raised its stake in 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 valued at $129,000 after acquiring an additional 393 shares in the last quarter. Finally, nVerses Capital LLC boosted its position 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 during the period. 96.70% of the stock is owned by institutional investors and hedge funds.

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.