STAAR Surgical (NASDAQ:STAA) Rating Lowered to “Neutral” at BTIG Research

STAAR Surgical (NASDAQ:STAA) was downgraded by research analysts at BTIG Research from a “buy” rating to a “neutral” rating in a report released on Wednesday,Briefing.com Automated Import reports.

A number of other equities research analysts also recently weighed in on the company. Stephens raised STAAR Surgical to a “hold” rating in a research report on Monday, December 2nd. Canaccord Genuity Group decreased their price target 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. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research note on Tuesday, January 7th. Finally, William Blair cut STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $36.50.

STAAR Surgical Price Performance

Shares of STAA stock opened at $21.88 on Wednesday. STAAR Surgical has a 1-year low of $21.13 and a 1-year high of $52.68. The stock’s 50-day moving average is $23.94 and its 200 day moving average is $29.33. The company has a market cap of $1.08 billion, a P/E ratio of 49.73 and a beta of 0.62.

Insider Buying and Selling

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. acquired 8,221 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were bought at an average cost of $21.50 per share, with a total value of $176,751.50. Following the completion of the acquisition, the insider now owns 10,878,007 shares in the company, valued at approximately $233,877,150.50. This trade represents a 0.08 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have purchased a total of 105,876 shares of company stock valued at $2,487,168 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Institutional Trading of STAAR Surgical

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in STAAR Surgical by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 5,855,570 shares of the medical instruments supplier’s stock valued at $142,232,000 after purchasing an additional 319,441 shares during the period. State Street Corp boosted its stake in shares of STAAR Surgical by 0.5% in the third quarter. State Street Corp now owns 1,940,567 shares of the medical instruments supplier’s stock worth $72,092,000 after acquiring an additional 10,430 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of STAAR Surgical by 2.7% in 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 acquiring an additional 31,212 shares during the last quarter. Yunqi Capital Ltd boosted its stake in shares of STAAR Surgical by 48.9% in the fourth quarter. Yunqi Capital Ltd now owns 767,413 shares of the medical instruments supplier’s stock worth $18,640,000 after acquiring an additional 252,113 shares during the last quarter. Finally, Defender Capital LLC. boosted its stake in shares of STAAR Surgical by 3.5% in the fourth quarter. Defender Capital LLC. now owns 701,567 shares of the medical instruments supplier’s stock worth $17,041,000 after acquiring an additional 23,950 shares during the last quarter. 96.70% of the stock is owned by institutional investors and hedge funds.

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.