STAAR Surgical (NASDAQ:STAA) Earns Equal Weight Rating from Stephens

Stephens reiterated their equal weight rating on shares of STAAR Surgical (NASDAQ:STAA) in a report issued on Wednesday morning,Benzinga reports. Stephens currently has a $28.00 price objective on the medical instruments supplier’s stock.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus dropped their target price on shares of STAAR Surgical from $38.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday. Mizuho downgraded shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $45.00 to $17.00 in a report on Wednesday. Piper Sandler dropped their target price on shares of STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday. BTIG Research cut shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a research note on Wednesday. Finally, William Blair cut shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $26.86.

STAAR Surgical Stock Down 3.8 %

Shares of STAA opened at $15.35 on Wednesday. The company has a 50-day simple moving average of $23.37 and a 200-day simple moving average of $28.97. 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 $756.45 million, a PE ratio of 34.89 and a beta of 0.62.

Insider Buying and Selling

In related news, major shareholder Broadwood Partners, L.P. bought 36,532 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average cost of $15.49 per share, with a total value of $565,880.68. Following the completion of the transaction, the insider now owns 11,289,437 shares of the company’s stock, valued at approximately $174,873,379.13. The trade was a 0.32 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders have purchased 402,024 shares of company stock valued at $6,936,904. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On STAAR Surgical

Several hedge funds have recently modified their holdings of STAA. Resona Asset Management Co. Ltd. acquired a new stake in shares of STAAR Surgical in the fourth quarter worth approximately $36,411,000. Vanguard Group Inc. raised 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 buying an additional 319,441 shares during the period. Yunqi Capital Ltd raised its holdings in STAAR Surgical by 48.9% in the fourth quarter. Yunqi Capital Ltd now owns 767,413 shares of the medical instruments supplier’s stock valued at $18,640,000 after buying an additional 252,113 shares during the period. JPMorgan Chase & Co. raised its holdings in STAAR Surgical by 411.7% in the third quarter. JPMorgan Chase & Co. now owns 214,750 shares of the medical instruments supplier’s stock valued at $7,978,000 after buying an additional 172,779 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in STAAR Surgical by 25.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 853,370 shares of the medical instruments supplier’s stock valued at $20,728,000 after buying an additional 171,046 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.