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

Needham & Company LLC reaffirmed their hold rating on shares of STAAR Surgical (NASDAQ:STAA) in a research report sent to investors on Wednesday morning,Benzinga reports.

Several other equities analysts have also commented on the company. Canaccord Genuity Group cut their price target on STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, December 9th. Mizuho downgraded shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and cut their target price for the company from $45.00 to $17.00 in a research report on Wednesday. BTIG Research cut shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a research report on Wednesday. William Blair downgraded shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, Stephens upgraded STAAR Surgical to a “hold” rating in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $28.43.

STAAR Surgical Stock Performance

Shares of NASDAQ STAA opened at $16.48 on Wednesday. The stock has a 50 day moving average price of $23.75 and a 200 day moving average price of $29.24. The firm has a market capitalization of $812.13 million, a price-to-earnings ratio of 37.45 and a beta of 0.62. STAAR Surgical has a 52-week low of $13.50 and a 52-week high of $52.68.

Insiders Place Their Bets

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. purchased 8,221 shares of the stock in a transaction on Thursday, January 16th. The stock was acquired at an average price 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 $233,877,150.50. The trade was a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders have bought 105,876 shares of company stock valued at $2,487,168. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On STAAR Surgical

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp increased 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 purchasing an additional 393 shares in the last quarter. Creative Planning grew its holdings in shares of STAAR Surgical by 8.0% during the third quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock valued at $205,000 after buying an additional 408 shares during the last quarter. LMR Partners LLP increased its position in shares of STAAR Surgical by 2.2% in the 3rd quarter. LMR Partners LLP now owns 34,712 shares of the medical instruments supplier’s stock valued at $1,290,000 after acquiring an additional 743 shares during the period. Arcadia Investment Management Corp MI acquired a new position in shares of STAAR Surgical in the 3rd quarter valued at $37,000. Finally, Quarry LP purchased a new position in STAAR Surgical in the 3rd quarter worth $50,000. 96.70% of the stock is owned by hedge funds and other institutional investors.

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.