Stephens Reaffirms “Equal Weight” Rating for STAAR Surgical (NASDAQ:STAA)

STAAR Surgical (NASDAQ:STAA)‘s stock had its “equal weight” rating restated by Stephens in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $28.00 price objective on the medical instruments supplier’s stock. Stephens’ price objective points to a potential upside of 75.44% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Mizuho cut 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. William Blair lowered STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note on Wednesday. BTIG Research downgraded STAAR Surgical from a “buy” rating to a “neutral” rating in a research note on Wednesday. Canaccord Genuity Group dropped 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. Finally, Stifel Nicolaus reduced their price objective on shares of STAAR Surgical from $38.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, STAAR Surgical has a consensus rating of “Hold” and an average price target of $26.86.

STAAR Surgical Trading Down 3.2 %

NASDAQ STAA opened at $15.96 on Wednesday. The firm has a market capitalization of $786.51 million, a P/E ratio of 36.27 and a beta of 0.62. The firm’s fifty day moving average price is $23.57 and its two-hundred day moving average price is $29.15. STAAR Surgical has a 1 year low of $13.50 and a 1 year high of $52.68.

Insider Activity

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. acquired 53,500 shares of the company’s stock in a transaction on 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 purchase, the insider now directly owns 10,821,931 shares of the company’s stock, valued at $262,323,607.44. This trade represents a 0.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, 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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC increased its stake in STAAR Surgical by 5.5% during the 4th quarter. Barclays PLC now owns 96,769 shares of the medical instruments supplier’s stock worth $2,351,000 after acquiring an additional 5,062 shares during the period. Grandeur Peak Global Advisors LLC bought a new stake in shares of STAAR Surgical during the 4th quarter valued at $470,000. Raymond James Financial Inc. acquired a new stake in shares of STAAR Surgical during the 4th quarter worth $923,000. Legal & General Group Plc increased its position in shares of STAAR Surgical by 3.8% in the fourth quarter. Legal & General Group Plc now owns 179,270 shares of the medical instruments supplier’s stock worth $4,354,000 after purchasing an additional 6,622 shares during the period. Finally, Invesco Ltd. raised its stake in STAAR Surgical by 7.2% in the fourth quarter. Invesco Ltd. now owns 202,981 shares of the medical instruments supplier’s stock valued at $4,930,000 after purchasing an additional 13,714 shares in the last quarter. 96.70% of the stock is currently 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.