STAAR Surgical (NASDAQ:STAA) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group downgraded shares of STAAR Surgical (NASDAQ:STAA) from a buy rating to a hold rating in a research note issued to investors on Wednesday, Marketbeat.com reports.

A number of other brokerages have also commented on STAA. William Blair lowered STAAR Surgical from an “outperform” rating to a “market perform” rating in a report on Wednesday. BTIG Research lowered STAAR Surgical from a “buy” rating to a “neutral” rating in a report on Wednesday. Stephens reissued an “equal weight” rating and set a $28.00 price objective on shares of STAAR Surgical in a report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a report on Wednesday. Finally, Piper Sandler decreased their price objective on STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.86.

STAAR Surgical Price Performance

Shares of STAAR Surgical stock opened at $15.35 on Wednesday. STAAR Surgical has a one year low of $13.50 and a one year high of $52.68. The firm has a market capitalization of $756.45 million, a price-to-earnings ratio of 34.89 and a beta of 0.62. The business has a 50-day simple moving average of $23.37 and a 200 day simple moving average of $28.97.

Insider Transactions at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. acquired 259,616 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were acquired at an average price of $14.96 per share, for a total transaction of $3,883,855.36. Following the completion of the purchase, the insider now owns 11,137,623 shares in the company, valued at approximately $166,618,840.08. This trade represents a 2.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have acquired 402,024 shares of company stock worth $6,936,904 in the last 90 days. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

Several institutional investors have recently bought and sold shares of STAA. Truist Financial Corp purchased a new position in STAAR Surgical in the second quarter valued at approximately $268,000. Cetera Investment Advisers purchased a new stake in shares of STAAR Surgical during the second quarter worth $1,135,000. Exchange Traded Concepts LLC lifted its position in shares of STAAR Surgical by 17.6% during the third quarter. Exchange Traded Concepts LLC now owns 30,020 shares of the medical instruments supplier’s stock worth $1,115,000 after acquiring an additional 4,498 shares in the last quarter. Creative Planning lifted its position 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 worth $205,000 after acquiring an additional 408 shares in the last quarter. Finally, nVerses Capital LLC lifted its position in shares of STAAR Surgical by 78.3% during the third 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 in the last quarter. Hedge funds and other institutional investors own 96.70% of the company’s stock.

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.