STAAR Surgical’s (STAA) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of STAAR Surgical (NASDAQ:STAA) in a report issued on Tuesday morning,Benzinga reports.

STAA has been the subject of several other research reports. Stephens raised shares of STAAR Surgical to a “hold” rating in a report on Monday, December 2nd. Canaccord Genuity Group reduced their price target on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $42.83.

STAAR Surgical Price Performance

STAA opened at $23.12 on Tuesday. The stock’s 50 day moving average price is $26.31 and its 200 day moving average price is $32.87. The stock has a market cap of $1.14 billion, a P/E ratio of 52.55 and a beta of 0.63. STAAR Surgical has a 12 month low of $22.40 and a 12 month high of $52.68.

Insider Activity at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. purchased 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were purchased at an average price of $24.33 per share, with a total value of $559,590.00. Following the purchase, the insider now owns 10,848,631 shares of the company’s stock, valued at $263,947,192.23. This trade represents a 0.21 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in STAA. Geode Capital Management LLC lifted its holdings 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 valued at $43,641,000 after purchasing an additional 31,212 shares in the last quarter. Mutual of America Capital Management LLC raised its position in STAAR Surgical by 214.7% during the second quarter. Mutual of America Capital Management LLC now owns 26,459 shares of the medical instruments supplier’s stock valued at $1,260,000 after buying an additional 18,051 shares during the period. HighTower Advisors LLC purchased a new stake in STAAR Surgical in the 3rd quarter worth about $336,000. ClariVest Asset Management LLC purchased a new position in STAAR Surgical during the 2nd quarter valued at about $1,223,000. Finally, Algert Global LLC grew its stake in STAAR Surgical by 13.5% during the 2nd quarter. Algert Global LLC now owns 116,655 shares of the medical instruments supplier’s stock valued at $5,554,000 after acquiring an additional 13,901 shares in the last quarter. 96.70% of the stock is owned by hedge funds and other institutional investors.

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.