STAAR Surgical (NASDAQ:STAA) Given Average Rating of “Hold” by Brokerages

STAAR Surgical (NASDAQ:STAA) has received an average recommendation of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $43.33.

Several analysts recently weighed in on the company. Canaccord Genuity Group lowered their price objective on STAAR Surgical from $41.00 to $31.00 and set a “hold” rating for the company in a report on Friday, November 1st. Stifel Nicolaus lowered their price target on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating for the company in a report on Monday, August 26th. Finally, Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research report on Thursday, October 31st.

STAAR Surgical Stock Performance

STAA opened at $26.66 on Friday. The company has a market capitalization of $1.31 billion, a P/E ratio of 60.59 and a beta of 0.61. The company has a 50-day moving average of $31.29 and a 200-day moving average of $37.28. STAAR Surgical has a 1-year low of $26.62 and a 1-year high of $52.68.

Institutional Trading of STAAR Surgical

Institutional investors and hedge funds have recently made changes to their positions in the stock. Swiss National Bank grew its stake in STAAR Surgical by 0.8% during the 1st quarter. Swiss National Bank now owns 77,100 shares of the medical instruments supplier’s stock worth $2,951,000 after buying an additional 600 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of STAAR Surgical by 1.5% during the first quarter. Russell Investments Group Ltd. now owns 36,931 shares of the medical instruments supplier’s stock worth $1,406,000 after acquiring an additional 555 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of STAAR Surgical by 8.4% in the 1st quarter. ProShare Advisors LLC now owns 9,892 shares of the medical instruments supplier’s stock worth $379,000 after acquiring an additional 763 shares during the period. State Board of Administration of Florida Retirement System lifted its position in STAAR Surgical by 11.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 15,441 shares of the medical instruments supplier’s stock valued at $591,000 after purchasing an additional 1,560 shares during the last quarter. Finally, Covestor Ltd boosted its stake in STAAR Surgical by 38.9% during the 1st quarter. Covestor Ltd now owns 2,690 shares of the medical instruments supplier’s stock valued at $103,000 after purchasing an additional 754 shares during the period. 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.