STAAR Surgical (NASDAQ:STAA) Receives $42.83 Consensus PT from Analysts

Shares of STAAR Surgical (NASDAQ:STAA) have been assigned an average rating of “Hold” from the nine ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $42.83.

A number of analysts recently issued reports on STAA shares. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research report on Tuesday, January 7th. Canaccord Genuity Group reduced their price target on shares of 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, Stephens raised shares of STAAR Surgical to a “hold” rating in a research report on Monday, December 2nd.

Insiders Place Their Bets

In related news, major shareholder Broadwood Partners, L.P. purchased 8,221 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were purchased 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 directly owns 10,878,007 shares in the company, valued at $233,877,150.50. This represents a 0.08 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought a total of 105,876 shares of company stock valued at $2,487,168 over the last quarter. Company insiders own 1.00% of the company’s stock.

Institutional Trading of STAAR Surgical

Several hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp raised its position in STAAR Surgical by 12.7% in the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock worth $129,000 after acquiring an additional 393 shares in the last quarter. Sei Investments Co. increased its holdings in shares of STAAR Surgical by 2.7% in the 2nd quarter. Sei Investments Co. now owns 15,087 shares of the medical instruments supplier’s stock valued at $718,000 after purchasing an additional 394 shares in the last quarter. Creative Planning lifted its stake in shares of STAAR Surgical by 8.0% in the third quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock valued at $205,000 after purchasing an additional 408 shares during the period. LMR Partners LLP boosted its holdings in STAAR Surgical by 2.2% during the third quarter. LMR Partners LLP now owns 34,712 shares of the medical instruments supplier’s stock worth $1,290,000 after buying an additional 743 shares in the last quarter. Finally, Arcadia Investment Management Corp MI acquired a new position in STAAR Surgical during the third quarter worth about $37,000. Institutional investors and hedge funds own 96.70% of the company’s stock.

STAAR Surgical Price Performance

Shares of STAAR Surgical stock opened at $24.19 on Friday. The stock’s 50 day simple moving average is $24.68 and its 200-day simple moving average is $30.27. The stock has a market cap of $1.19 billion, a P/E ratio of 54.98 and a beta of 0.63. STAAR Surgical has a 1-year low of $21.13 and a 1-year high of $52.68.

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.