STAAR Surgical (NASDAQ:STAA) Price Target Cut to $16.00 by Analysts at Piper Sandler

STAAR Surgical (NASDAQ:STAA) had its target price cut by equities researchers at Piper Sandler from $40.00 to $16.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the medical instruments supplier’s stock. Piper Sandler’s price objective indicates a potential upside of 10.18% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Mizuho cut shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $45.00 to $17.00 in a research report on Wednesday. BTIG Research downgraded STAAR Surgical from a “buy” rating to a “neutral” rating in a research report on Wednesday. William Blair cut STAAR Surgical from an “outperform” rating to a “market perform” rating in a report on Wednesday. Stephens upgraded STAAR Surgical to a “hold” rating in a report on Monday, December 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research note on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $32.50.

STAAR Surgical Stock Performance

STAA stock opened at $14.52 on Wednesday. The firm has a market cap of $715.64 million, a PE ratio of 33.61 and a beta of 0.62. The firm has a fifty day moving average price of $23.94 and a 200 day moving average price of $29.33. STAAR Surgical has a fifty-two week low of $13.50 and a fifty-two week high of $52.68.

Insiders Place Their Bets

In related news, major shareholder Broadwood Partners, L.P. bought 8,221 shares of STAAR Surgical stock in a transaction dated Thursday, January 16th. The shares were acquired at an average cost of $21.50 per share, with a total value of $176,751.50. Following the completion of the transaction, the insider now owns 10,878,007 shares in the company, valued at $233,877,150.50. The trade was a 0.08 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 105,876 shares of company stock worth $2,487,168 over the last quarter. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Arcadia Investment Management Corp MI purchased a new stake in STAAR Surgical in the third quarter worth about $37,000. Quarry LP bought a new stake in shares of STAAR Surgical in the 3rd quarter valued at about $50,000. Quest Partners LLC purchased a new stake in shares of STAAR Surgical in the 3rd quarter worth approximately $128,000. Van ECK Associates Corp boosted its stake in shares of STAAR Surgical by 12.7% during the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock valued at $129,000 after purchasing an additional 393 shares in the last quarter. Finally, nVerses Capital LLC increased its holdings in STAAR Surgical by 78.3% during the third quarter. nVerses Capital LLC now owns 4,100 shares of the medical instruments supplier’s stock valued at $152,000 after buying an additional 1,800 shares during the period. 96.70% of the stock is currently 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.