Stephens Reaffirms “Equal Weight” Rating for STAAR Surgical (NASDAQ:STAA)

Stephens reiterated their equal weight rating on shares of STAAR Surgical (NASDAQ:STAA) in a research report released on Wednesday morning,Benzinga reports. Stephens currently has a $28.00 target price on the medical instruments supplier’s stock.

Several other equities analysts have also weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research report on Wednesday. Canaccord Genuity Group cut their price target on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, December 9th. Piper Sandler cut their target price on STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday. BTIG Research downgraded STAAR Surgical from a “buy” rating to a “neutral” rating in a research note on Wednesday. Finally, Mizuho downgraded STAAR Surgical from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $45.00 to $17.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $28.43.

STAAR Surgical Price Performance

Shares of STAA stock opened at $16.48 on Wednesday. STAAR Surgical has a fifty-two week low of $13.50 and a fifty-two week high of $52.68. The stock’s 50-day moving average is $23.75 and its two-hundred day moving average is $29.24. The firm has a market cap of $812.13 million, a P/E ratio of 37.45 and a beta of 0.62.

Insider Buying and Selling at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. acquired 8,221 shares of STAAR Surgical stock in a transaction dated Thursday, January 16th. The stock was bought 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 of the company’s stock, valued at $233,877,150.50. The trade was a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 105,876 shares of company stock valued at $2,487,168 in the last 90 days. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On STAAR Surgical

Several large investors have recently bought and sold shares of STAA. Vanguard Group Inc. grew its position in STAAR Surgical by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 5,855,570 shares of the medical instruments supplier’s stock worth $142,232,000 after purchasing an additional 319,441 shares during the last quarter. State Street Corp grew its position in STAAR Surgical by 0.5% during the third quarter. State Street Corp now owns 1,940,567 shares of the medical instruments supplier’s stock worth $72,092,000 after buying an additional 10,430 shares in the last quarter. Geode Capital Management LLC increased its stake in STAAR Surgical by 2.7% during 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 acquiring an additional 31,212 shares during the period. Yunqi Capital Ltd raised its holdings in STAAR Surgical by 48.9% in the 4th quarter. Yunqi Capital Ltd now owns 767,413 shares of the medical instruments supplier’s stock valued at $18,640,000 after acquiring an additional 252,113 shares in the last quarter. Finally, Defender Capital LLC. lifted its position in shares of STAAR Surgical by 3.5% in the 4th quarter. Defender Capital LLC. now owns 701,567 shares of the medical instruments supplier’s stock worth $17,041,000 after acquiring an additional 23,950 shares during the period. 96.70% of the stock is currently owned by institutional investors and hedge funds.

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.