STAAR Surgical’s (STAA) Hold Rating Reaffirmed at Needham & Company LLC

STAAR Surgical (NASDAQ:STAA)‘s stock had its “hold” rating reiterated by Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports.

Several other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus cut their price objective on shares of STAAR Surgical from $38.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. BTIG Research cut shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 12th. Stephens restated an “equal weight” rating and set a $28.00 price objective on shares of STAAR Surgical in a research report on Wednesday, February 12th. William Blair cut shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler dropped their price target on shares of STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, STAAR Surgical has an average rating of “Hold” and an average price target of $26.86.

STAAR Surgical Trading Up 3.0 %

STAAR Surgical stock opened at $17.09 on Thursday. STAAR Surgical has a 12-month low of $13.50 and a 12-month high of $52.68. The stock has a market cap of $842.13 million, a P/E ratio of -41.68 and a beta of 0.62. The company has a 50-day moving average price of $22.00 and a 200 day moving average price of $27.66.

Insider Activity

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. acquired 23,000 shares of the stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average price of $24.33 per share, with a total value of $559,590.00. Following the completion of the purchase, the insider now owns 10,848,631 shares in the company, valued at $263,947,192.23. This trade represents a 0.21 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders acquired 402,024 shares of company stock valued at $6,936,904. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake 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 during the period. HighTower Advisors LLC purchased a new position in STAAR Surgical in the third quarter worth approximately $336,000. Polar Asset Management Partners Inc. lifted its stake in STAAR Surgical by 44.3% in the third quarter. Polar Asset Management Partners Inc. now owns 168,800 shares of the medical instruments supplier’s stock worth $6,271,000 after acquiring an additional 51,800 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in STAAR Surgical by 411.7% in the third quarter. JPMorgan Chase & Co. now owns 214,750 shares of the medical instruments supplier’s stock worth $7,978,000 after acquiring an additional 172,779 shares during the last quarter. Finally, Defender Capital LLC. lifted its stake in STAAR Surgical by 3.5% in the fourth 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 last quarter. Hedge funds and other institutional investors own 96.70% of the company’s stock.

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.