STAAR Surgical (NASDAQ:STAA) Given Consensus Recommendation of “Hold” by Brokerages

STAAR Surgical (NASDAQ:STAA) has been assigned an average rating of “Hold” from the eleven brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $24.63.

STAA has been the subject of a number of research analyst reports. Mizuho cut STAAR Surgical from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $45.00 to $17.00 in a report on Wednesday, February 12th. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a report on Thursday, February 27th. Jefferies Financial Group cut STAAR Surgical from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Wells Fargo & Company assumed coverage on STAAR Surgical in a report on Monday, April 21st. They set an “equal weight” rating and a $17.00 price target for the company. Finally, William Blair cut STAAR Surgical from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th.

STAAR Surgical Trading Up 4.9%

NASDAQ STAA opened at $18.29 on Friday. The stock has a market cap of $905.83 million, a PE ratio of -44.61 and a beta of 0.65. STAAR Surgical has a twelve month low of $13.50 and a twelve month high of $49.86. The stock has a fifty day simple moving average of $17.59 and a 200-day simple moving average of $21.65.

Insider Activity

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. purchased 108,720 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were purchased at an average cost of $17.96 per share, for a total transaction of $1,952,611.20. Following the completion of the purchase, the insider now directly owns 12,182,995 shares in the company, valued at $218,806,590.20. This represents a 0.90% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have purchased 1,446,433 shares of company stock valued at $23,957,807. Company insiders own 1.00% of the company’s stock.

Institutional Trading of STAAR Surgical

Institutional investors have recently modified their holdings of the business. US Bancorp DE boosted its stake in shares of STAAR Surgical by 1,693.0% in the first quarter. US Bancorp DE now owns 2,044 shares of the medical instruments supplier’s stock valued at $36,000 after buying an additional 1,930 shares in the last quarter. Brooklyn Investment Group boosted its position in STAAR Surgical by 1,564.0% during the first quarter. Brooklyn Investment Group now owns 2,679 shares of the medical instruments supplier’s stock worth $47,000 after purchasing an additional 2,518 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in STAAR Surgical during the fourth quarter worth $180,000. EntryPoint Capital LLC purchased a new stake in STAAR Surgical during the first quarter worth $189,000. Finally, Bridgefront Capital LLC boosted its position in STAAR Surgical by 27.2% during the fourth quarter. Bridgefront Capital LLC now owns 10,792 shares of the medical instruments supplier’s stock worth $262,000 after purchasing an additional 2,306 shares in the last quarter. 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.