Jefferies Financial Group Cuts STAAR Surgical (NASDAQ:STAA) Price Target to $21.50

STAAR Surgical (NASDAQ:STAA) had its price objective decreased by Jefferies Financial Group from $28.00 to $21.50 in a research report sent to investors on Wednesday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the medical instruments supplier’s stock.

STAA has been the topic of several other reports. BTIG Research reaffirmed a “neutral” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. Weiss Ratings restated a “sell (d)” rating on shares of STAAR Surgical in a research report on Thursday, January 22nd. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a report on Tuesday, January 6th. Morgan Stanley initiated coverage on STAAR Surgical in a research note on Friday, January 16th. They issued an “underweight” rating and a $13.00 target price on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of STAAR Surgical in a research report on Monday, October 27th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $20.78.

STAAR Surgical Stock Performance

NASDAQ STAA opened at $18.95 on Wednesday. The company has a market capitalization of $942.61 million, a P/E ratio of -9.72 and a beta of 1.00. STAAR Surgical has a 52-week low of $13.50 and a 52-week high of $30.81. The company has a fifty day moving average of $23.17 and a 200-day moving average of $24.72.

Insider Buying and Selling at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. bought 797,486 shares of the stock in a transaction dated Friday, November 21st. The stock was bought at an average price of $27.86 per share, for a total transaction of $22,217,959.96. Following the purchase, the insider directly owned 15,019,491 shares in the company, valued at $418,443,019.26. This trade represents a 5.61% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders purchased 1,934,138 shares of company stock worth $50,485,791. 0.59% of the stock is currently owned by corporate insiders.

Institutional Trading of STAAR Surgical

A number of institutional investors and hedge funds have recently bought and sold shares of STAA. Amalgamated Bank increased its holdings in shares of STAAR Surgical by 3.6% in the 3rd quarter. Amalgamated Bank now owns 14,609 shares of the medical instruments supplier’s stock worth $393,000 after purchasing an additional 514 shares in the last quarter. CWM LLC increased its stake in STAAR Surgical by 74.1% in the 2nd quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier’s stock worth $26,000 after buying an additional 665 shares in the last quarter. GAMMA Investing LLC grew its holdings in STAAR Surgical by 61.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock valued at $50,000 after buying an additional 706 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of STAAR Surgical by 7.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,711 shares of the medical instruments supplier’s stock valued at $213,000 after purchasing an additional 923 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of STAAR Surgical by 4.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 22,168 shares of the medical instruments supplier’s stock valued at $396,000 after purchasing an additional 934 shares in the last quarter. 96.70% of the stock is currently owned by 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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.