STAAR Surgical (NASDAQ:STAA) Now Covered by Wedbush

Wedbush initiated coverage on shares of STAAR Surgical (NASDAQ:STAA) in a research note issued to investors on Tuesday. The firm set a “neutral” rating and a $26.00 price target on the medical instruments supplier’s stock. Wedbush’s price target would indicate a potential upside of 44.12% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Wells Fargo & Company lifted their price objective on STAAR Surgical from $28.00 to $30.75 and gave the company an “equal weight” rating in a report on Wednesday, December 10th. Morgan Stanley initiated coverage on shares of STAAR Surgical in a report on Friday, January 16th. They set an “underweight” rating and a $13.00 price target on the stock. BTIG Research reiterated a “neutral” rating on shares of STAAR Surgical in a research report on Tuesday, January 6th. Jefferies Financial Group dropped their price target on shares of STAAR Surgical from $28.00 to $21.50 and set a “buy” rating for the company in a research note on Wednesday, January 28th. Finally, Canaccord Genuity Group lowered their price objective on STAAR Surgical from $30.75 to $22.00 and set a “hold” rating for the company in a research report on Thursday, January 15th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $21.36.

STAAR Surgical Price Performance

STAA opened at $18.04 on Tuesday. The business has a fifty day simple moving average of $23.00 and a 200 day simple moving average of $24.84. The company has a market capitalization of $897.35 million, a PE ratio of -9.25 and a beta of 1.00. STAAR Surgical has a 1 year low of $13.50 and a 1 year high of $30.81.

Insider Activity at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. acquired 27,485 shares of the company’s stock in a transaction on Friday, January 9th. The shares were acquired at an average cost of $22.05 per share, for a total transaction of $606,044.25. Following the purchase, the insider owned 15,453,629 shares in the company, valued at approximately $340,752,519.45. The trade was a 0.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders purchased 1,934,138 shares of company stock valued at $50,485,791 over the last three months. Corporate insiders own 0.59% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in STAA. CWM LLC grew its position 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 purchasing an additional 665 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of STAAR Surgical by 2,605.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock valued at $28,000 after acquiring an additional 1,016 shares in the last quarter. GAMMA Investing LLC increased its position in shares of STAAR Surgical by 61.4% during the third quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock valued at $50,000 after acquiring an additional 706 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in STAAR Surgical by 691.0% during the second quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the medical instruments supplier’s stock worth $61,000 after acquiring an additional 3,151 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in STAAR Surgical by 375.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock worth $99,000 after purchasing an additional 4,673 shares during the last quarter. 96.70% of the stock is 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.