STAAR Surgical (NASDAQ:STAA) Given New $19.00 Price Target at Stifel Nicolaus

STAAR Surgical (NASDAQ:STAA) had its price objective lowered by equities research analysts at Stifel Nicolaus from $28.00 to $19.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the medical instruments supplier’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 8.08% from the stock’s previous close.

A number of other equities research analysts have also weighed in on STAA. Weiss Ratings restated a “sell (d)” rating on shares of STAAR Surgical in a report on Thursday, January 22nd. Wedbush initiated coverage on STAAR Surgical in a research note on Tuesday, February 3rd. They issued a “neutral” rating and a $26.00 price target on the stock. Morgan Stanley started coverage on STAAR Surgical in a report on Friday, January 16th. They set an “underweight” rating and a $13.00 price target for the company. Wells Fargo & Company upped their price objective on STAAR Surgical from $28.00 to $30.75 and gave the stock an “equal weight” rating in a research report on Wednesday, December 10th. Finally, BTIG Research reiterated a “neutral” rating on shares of STAAR Surgical in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $20.36.

STAAR Surgical Stock Performance

Shares of STAA opened at $17.58 on Monday. STAAR Surgical has a 1 year low of $13.50 and a 1 year high of $30.81. The stock has a market capitalization of $874.46 million, a PE ratio of -9.02 and a beta of 1.06. The stock has a 50-day simple moving average of $22.31 and a 200-day simple moving average of $24.82.

Insider Activity at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. bought 27,485 shares of STAAR Surgical stock in a transaction dated Friday, January 9th. The stock was acquired at an average cost of $22.05 per share, with a total value of $606,044.25. Following the acquisition, the insider owned 15,453,629 shares of the company’s stock, valued at approximately $340,752,519.45. This trade represents a 0.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders bought a total of 1,934,138 shares of company stock worth $50,485,791 in the last 90 days. 0.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in STAA. Balyasny Asset Management L.P. acquired a new stake in shares of STAAR Surgical in the third quarter valued at approximately $48,729,000. Magnetar Financial LLC acquired a new stake in STAAR Surgical during the 3rd quarter worth $32,361,000. Broadwood Capital Inc. grew its position in STAAR Surgical by 8.5% during the 2nd quarter. Broadwood Capital Inc. now owns 13,519,491 shares of the medical instruments supplier’s stock worth $226,857,000 after purchasing an additional 1,064,227 shares during the last quarter. Alpine Associates Management Inc. purchased a new position in STAAR Surgical during the 3rd quarter worth $24,535,000. Finally, Defender Capital LLC. acquired a new position in STAAR Surgical in the fourth quarter valued at $15,429,000. Institutional investors and hedge funds 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. 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.