STAAR Surgical (NASDAQ:STAA) Price Target Cut to $28.00 by Analysts at Canaccord Genuity Group

STAAR Surgical (NASDAQ:STAA) had its price objective lowered by Canaccord Genuity Group from $31.00 to $28.00 in a report published on Monday,Benzinga reports. The firm currently has a hold rating on the medical instruments supplier’s stock.

Other equities analysts also recently issued reports about the stock. Stephens raised shares of STAAR Surgical to a “hold” rating in a research note on Monday, December 2nd. Stifel Nicolaus dropped their price objective on shares of STAAR Surgical from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $42.83.

STAAR Surgical Stock Performance

Shares of STAA opened at $26.28 on Monday. The stock has a fifty day moving average price of $29.68 and a two-hundred day moving average price of $35.36. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 59.73 and a beta of 0.59. STAAR Surgical has a 52-week low of $25.04 and a 52-week high of $52.68.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in STAA. Arcadia Investment Management Corp MI acquired a new stake in shares of STAAR Surgical during the third quarter worth $37,000. Quarry LP bought a new position in STAAR Surgical during the third quarter worth about $50,000. Quest Partners LLC acquired a new position in shares of STAAR Surgical during the 3rd quarter worth about $128,000. Canada Pension Plan Investment Board bought a new stake in shares of STAAR Surgical in the 2nd quarter valued at about $129,000. Finally, Van ECK Associates Corp raised its position in shares of STAAR Surgical by 12.7% in the 3rd quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock valued at $129,000 after acquiring an additional 393 shares during the period. Institutional investors and hedge funds own 96.70% of the company’s stock.

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.