STAAR Surgical (NASDAQ:STAA) Given Average Rating of “Hold” by Brokerages

Shares of STAAR Surgical (NASDAQ:STAA) have been given an average rating of “Hold” by the nine research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $42.83.

STAA has been the topic of a number of recent research reports. Canaccord Genuity Group cut their target price on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, December 9th. Stephens upgraded STAAR Surgical to a “hold” rating in a research report on Monday, December 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a report on Thursday, October 31st.

STAAR Surgical Stock Performance

Shares of STAA stock opened at $24.54 on Monday. The stock’s 50-day moving average is $26.83 and its two-hundred day moving average is $33.25. STAAR Surgical has a 1 year low of $23.55 and a 1 year high of $52.68. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 55.77 and a beta of 0.59.

Insider Activity at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. acquired 53,500 shares of the stock in a transaction dated Monday, December 16th. The stock was acquired at an average price of $24.24 per share, with a total value of $1,296,840.00. Following the completion of the transaction, the insider now directly owns 10,821,931 shares in the company, valued at approximately $262,323,607.44. This trade represents a 0.50 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. State Street Corp raised its holdings in STAAR Surgical by 0.5% in the third quarter. State Street Corp now owns 1,940,567 shares of the medical instruments supplier’s stock valued at $72,092,000 after buying an additional 10,430 shares during the period. Geode Capital Management LLC raised its holdings in shares of STAAR Surgical by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,174,499 shares of the medical instruments supplier’s stock valued at $43,641,000 after buying an additional 31,212 shares during the period. Geneva Capital Management LLC lifted its position in STAAR Surgical by 0.3% during the 3rd quarter. Geneva Capital Management LLC now owns 695,415 shares of the medical instruments supplier’s stock worth $25,835,000 after acquiring an additional 2,241 shares in the last quarter. Defender Capital LLC. boosted its position in STAAR Surgical by 4.4% in the 3rd quarter. Defender Capital LLC. now owns 677,617 shares of the medical instruments supplier’s stock valued at $25,173,000 after buying an additional 28,430 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in shares of STAAR Surgical by 50.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 592,621 shares of the medical instruments supplier’s stock worth $28,215,000 after buying an additional 197,717 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.