STAAR Surgical (NASDAQ:STAA) Now Covered by Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of STAAR Surgical (NASDAQ:STAA) in a research report sent to investors on Monday morning, MarketBeat reports. The brokerage issued an equal weight rating and a $17.00 price objective on the medical instruments supplier’s stock.

A number of other equities analysts have also recently weighed in on STAA. StockNews.com cut shares of STAAR Surgical from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research note on Thursday, February 27th. Jefferies Financial Group cut STAAR Surgical from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Mizuho lowered STAAR Surgical from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $45.00 to $17.00 in a report on Wednesday, February 12th. Finally, Piper Sandler cut their price target on STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, STAAR Surgical presently has a consensus rating of “Hold” and an average price target of $24.25.

STAAR Surgical Trading Down 2.1 %

NASDAQ STAA opened at $16.53 on Monday. The stock has a market capitalization of $815.34 million, a price-to-earnings ratio of -40.32 and a beta of 0.75. The business’s 50 day moving average is $17.07 and its two-hundred day moving average is $23.13. STAAR Surgical has a 12-month low of $13.50 and a 12-month high of $49.86.

Insiders Place Their Bets

In related news, major shareholder Broadwood Partners, L.P. acquired 8,200 shares of the company’s stock in a transaction dated Wednesday, April 9th. The stock was bought at an average price of $15.08 per share, with a total value of $123,656.00. Following the purchase, the insider now directly owns 13,518,591 shares in the company, valued at $203,860,352.28. The trade was a 0.06 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders bought 1,742,581 shares of company stock valued at $28,407,543. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

Large investors have recently bought and sold shares of the stock. Resona Asset Management Co. Ltd. purchased a new position in shares of STAAR Surgical in the 4th quarter worth $36,411,000. Vanguard Group Inc. increased its stake in STAAR Surgical by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 5,855,570 shares of the medical instruments supplier’s stock worth $142,232,000 after acquiring an additional 319,441 shares during the last quarter. Yunqi Capital Ltd raised its holdings in shares of STAAR Surgical by 48.9% in the 4th quarter. Yunqi Capital Ltd now owns 767,413 shares of the medical instruments supplier’s stock worth $18,640,000 after purchasing an additional 252,113 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of STAAR Surgical by 411.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 214,750 shares of the medical instruments supplier’s stock valued at $7,978,000 after purchasing an additional 172,779 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of STAAR Surgical by 25.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 853,370 shares of the medical instruments supplier’s stock worth $20,728,000 after purchasing an additional 171,046 shares during the period. Hedge funds and other institutional investors 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.