STAAR Surgical Company (NASDAQ:STAA) Given Average Recommendation of “Reduce” by Brokerages

STAAR Surgical Company (NASDAQ:STAA) has been given a consensus rating of “Reduce” by the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $23.4167.

A number of research firms have recently weighed in on STAA. Weiss Ratings reiterated a “sell (d)” rating on shares of STAAR Surgical in a research note on Wednesday, October 8th. Canaccord Genuity Group raised their price target on shares of STAAR Surgical from $28.00 to $30.75 and gave the company a “hold” rating in a research report on Tuesday, December 9th. Wells Fargo & Company lifted their price objective on shares of STAAR Surgical from $28.00 to $30.75 and gave the company an “equal weight” rating in a report on Wednesday, December 10th. Finally, Piper Sandler reissued a “neutral” rating on shares of STAAR Surgical in a research note on Monday, October 27th.

Insider Transactions at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. purchased 797,486 shares of the stock in a transaction on Friday, November 21st. The shares were bought at an average price of $27.86 per share, for a total transaction of $22,217,959.96. Following the completion of the transaction, the insider owned 15,019,491 shares of the company’s stock, valued at $418,443,019.26. This trade represents a 5.61% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders purchased a total of 1,500,000 shares of company stock worth $41,061,615 in the last quarter. Corporate insiders own 0.59% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Amalgamated Bank grew its stake in STAAR Surgical by 3.6% in the 3rd quarter. Amalgamated Bank now owns 14,609 shares of the medical instruments supplier’s stock valued at $393,000 after acquiring an additional 514 shares during the period. CWM LLC raised its position in STAAR Surgical by 74.1% during the second quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier’s stock worth $26,000 after acquiring an additional 665 shares during the period. GAMMA Investing LLC lifted its holdings in 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 purchasing an additional 706 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in STAAR Surgical by 7.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,711 shares of the medical instruments supplier’s stock valued at $213,000 after purchasing an additional 923 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of STAAR Surgical by 4.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 22,168 shares of the medical instruments supplier’s stock valued at $396,000 after purchasing an additional 934 shares during the period. 96.70% of the stock is owned by institutional investors and hedge funds.

STAAR Surgical Price Performance

Shares of STAA opened at $25.14 on Monday. The company’s fifty day moving average price is $25.92 and its 200-day moving average price is $23.87. The firm has a market capitalization of $1.25 billion, a PE ratio of -12.89 and a beta of 1.01. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $30.81.

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.