STAAR Surgical (NASDAQ:STAA) Given New $21.50 Price Target at Jefferies Financial Group

STAAR Surgical (NASDAQ:STAA) had its target price lowered by Jefferies Financial Group from $28.00 to $21.50 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the medical instruments supplier’s stock.

Other equities research analysts have also issued reports about the stock. Morgan Stanley initiated coverage on shares of STAAR Surgical in a report on Friday, January 16th. They set an “underweight” rating and a $13.00 price target for the company. BTIG Research reissued a “neutral” rating on shares of STAAR Surgical in a research report on Tuesday, January 6th. Weiss Ratings reissued a “sell (d)” rating on shares of STAAR Surgical in a research report on Thursday, January 22nd. Wells Fargo & Company lifted their price target on STAAR Surgical from $28.00 to $30.75 and gave the stock an “equal weight” rating in a research note on Wednesday, December 10th. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of STAAR Surgical in a report on Monday, October 27th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $20.78.

STAAR Surgical Price Performance

Shares of NASDAQ STAA opened at $19.15 on Wednesday. The business has a 50-day moving average of $23.52 and a 200-day moving average of $24.75. The company has a market capitalization of $952.52 million, a price-to-earnings ratio of -9.82 and a beta of 1.00. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $30.81.

Insider Activity at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. acquired 797,486 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were acquired at an average price of $27.86 per share, with a total value of $22,217,959.96. Following the acquisition, the insider directly owned 15,019,491 shares in the company, valued at approximately $418,443,019.26. The trade was a 5.61% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought a total of 1,934,138 shares of company stock worth $50,485,791 in the last three months. 0.59% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On STAAR Surgical

Several large investors have recently made changes to their positions in the company. Broadwood Capital Inc. boosted its position in shares of STAAR Surgical by 8.5% during the second quarter. Broadwood Capital Inc. now owns 13,519,491 shares of the medical instruments supplier’s stock worth $226,857,000 after buying an additional 1,064,227 shares during the period. Soleus Capital Management L.P. raised its stake in STAAR Surgical by 16.5% during the 2nd quarter. Soleus Capital Management L.P. now owns 2,984,733 shares of the medical instruments supplier’s stock valued at $50,084,000 after acquiring an additional 421,840 shares in the last quarter. Yunqi Capital Ltd boosted its position in STAAR Surgical by 3.7% during the 3rd quarter. Yunqi Capital Ltd now owns 2,500,061 shares of the medical instruments supplier’s stock worth $67,177,000 after acquiring an additional 88,773 shares during the period. Resona Asset Management Co. Ltd. grew its stake in shares of STAAR Surgical by 11.6% in the second quarter. Resona Asset Management Co. Ltd. now owns 2,421,836 shares of the medical instruments supplier’s stock worth $40,746,000 after purchasing an additional 252,218 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in shares of STAAR Surgical during the third quarter valued at $48,729,000. 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.