STAAR Surgical (NASDAQ:STAA) Now Covered by Analysts at Wedbush

Wedbush started coverage on shares of STAAR Surgical (NASDAQ:STAA) in a report released on Tuesday, MarketBeat reports. The brokerage issued a neutral rating and a $26.00 price objective on the medical instruments supplier’s stock.

Several other brokerages have also recently commented on STAA. Morgan Stanley assumed coverage on STAAR Surgical in a research report on Friday, January 16th. They set an “underweight” rating and a $13.00 price target for the company. Wells Fargo & Company upped their price objective 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. Weiss Ratings reissued a “sell (d)” rating on shares of STAAR Surgical in a research note on Thursday, January 22nd. Canaccord Genuity Group lowered their target price on shares of STAAR Surgical from $30.75 to $22.00 and set a “hold” rating on the stock in a report on Thursday, January 15th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of STAAR Surgical in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $21.36.

STAAR Surgical Trading Up 0.6%

Shares of STAA stock opened at $18.15 on Tuesday. The firm’s fifty day moving average price is $22.84 and its two-hundred day moving average price is $24.84. STAAR Surgical has a 1 year low of $13.50 and a 1 year high of $30.81. The firm has a market capitalization of $902.78 million, a P/E ratio of -9.31 and a beta of 1.06.

Insider Activity at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. acquired 797,486 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were bought at an average cost of $27.86 per share, with a total value of $22,217,959.96. Following the completion of the transaction, the insider directly 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired 1,934,138 shares of company stock valued at $50,485,791 in the last 90 days. 0.59% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC lifted its holdings in STAAR Surgical by 74.1% during the 2nd quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier’s stock worth $26,000 after purchasing an additional 665 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in STAAR Surgical by 2,605.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock valued at $28,000 after buying an additional 1,016 shares in the last quarter. GAMMA Investing LLC increased its position in STAAR Surgical by 61.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock worth $50,000 after buying an additional 706 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of STAAR Surgical by 691.0% during the second quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the medical instruments supplier’s stock worth $61,000 after buying an additional 3,151 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of STAAR Surgical by 375.0% during the second quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock worth $99,000 after buying an additional 4,673 shares in the last quarter. Institutional investors and hedge funds own 96.70% of the company’s stock.

Trending Headlines about STAAR Surgical

Here are the key news stories impacting STAAR Surgical this week:

• Positive Sentiment: Wedbush initiated coverage with a “neutral” rating and a $26 price target, implying meaningful upside from current levels; analyst attention and a high target can attract buying interest. Wedbush initiation
• Neutral Sentiment: Board named President/COO Warren Foust and Deborah Andrews as interim co-CEOs while searching for a permanent CEO; appointing insiders stabilizes day-to-day operations but keeps strategic direction and M&A prospects uncertain. STAAR names interim co-CEOs
• Negative Sentiment: Pre-earnings coverage (Zacks) warns STAAR lacks the two key ingredients typically tied to an earnings beat, suggesting risk of a disappointing Q4 report; that, combined with the recent collapse of the proposed Alcon deal and ongoing CEO search, is weighing on investor confidence. Zacks Q4 preview FierceBiotech on failed Alcon deal

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. 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.