STAAR Surgical (NASDAQ:STAA) Given New $19.00 Price Target at Stifel Nicolaus

STAAR Surgical (NASDAQ:STAA) had its target price cut by Stifel Nicolaus from $28.00 to $19.00 in a report published on Monday, MarketBeat reports. They currently have a hold rating on the medical instruments supplier’s stock.

A number of other research analysts have also recently weighed in on STAA. Morgan Stanley started coverage on shares of STAAR Surgical in a research report on Friday, January 16th. They set an “underweight” rating and a $13.00 price target on the stock. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. BTIG Research reaffirmed a “neutral” rating on shares of STAAR Surgical in a research report on Tuesday, January 6th. Canaccord Genuity Group lowered their price target on STAAR Surgical from $30.75 to $22.00 and set a “hold” rating for the company in a report on Thursday, January 15th. Finally, Jefferies Financial Group cut their price objective on STAAR Surgical from $28.00 to $21.50 and set a “buy” rating on the stock in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, STAAR Surgical presently has an average rating of “Reduce” and an average target price of $20.36.

STAAR Surgical Price Performance

STAAR Surgical stock opened at $17.41 on Monday. The company has a market cap of $865.97 million, a price-to-earnings ratio of -8.93 and a beta of 1.06. STAAR Surgical has a 12 month low of $13.50 and a 12 month high of $30.81. The stock’s 50-day moving average is $22.14 and its 200-day moving average is $24.81.

Insider Activity

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. purchased 27,485 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were acquired at an average price of $22.05 per share, for a total transaction of $606,044.25. Following the completion of the purchase, the insider owned 15,453,629 shares in the company, valued at $340,752,519.45. The trade was a 0.18% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought 1,934,138 shares of company stock worth $50,485,791 over the last 90 days. 0.59% of the stock is currently owned by insiders.

Hedge Funds Weigh In On STAAR Surgical

A number of hedge funds have recently bought and sold shares of the company. Broadwood Capital Inc. increased its position in STAAR Surgical by 8.5% in 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. grew its position in shares of STAAR Surgical by 16.5% during the second quarter. Soleus Capital Management L.P. now owns 2,984,733 shares of the medical instruments supplier’s stock worth $50,084,000 after acquiring an additional 421,840 shares during the last quarter. Yunqi Capital Ltd grew its position in shares of STAAR Surgical by 3.7% during the third 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 last quarter. Resona Asset Management Co. Ltd. increased its holdings in shares of STAAR Surgical by 11.6% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 2,421,836 shares of the medical instruments supplier’s stock worth $40,746,000 after acquiring an additional 252,218 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in STAAR Surgical in the 3rd quarter valued at about $48,729,000. 96.70% of the stock is currently owned by institutional investors and hedge funds.

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.