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

STAAR Surgical Company (NASDAQ:STAA) has received an average rating of “Reduce” from the thirteen research firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $20.3611.

STAA has been the topic of several recent research reports. Morgan Stanley initiated coverage on STAAR Surgical in a research report on Friday, January 16th. They set an “underweight” rating and a $13.00 price target on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of STAAR Surgical in a research note on Thursday, January 22nd. Wells Fargo & Company upped their target price on shares of STAAR Surgical from $28.00 to $30.75 and gave the company an “equal weight” rating in a research note on Wednesday, December 10th. BTIG Research reaffirmed a “neutral” rating on shares of STAAR Surgical in a report on Tuesday, January 6th. Finally, Wedbush began coverage on shares of STAAR Surgical in a research note on Tuesday, February 3rd. They set a “neutral” rating and a $26.00 price target on the stock.

Insider Activity

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. bought 27,485 shares of the company’s stock in a transaction dated Friday, January 9th. The shares were acquired at an average cost of $22.05 per share, with a total value of $606,044.25. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.

Institutional Investors Weigh In On STAAR Surgical

A number of hedge funds have recently bought and sold shares of STAA. Atika Capital Management LLC acquired a new stake in shares of STAAR Surgical in the 2nd quarter valued at about $275,000. Yunqi Capital Ltd increased its holdings in STAAR Surgical by 24.4% in the second quarter. Yunqi Capital Ltd now owns 2,411,288 shares of the medical instruments supplier’s stock valued at $40,461,000 after buying an additional 473,699 shares during the last quarter. Broadwood Capital Inc. raised its stake in 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 valued at $226,857,000 after buying an additional 1,064,227 shares in the last quarter. AXQ Capital LP acquired a new stake in STAAR Surgical during the second quarter valued at approximately $347,000. Finally, Resona Asset Management Co. Ltd. lifted its holdings in STAAR Surgical by 11.6% during 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 buying an additional 252,218 shares during the last quarter. Institutional investors and hedge funds own 96.70% of the company’s stock.

STAAR Surgical Price Performance

Shares of STAA opened at $17.41 on Tuesday. 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 two-hundred day moving average is $24.81. The stock has a market cap of $865.97 million, a PE ratio of -8.93 and a beta of 1.06.

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.