STAAR Surgical (NASDAQ:STAA) Earns Hold Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of STAAR Surgical (NASDAQ:STAA) in a report released on Wednesday morning,Benzinga reports.

A number of other equities analysts have also weighed in on STAA. Mizuho lowered STAAR Surgical from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $45.00 to $17.00 in a research note on Wednesday. William Blair cut STAAR Surgical from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Stephens upgraded STAAR Surgical to a “hold” rating in a research report on Monday, December 2nd. Canaccord Genuity Group dropped their price objective on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, December 9th. Finally, BTIG Research cut shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, STAAR Surgical has an average rating of “Hold” and an average target price of $28.43.

STAAR Surgical Price Performance

NASDAQ:STAA opened at $16.48 on Wednesday. The firm has a market capitalization of $812.13 million, a P/E ratio of 37.45 and a beta of 0.62. The company’s fifty day moving average price is $23.75 and its 200-day moving average price is $29.24. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $52.68.

Insider Activity at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. purchased 23,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were purchased at an average cost of $24.33 per share, with a total value of $559,590.00. Following the purchase, the insider now owns 10,848,631 shares of the company’s stock, valued at $263,947,192.23. This represents a 0.21 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have purchased 105,876 shares of company stock valued at $2,487,168. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On STAAR Surgical

A number of hedge funds have recently made changes to their positions in the company. WINTON GROUP Ltd boosted its stake in shares of STAAR Surgical by 41.0% in the fourth quarter. WINTON GROUP Ltd now owns 42,964 shares of the medical instruments supplier’s stock worth $1,044,000 after acquiring an additional 12,496 shares during the last quarter. Vanguard Group Inc. boosted its stake in STAAR Surgical by 5.8% during the 4th quarter. Vanguard Group Inc. now owns 5,855,570 shares of the medical instruments supplier’s stock worth $142,232,000 after purchasing an additional 319,441 shares during the last quarter. LPL Financial LLC grew its holdings in shares of STAAR Surgical by 45.3% during the fourth quarter. LPL Financial LLC now owns 15,994 shares of the medical instruments supplier’s stock worth $388,000 after buying an additional 4,989 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of STAAR Surgical in the fourth quarter valued at about $180,000. Finally, American Century Companies Inc. lifted its stake in shares of STAAR Surgical by 70.0% in the fourth quarter. American Century Companies Inc. now owns 13,256 shares of the medical instruments supplier’s stock worth $322,000 after buying an additional 5,457 shares in the last quarter. Institutional investors and hedge funds own 96.70% of the company’s stock.

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.