Stephens Reaffirms "Equal Weight" Rating for STAAR Surgical (NASDAQ:STAA)

Stephens restated their equal weight rating on shares of STAAR Surgical (NASDAQ:STAA - Free Report) in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a $17.00 price target on the medical instruments supplier's stock.

Several other brokerages have also recently commented on STAA. Piper Sandler decreased their price target on shares of STAAR Surgical from $40.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 12th. Jefferies Financial Group cut shares of STAAR Surgical from a "buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Stifel Nicolaus decreased their price target on shares of STAAR Surgical from $38.00 to $20.00 and set a "buy" rating on the stock in a research note on Wednesday, February 12th. Needham & Company LLC restated a "hold" rating on shares of STAAR Surgical in a research report on Thursday, February 27th. Finally, BTIG Research cut shares of STAAR Surgical from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $25.29.

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STAAR Surgical Stock Down 1.1 %

STAA stock traded down $0.20 during mid-day trading on Tuesday, hitting $17.72. The company had a trading volume of 1,641,674 shares, compared to its average volume of 765,536. The company has a market capitalization of $874.04 million, a price-to-earnings ratio of -43.22 and a beta of 0.66. STAAR Surgical has a 12-month low of $13.50 and a 12-month high of $52.68. The company has a 50-day moving average price of $19.87 and a 200 day moving average price of $25.66.

Insider Buying and Selling

In other news, major shareholder Broadwood Partners, L.P. acquired 259,616 shares of STAAR Surgical stock in a transaction that occurred on Wednesday, February 12th. The shares were bought at an average cost of $14.96 per share, with a total value of $3,883,855.36. Following the transaction, the insider now directly owns 11,137,623 shares of the company's stock, valued at $166,618,840.08. This trade represents a 2.39 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders have bought 1,036,187 shares of company stock valued at $17,239,548 in the last ninety days. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On STAAR Surgical

Hedge funds and other institutional investors have recently modified their holdings of the business. LMR Partners LLP boosted its stake in STAAR Surgical by 2.2% in the third quarter. LMR Partners LLP now owns 34,712 shares of the medical instruments supplier's stock valued at $1,290,000 after acquiring an additional 743 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in STAAR Surgical by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,123 shares of the medical instruments supplier's stock valued at $683,000 after buying an additional 1,044 shares during the period. Quarry LP acquired a new stake in STAAR Surgical during the third quarter valued at $50,000. MetLife Investment Management LLC grew its position in STAAR Surgical by 6.3% during the fourth quarter. MetLife Investment Management LLC now owns 30,396 shares of the medical instruments supplier's stock valued at $738,000 after buying an additional 1,796 shares during the period. Finally, Larson Financial Group LLC grew its position in STAAR Surgical by 78.3% during the third quarter. Larson Financial Group LLC now owns 4,863 shares of the medical instruments supplier's stock valued at $181,000 after buying an additional 2,135 shares during the period. 96.70% of the stock is currently owned by institutional investors.

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.