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

STAAR Surgical (NASDAQ:STAA - Get Free Report)'s stock had its "hold" rating reaffirmed by Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports.

A number of other equities analysts also recently commented on the stock. Canaccord Genuity Group reduced their price objective on shares of STAAR Surgical from $31.00 to $28.00 and set a "hold" rating for the company in a research note on Monday, December 9th. Stephens upgraded shares of STAAR Surgical to a "hold" rating in a research note on Monday, December 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $42.83.

STAAR Surgical Stock Performance

NASDAQ STAA traded up $0.55 on Tuesday, reaching $23.88. The company had a trading volume of 802,267 shares, compared to its average volume of 732,517. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 54.27 and a beta of 0.63. STAAR Surgical has a 1-year low of $22.40 and a 1-year high of $52.68. The company's fifty day moving average is $26.56 and its 200-day moving average is $33.01.

Insider Activity at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. bought 53,500 shares of the business's stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average cost of $24.24 per share, for a total transaction of $1,296,840.00. Following the purchase, the insider now owns 10,821,931 shares of the company's stock, valued at approximately $262,323,607.44. This trade represents a 0.50 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On STAAR Surgical

Several hedge funds have recently bought and sold shares of STAA. Arcadia Investment Management Corp MI bought a new position in STAAR Surgical in the 3rd quarter valued at about $37,000. Quarry LP bought a new position in shares of STAAR Surgical during the third quarter worth approximately $50,000. Quest Partners LLC bought a new position in shares of STAAR Surgical during the third quarter worth approximately $128,000. Canada Pension Plan Investment Board bought a new position in shares of STAAR Surgical during the second quarter worth approximately $129,000. Finally, Van ECK Associates Corp increased its holdings in shares of STAAR Surgical by 12.7% during the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier's stock worth $129,000 after purchasing an additional 393 shares during the period. 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.