Needham & Company LLC Reiterates Hold Rating for STAAR Surgical (NASDAQ:STAA)

Needham & Company LLC reaffirmed their hold rating on shares of STAAR Surgical (NASDAQ:STAA - Free Report) in a research note released on Thursday morning,Benzinga reports.

STAA has been the subject of several other research reports. StockNews.com cut shares of STAAR Surgical from a "hold" rating to a "sell" rating in a research report on Thursday, February 13th. Canaccord Genuity Group reduced their price objective on shares of STAAR Surgical from $28.00 to $17.00 and set a "hold" rating for the company in a research note on Thursday, February 13th. BTIG Research cut STAAR Surgical from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 12th. William Blair lowered STAAR Surgical from an "outperform" rating to a "market perform" rating in a research report on Wednesday, February 12th. Finally, Stephens restated an "equal weight" rating and set a $28.00 price objective on shares of STAAR Surgical in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $26.86.

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STAAR Surgical Stock Down 5.9 %

Shares of STAA stock traded down $1.03 on Thursday, hitting $16.47. The stock had a trading volume of 1,350,508 shares, compared to its average volume of 1,112,566. STAAR Surgical has a one year low of $13.50 and a one year high of $52.68. The business has a 50 day moving average price of $21.70 and a 200 day moving average price of $27.32. The company has a market cap of $812.38 million, a PE ratio of -40.17 and a beta of 0.62.

Insider Buying and Selling

In related news, major shareholder Broadwood Partners, L.P. bought 259,616 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was bought at an average cost of $14.96 per share, for a total transaction of $3,883,855.36. Following the purchase, the insider now directly owns 11,137,623 shares of the company's stock, valued at approximately $166,618,840.08. This trade represents a 2.39 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have acquired a total of 402,024 shares of company stock worth $6,936,904 in the last ninety days. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in STAA. Broadwood Capital Inc. grew its holdings in shares of STAAR Surgical by 0.7% during the fourth quarter. Broadwood Capital Inc. now owns 10,848,631 shares of the medical instruments supplier's stock valued at $263,513,000 after buying an additional 80,200 shares during the last quarter. Vanguard Group Inc. lifted its position 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 acquiring an additional 319,441 shares during the period. State Street Corp grew its stake in STAAR Surgical by 0.5% during the 3rd quarter. State Street Corp now owns 1,940,567 shares of the medical instruments supplier's stock valued at $72,092,000 after purchasing an additional 10,430 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in shares of STAAR Surgical in the fourth quarter valued at about $36,411,000. Finally, Geode Capital Management LLC raised its stake in shares of STAAR Surgical by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,174,499 shares of the medical instruments supplier's stock worth $43,641,000 after purchasing an additional 31,212 shares during the last quarter. Hedge funds and other institutional investors own 96.70% of the company's stock.

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.