STAAR Surgical (NASDAQ:STAA) Rating Lowered to “Hold” at Jefferies Financial Group

STAAR Surgical (NASDAQ:STAA) was downgraded by analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Briefing.com Automated Import reports.

STAA has been the subject of a number of other research reports. Stifel Nicolaus lowered their price target on shares of STAAR Surgical from $38.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday. William Blair lowered STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Piper Sandler cut their target price on STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday. Stephens restated an “equal weight” rating and set a $28.00 price target on shares of STAAR Surgical in a report on Wednesday. Finally, BTIG Research lowered shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $28.43.

STAAR Surgical Stock Down 26.8 %

STAAR Surgical stock traded down $5.86 during mid-day trading on Wednesday, reaching $16.02. 4,433,382 shares of the company’s stock traded hands, compared to its average volume of 774,386. STAAR Surgical has a 12-month low of $13.50 and a 12-month high of $52.68. The stock has a 50 day moving average of $23.94 and a two-hundred day moving average of $29.33. The company has a market cap of $789.47 million, a price-to-earnings ratio of 35.96 and a beta of 0.62.

Insider Activity at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. purchased 23,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average cost of $24.33 per share, for a total transaction of $559,590.00. Following the acquisition, the insider now owns 10,848,631 shares of the company’s stock, valued at approximately $263,947,192.23. This represents a 0.21 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired a total of 105,876 shares of company stock valued at $2,487,168 over the last ninety days. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On STAAR Surgical

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Arcadia Investment Management Corp MI purchased a new position in STAAR Surgical in the third quarter worth $37,000. Quarry LP acquired a new stake in shares of STAAR Surgical in the 3rd quarter worth $50,000. Quest Partners LLC purchased a new position in STAAR Surgical during the 3rd quarter worth $128,000. Van ECK Associates Corp grew its stake in STAAR Surgical by 12.7% during the 3rd quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock worth $129,000 after buying an additional 393 shares during the last quarter. Finally, nVerses Capital LLC increased its position in STAAR Surgical by 78.3% during the 3rd quarter. nVerses Capital LLC now owns 4,100 shares of the medical instruments supplier’s stock valued at $152,000 after buying an additional 1,800 shares in 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.