STAAR Surgical (NASDAQ:STAA) Price Target Cut to $20.00 by Analysts at Stifel Nicolaus

STAAR Surgical (NASDAQ:STAA) had its price objective dropped by equities researchers at Stifel Nicolaus from $38.00 to $20.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 26.18% from the stock’s current price.

Several other brokerages have also recently issued reports on STAA. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research note on Wednesday. Mizuho downgraded STAAR Surgical from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $45.00 to $17.00 in a research report on Wednesday. Piper Sandler reduced their price objective on STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday. William Blair cut STAAR Surgical from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, BTIG Research lowered shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $28.43.

STAAR Surgical Stock Down 27.6 %

Shares of STAA traded down $6.03 during mid-day trading on Wednesday, hitting $15.85. The company had a trading volume of 2,765,731 shares, compared to its average volume of 700,355. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $52.68. The business’s 50-day simple moving average is $23.94 and its 200-day simple moving average is $29.33. The stock has a market cap of $781.14 million, a PE ratio of 35.84 and a beta of 0.62.

Insiders Place Their Bets

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. purchased 8,221 shares of STAAR Surgical stock in a transaction that occurred on Thursday, January 16th. The stock was purchased at an average price of $21.50 per share, with a total value of $176,751.50. Following the completion of the acquisition, the insider now owns 10,878,007 shares of the company’s stock, valued at approximately $233,877,150.50. This trade represents a 0.08 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders purchased a total of 105,876 shares of company stock worth $2,487,168 in the last 90 days. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd raised its stake in shares of STAAR Surgical by 41.0% in the 4th quarter. WINTON GROUP Ltd now owns 42,964 shares of the medical instruments supplier’s stock valued at $1,044,000 after purchasing an additional 12,496 shares in the last quarter. Vanguard Group Inc. grew its stake in STAAR Surgical by 5.8% in the fourth 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 in the last quarter. LPL Financial LLC increased its holdings in STAAR Surgical by 45.3% in the fourth quarter. LPL Financial LLC now owns 15,994 shares of the medical instruments supplier’s stock valued at $388,000 after buying an additional 4,989 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in STAAR Surgical during the fourth quarter valued at approximately $180,000. Finally, American Century Companies Inc. lifted its holdings in STAAR Surgical by 70.0% during the 4th 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 during the last quarter. 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.