STAAR Surgical (NASDAQ:STAA) Cut to Sell at StockNews.com

StockNews.com cut shares of STAAR Surgical (NASDAQ:STAA) from a hold rating to a sell rating in a research note released on Thursday.

Other research analysts have also recently issued research reports about the stock. BTIG Research cut shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a research report on Wednesday. Canaccord Genuity Group dropped their target price on STAAR Surgical from $28.00 to $17.00 and set a “hold” rating for the company in a research report on Thursday. Stephens reiterated an “equal weight” rating and issued a $28.00 price objective on shares of STAAR Surgical in a research report on Wednesday. William Blair lowered shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, 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 research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $26.86.

STAAR Surgical Trading Down 3.2 %

Shares of NASDAQ STAA opened at $15.96 on Thursday. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $52.68. The company has a 50-day moving average of $23.57 and a two-hundred day moving average of $29.15. The company has a market cap of $786.51 million, a PE ratio of 36.27 and a beta of 0.62.

Insider Buying and Selling at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. bought 53,500 shares of STAAR Surgical stock in a transaction on Monday, December 16th. The shares were purchased at an average cost of $24.24 per share, for a total transaction of $1,296,840.00. Following the completion of the acquisition, the insider now owns 10,821,931 shares in the company, valued at approximately $262,323,607.44. The trade was a 0.50 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders bought 105,876 shares of company stock valued at $2,487,168. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

Institutional investors have recently modified their holdings of the business. Arcadia Investment Management Corp MI bought a new stake in STAAR Surgical during the 3rd quarter worth approximately $37,000. Quarry LP acquired a new position in shares of STAAR Surgical in the third quarter valued at approximately $50,000. Quest Partners LLC acquired a new position in shares of STAAR Surgical in the third quarter valued at approximately $128,000. Van ECK Associates Corp increased its position 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 acquiring an additional 393 shares in the last quarter. Finally, nVerses Capital LLC raised its holdings in shares of STAAR Surgical by 78.3% during the third quarter. nVerses Capital LLC now owns 4,100 shares of the medical instruments supplier’s stock worth $152,000 after acquiring an additional 1,800 shares during the period. 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.