STAAR Surgical Company (NASDAQ:STAA) Receives $20.36 Consensus Target Price from Brokerages

Shares of STAAR Surgical Company (NASDAQ:STAA) have been assigned an average rating of “Reduce” from the twelve research firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $20.9063.

A number of analysts have recently commented on the company. BTIG Research reissued a “neutral” rating on shares of STAAR Surgical in a research report on Tuesday, January 6th. Wells Fargo & Company boosted their target price on STAAR Surgical from $28.00 to $30.75 and gave the stock an “equal weight” rating in a report on Wednesday, December 10th. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of STAAR Surgical in a research report on Thursday, January 22nd. Finally, Piper Sandler reiterated a “neutral” rating on shares of STAAR Surgical in a research note on Monday, October 27th.

STAAR Surgical Price Performance

Shares of NASDAQ:STAA opened at $16.49 on Tuesday. The stock’s 50-day moving average is $21.58 and its 200 day moving average is $24.69. The company has a market cap of $820.21 million, a PE ratio of -8.46 and a beta of 1.06. STAAR Surgical has a 1 year low of $14.69 and a 1 year high of $30.81.

Insider Activity at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. acquired 27,485 shares of the stock in a transaction that occurred on Friday, January 9th. The shares were bought at an average price of $22.05 per share, for a total transaction of $606,044.25. Following the completion of the transaction, the insider directly owned 15,453,629 shares in the company, valued at approximately $340,752,519.45. This trade represents a 0.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 1,934,138 shares of company stock worth $50,485,791 over the last 90 days. Company insiders own 0.59% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in STAA. Broadwood Capital Inc. grew its holdings in STAAR Surgical by 8.5% during the 2nd quarter. Broadwood Capital Inc. now owns 13,519,491 shares of the medical instruments supplier’s stock valued at $226,857,000 after buying an additional 1,064,227 shares in the last quarter. Soleus Capital Management L.P. grew its stake in STAAR Surgical by 16.5% during the second quarter. Soleus Capital Management L.P. now owns 2,984,733 shares of the medical instruments supplier’s stock valued at $50,084,000 after acquiring an additional 421,840 shares in the last quarter. Yunqi Capital Ltd increased its holdings in STAAR Surgical by 0.3% in the 4th quarter. Yunqi Capital Ltd now owns 2,507,130 shares of the medical instruments supplier’s stock valued at $57,890,000 after acquiring an additional 7,069 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its stake in STAAR Surgical by 11.6% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 2,421,836 shares of the medical instruments supplier’s stock worth $40,746,000 after purchasing an additional 252,218 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in STAAR Surgical by 112.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,076,743 shares of the medical instruments supplier’s stock worth $47,952,000 after purchasing an additional 1,100,484 shares in the last quarter. 96.70% of the stock is currently owned by institutional investors.

About STAAR Surgical

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. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists.