STAAR Surgical (NASDAQ:STAA) Receives $42.83 Average Target Price from Brokerages

Shares of STAAR Surgical (NASDAQ:STAA) have earned a consensus rating of “Hold” from the nine analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $42.83.

A number of brokerages recently issued reports on STAA. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research note on Tuesday, January 7th. Canaccord Genuity Group lowered their price objective on STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, December 9th. Finally, Stephens upgraded STAAR Surgical to a “hold” rating in a research report on Monday, December 2nd.

STAAR Surgical Stock Performance

Shares of STAAR Surgical stock opened at $22.83 on Friday. STAAR Surgical has a 52-week low of $21.13 and a 52-week high of $52.68. The stock’s 50-day simple moving average is $24.28 and its 200 day simple moving average is $29.90. The stock has a market capitalization of $1.13 billion, a P/E ratio of 51.89 and a beta of 0.62.

Insider Activity

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. acquired 23,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was bought at an average price of $24.33 per share, with a total value of $559,590.00. Following the completion of the acquisition, the insider now owns 10,848,631 shares of the company’s stock, valued at $263,947,192.23. This trade represents a 0.21 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have purchased a total of 105,876 shares of company stock worth $2,487,168 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of STAA. Dimensional Fund Advisors LP grew its holdings in shares of STAAR Surgical by 25.9% during the second quarter. Dimensional Fund Advisors LP now owns 459,655 shares of the medical instruments supplier’s stock worth $21,884,000 after purchasing an additional 94,422 shares in the last quarter. Sei Investments Co. grew its holdings in shares of STAAR Surgical by 2.7% during the second quarter. Sei Investments Co. now owns 15,087 shares of the medical instruments supplier’s stock worth $718,000 after purchasing an additional 394 shares in the last quarter. Squarepoint Ops LLC boosted its stake in STAAR Surgical by 108.1% in the second quarter. Squarepoint Ops LLC now owns 62,772 shares of the medical instruments supplier’s stock worth $2,989,000 after buying an additional 32,602 shares in the last quarter. Millennium Management LLC boosted its stake in STAAR Surgical by 84.2% in the second quarter. Millennium Management LLC now owns 178,772 shares of the medical instruments supplier’s stock worth $8,511,000 after buying an additional 81,738 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in STAAR Surgical by 16.2% in the second quarter. The Manufacturers Life Insurance Company now owns 27,008 shares of the medical instruments supplier’s stock worth $1,286,000 after buying an additional 3,758 shares in the last quarter. Hedge funds and other institutional investors own 96.70% of the company’s stock.

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.