STAAR Surgical (NASDAQ:STAA) Lowered to “Neutral” Rating by Mizuho

STAAR Surgical (NASDAQ:STAA) was downgraded by stock analysts at Mizuho from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, MarketBeat reports. They presently have a $17.00 price target on the medical instruments supplier’s stock, down from their prior price target of $45.00. Mizuho’s price objective points to a potential upside of 6.52% from the stock’s current price.

STAA has been the topic of several other research reports. William Blair cut shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research report on Tuesday, January 7th. BTIG Research downgraded shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a research report on Wednesday. Canaccord Genuity Group decreased their target price on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, December 9th. Finally, Stephens upgraded STAAR Surgical to a “hold” rating in a research note on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, STAAR Surgical currently has an average rating of “Hold” and an average target price of $26.86.

STAAR Surgical Price Performance

STAA stock opened at $15.96 on Wednesday. The stock has a market capitalization of $786.51 million, a P/E ratio of 36.27 and a beta of 0.62. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $52.68. The business has a fifty day moving average price of $23.57 and a 200-day moving average price of $29.15.

Insider Transactions at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. acquired 53,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $24.24 per share, for a total transaction of $1,296,840.00. Following the purchase, the insider now owns 10,821,931 shares in the company, valued at $262,323,607.44. The trade was a 0.50 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders purchased 105,876 shares of company stock worth $2,487,168 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

Several large investors have recently added to or reduced their stakes in STAA. Arcadia Investment Management Corp MI purchased a new stake in shares of STAAR Surgical in the third quarter worth $37,000. Quarry LP bought a new position in STAAR Surgical in the 3rd quarter worth $50,000. Quest Partners LLC bought a new position in STAAR Surgical in the 3rd quarter worth $128,000. Van ECK Associates Corp increased its stake in STAAR Surgical by 12.7% in 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 in the last quarter. Finally, nVerses Capital LLC raised its holdings in STAAR Surgical by 78.3% during the third quarter. nVerses Capital LLC now owns 4,100 shares of the medical instruments supplier’s stock valued at $152,000 after acquiring an additional 1,800 shares during the period. 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.