STAAR Surgical (NASDAQ:STAA) Lowered to “Hold” Rating by Jefferies Financial Group

Jefferies Financial Group lowered shares of STAAR Surgical (NASDAQ:STAA) from a buy rating to a hold rating in a research report released on Wednesday, MarketBeat reports.

Several other brokerages also recently commented on STAA. Canaccord Genuity Group reduced their target price on STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, December 9th. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a research note on Wednesday. William Blair lowered STAAR Surgical from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Stephens reissued an “equal weight” rating and issued a $28.00 price target on shares of STAAR Surgical in a research report on Wednesday. Finally, Mizuho lowered shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $45.00 to $17.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $28.43.

STAAR Surgical Stock Down 24.7 %

Shares of NASDAQ STAA opened at $16.48 on Wednesday. STAAR Surgical has a 12-month low of $13.50 and a 12-month high of $52.68. The firm has a market cap of $812.13 million, a PE ratio of 37.45 and a beta of 0.62. The company’s fifty day simple moving average is $23.75 and its 200 day simple moving average is $29.24.

Insider Activity at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. acquired 23,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were purchased at an average cost of $24.33 per share, with a total value of $559,590.00. Following the acquisition, the insider now directly owns 10,848,631 shares of the company’s stock, valued at $263,947,192.23. The trade was a 0.21 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders purchased 105,876 shares of company stock valued at $2,487,168. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Arcadia Investment Management Corp MI bought a new stake in STAAR Surgical in the 3rd quarter worth about $37,000. Quarry LP purchased a new position in shares of STAAR Surgical in the 3rd quarter worth approximately $50,000. Quest Partners LLC bought 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 valued at $129,000 after acquiring an additional 393 shares during the last quarter. Finally, nVerses Capital LLC increased its position 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 valued at $152,000 after acquiring an additional 1,800 shares during the last quarter. 96.70% of the stock is 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.