Needham & Company LLC Reiterates “Hold” Rating for STAAR Surgical (NASDAQ:STAA)

STAAR Surgical (NASDAQ:STAA)‘s stock had its “hold” rating restated by stock analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports.

Other equities research analysts have also issued research reports about the company. Stephens raised STAAR Surgical to a “hold” rating in a report on Monday, December 2nd. Canaccord Genuity Group reduced 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $42.83.

STAAR Surgical Trading Down 4.9 %

Shares of NASDAQ STAA opened at $23.33 on Tuesday. The stock has a fifty day simple moving average of $26.69 and a two-hundred day simple moving average of $33.13. STAAR Surgical has a 1-year low of $22.40 and a 1-year high of $52.68. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 53.02 and a beta of 0.63.

Insider Transactions at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. purchased 23,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were purchased 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 in the company, valued at $263,947,192.23. This trade represents a 0.21 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On STAAR Surgical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in shares of STAAR Surgical by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,174,499 shares of the medical instruments supplier’s stock worth $43,641,000 after purchasing an additional 31,212 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in STAAR Surgical by 214.7% during the second quarter. Mutual of America Capital Management LLC now owns 26,459 shares of the medical instruments supplier’s stock valued at $1,260,000 after purchasing an additional 18,051 shares during the last quarter. HighTower Advisors LLC purchased a new position in STAAR Surgical in the 3rd quarter worth approximately $336,000. ClariVest Asset Management LLC bought a new position in shares of STAAR Surgical in the 2nd quarter worth $1,223,000. Finally, Algert Global LLC raised its position in shares of STAAR Surgical by 13.5% during the 2nd quarter. Algert Global LLC now owns 116,655 shares of the medical instruments supplier’s stock valued at $5,554,000 after buying an additional 13,901 shares in the last quarter. 96.70% of the stock is currently owned by hedge funds and other 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.