STAAR Surgical (NASDAQ:STAA) Earns Neutral Rating from Analysts at Wedbush

Wedbush initiated coverage on shares of STAAR Surgical (NASDAQ:STAA) in a report published on Tuesday, Marketbeat.com reports. The brokerage issued a neutral rating and a $26.00 target price on the medical instruments supplier’s stock.

Other equities research analysts have also issued research reports about the company. Morgan Stanley initiated coverage on STAAR Surgical in a research note on Friday, January 16th. They set an “underweight” rating and a $13.00 price objective for the company. BTIG Research reiterated a “neutral” rating on shares of STAAR Surgical in a research note on Tuesday, January 6th. Jefferies Financial Group dropped their price target on shares of STAAR Surgical from $28.00 to $21.50 and set a “buy” rating for the company in a research note on Wednesday, January 28th. Canaccord Genuity Group cut their price target on shares of STAAR Surgical from $30.75 to $22.00 and set a “hold” rating on the stock in a report on Thursday, January 15th. Finally, Piper Sandler reiterated a “neutral” rating on shares of STAAR Surgical in a research note on Monday, October 27th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, STAAR Surgical currently has an average rating of “Reduce” and a consensus price target of $21.36.

STAAR Surgical Price Performance

NASDAQ:STAA opened at $17.07 on Tuesday. The firm has a 50-day moving average of $22.49 and a two-hundred day moving average of $24.74. The stock has a market cap of $849.10 million, a P/E ratio of -8.75 and a beta of 1.06. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $30.81.

Insiders Place Their Bets

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. bought 27,485 shares of the company’s stock in a transaction on Friday, January 9th. The shares were bought at an average cost of $22.05 per share, with a total value of $606,044.25. Following the completion of the acquisition, the insider owned 15,453,629 shares of the company’s stock, 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 have acquired a total of 1,934,138 shares of company stock worth $50,485,791 in the last three months. 0.59% of the stock is owned by insiders.

Institutional Investors Weigh In On STAAR Surgical

A number of institutional investors have recently modified their holdings of the business. CWM LLC lifted its holdings in STAAR Surgical by 74.1% in the second quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier’s stock worth $26,000 after acquiring an additional 665 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of STAAR Surgical by 2,605.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,055 shares of the medical instruments supplier’s stock worth $28,000 after purchasing an additional 1,016 shares during the last quarter. GAMMA Investing LLC boosted its position in STAAR Surgical by 61.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier’s stock valued at $50,000 after purchasing an additional 706 shares during the period. PNC Financial Services Group Inc. grew its stake in STAAR Surgical by 691.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the medical instruments supplier’s stock worth $61,000 after buying an additional 3,151 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in STAAR Surgical by 375.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,919 shares of the medical instruments supplier’s stock worth $99,000 after buying an additional 4,673 shares during the last quarter. 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. 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.