STAAR Surgical (NASDAQ:STAA) Receives Hold Rating from Needham & Company LLC

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

A number of other research firms also recently weighed in on STAA. Canaccord Genuity Group dropped their price target 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. Stephens raised STAAR Surgical to a “hold” rating in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $42.83.

STAAR Surgical Trading Down 4.9 %

NASDAQ:STAA opened at $23.33 on Tuesday. STAAR Surgical has a 12 month low of $22.40 and a 12 month high of $52.68. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 53.02 and a beta of 0.63. The firm has a fifty day simple moving average of $26.69 and a two-hundred day simple moving average of $33.13.

Insider Buying and Selling

In other news, major shareholder Broadwood Partners, L.P. purchased 23,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired at an average cost of $24.33 per share, for a total transaction 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On STAAR Surgical

Several hedge funds have recently modified their holdings of STAA. Arcadia Investment Management Corp MI purchased a new stake in shares of STAAR Surgical during the third quarter valued at approximately $37,000. Quarry LP bought a new position in STAAR Surgical in the 3rd quarter valued at $50,000. Quest Partners LLC purchased a new stake in shares of STAAR Surgical during the 3rd quarter valued at $128,000. Canada Pension Plan Investment Board bought a new stake in shares of STAAR Surgical during the 2nd quarter worth $129,000. Finally, Van ECK Associates Corp boosted its holdings in shares of 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 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.