Stifel Nicolaus Cuts STAAR Surgical (NASDAQ:STAA) Price Target to $20.00

STAAR Surgical (NASDAQ:STAA) had its price objective dropped by investment analysts at Stifel Nicolaus from $38.00 to $20.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 26.18% from the company’s previous close.

Several other research firms have also recently commented on STAA. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research note on Wednesday. William Blair downgraded shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Canaccord Genuity Group lowered their target price on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, December 9th. Piper Sandler dropped their price target on shares of STAAR Surgical from $40.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Stephens upgraded shares of STAAR Surgical to a “hold” rating in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $28.43.

STAAR Surgical Trading Down 27.6 %

Shares of NASDAQ STAA traded down $6.03 during midday trading on Wednesday, reaching $15.85. 2,765,731 shares of the company were exchanged, compared to its average volume of 700,355. The stock has a market cap of $781.14 million, a P/E ratio of 35.84 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 stock has a fifty day simple moving average of $23.94 and a 200 day simple moving average of $29.33.

Insider Activity

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. purchased 23,000 shares of STAAR Surgical stock in a transaction on Wednesday, December 18th. The shares were bought 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 directly owns 10,848,631 shares of the company’s stock, valued at approximately $263,947,192.23. This trade represents a 0.21 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders purchased 105,876 shares of company stock worth $2,487,168. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On STAAR Surgical

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Arcadia Investment Management Corp MI purchased a new position in STAAR Surgical during the third quarter worth $37,000. Quarry LP acquired a new stake in shares of STAAR Surgical during the third quarter valued at $50,000. Quest Partners LLC purchased a new stake in STAAR Surgical during the 3rd quarter worth about $128,000. Van ECK Associates Corp raised 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 valued at $129,000 after purchasing an additional 393 shares during the last quarter. Finally, nVerses Capital LLC lifted its holdings in STAAR Surgical by 78.3% in the 3rd quarter. nVerses Capital LLC now owns 4,100 shares of the medical instruments supplier’s stock valued at $152,000 after purchasing an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors own 96.70% of the company’s stock.

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.