STAAR Surgical (NASDAQ:STAA) Cut to Hold at Jefferies Financial Group

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

Other analysts have also issued reports about the company. Stifel Nicolaus lowered their target price on STAAR Surgical from $38.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday. Mizuho cut STAAR Surgical from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $45.00 to $17.00 in a research note on Wednesday. Stephens reiterated an “equal weight” rating and set a $28.00 target price on shares of STAAR Surgical in a research report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of STAAR Surgical in a research note on Wednesday. Finally, 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, STAAR Surgical presently has a consensus rating of “Hold” and a consensus price target of $28.43.

STAAR Surgical Stock Down 24.7 %

Shares of STAA stock 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 company has a 50 day moving average of $23.75 and a 200-day moving average of $29.24. The firm has a market cap of $812.13 million, a P/E ratio of 37.45 and a beta of 0.62.

Insider Activity

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. acquired 23,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were bought at an average price of $24.33 per share, for a total transaction of $559,590.00. Following the completion of the transaction, the insider now owns 10,848,631 shares of the company’s stock, valued at approximately $263,947,192.23. This represents a 0.21 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders bought 105,876 shares of company stock worth $2,487,168. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On STAAR Surgical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in shares of STAAR Surgical by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,174,499 shares of the medical instruments supplier’s stock valued at $43,641,000 after acquiring an additional 31,212 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of STAAR Surgical in the third quarter worth approximately $336,000. Polar Asset Management Partners Inc. raised its stake in STAAR Surgical by 44.3% in the third quarter. Polar Asset Management Partners Inc. now owns 168,800 shares of the medical instruments supplier’s stock valued at $6,271,000 after purchasing an additional 51,800 shares in the last quarter. JPMorgan Chase & Co. lifted its position in STAAR Surgical by 411.7% during the third quarter. JPMorgan Chase & Co. now owns 214,750 shares of the medical instruments supplier’s stock valued at $7,978,000 after purchasing an additional 172,779 shares during the last quarter. Finally, Cetera Investment Advisers bought a new stake in STAAR Surgical during the second quarter valued at approximately $1,135,000. 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.