Piper Sandler Cuts STAAR Surgical (NASDAQ:STAA) Price Target to $16.00

STAAR Surgical (NASDAQ:STAA) had its price objective lowered by Piper Sandler from $40.00 to $16.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the medical instruments supplier’s stock.

STAA has been the subject of a number of other reports. Stephens upgraded shares of STAAR Surgical to a “hold” rating in a research report on Monday, December 2nd. Mizuho cut shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $45.00 to $17.00 in a research report on Wednesday. William Blair lowered shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a report on Wednesday. BTIG Research lowered shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a report on Wednesday. Finally, Canaccord Genuity Group dropped their price objective on shares of STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $26.86.

STAAR Surgical Stock Down 3.8 %

Shares of NASDAQ STAA opened at $15.35 on Wednesday. The firm has a 50-day simple moving average of $23.37 and a 200-day simple moving average of $28.97. The stock has a market capitalization of $756.45 million, a price-to-earnings ratio of 34.89 and a beta of 0.62. STAAR Surgical has a 52 week low of $13.50 and a 52 week high of $52.68.

Insiders Place Their Bets

In related news, major shareholder Broadwood Partners, L.P. bought 259,616 shares of the stock in a transaction on Wednesday, February 12th. The stock was bought at an average price of $14.96 per share, with a total value of $3,883,855.36. Following the completion of the purchase, the insider now directly owns 11,137,623 shares in the company, valued at $166,618,840.08. This represents a 2.39 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased a total of 402,024 shares of company stock valued at $6,936,904 over the last 90 days. 1.00% of the stock is owned by company insiders.

Institutional Trading of STAAR Surgical

Several hedge funds have recently made changes to their positions in the business. Freestone Grove Partners LP acquired a new stake in shares of STAAR Surgical during the fourth quarter worth about $1,335,000. Nebula Research & Development LLC lifted its position in shares of STAAR Surgical by 19.0% during the fourth quarter. Nebula Research & Development LLC now owns 23,210 shares of the medical instruments supplier’s stock worth $564,000 after purchasing an additional 3,700 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of STAAR Surgical by 9.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 35,613 shares of the medical instruments supplier’s stock worth $866,000 after purchasing an additional 3,066 shares in the last quarter. Dark Forest Capital Management LP lifted its position in shares of STAAR Surgical by 164.3% during the fourth quarter. Dark Forest Capital Management LP now owns 25,524 shares of the medical instruments supplier’s stock worth $620,000 after purchasing an additional 15,866 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of STAAR Surgical by 21.3% during the fourth quarter. Hsbc Holdings PLC now owns 21,160 shares of the medical instruments supplier’s stock worth $513,000 after purchasing an additional 3,714 shares in the last quarter. Institutional investors and hedge funds 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.