STAAR Surgical (NASDAQ:STAA) Receives $42.83 Average Target Price from Brokerages

Shares of STAAR Surgical (NASDAQ:STAA) have been assigned an average recommendation of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $42.83.

STAA has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of STAAR Surgical in a report on Tuesday. Stephens raised STAAR Surgical to a “hold” rating in a research note on Monday, December 2nd. Finally, Canaccord Genuity Group lowered their price target on STAAR Surgical from $31.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, December 9th.

Insiders Place Their Bets

In related news, major shareholder Broadwood Partners, L.P. acquired 53,500 shares of the stock in a transaction dated Monday, December 16th. The stock was bought at an average cost of $24.24 per share, with a total value of $1,296,840.00. Following the purchase, the insider now directly owns 10,821,931 shares of the company’s stock, valued at approximately $262,323,607.44. This represents a 0.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of STAA. Arcadia Investment Management Corp MI acquired a new stake in STAAR Surgical during the 3rd quarter valued at $37,000. Quarry LP acquired a new stake in STAAR Surgical during the 3rd quarter valued at approximately $50,000. Quest Partners LLC purchased a new position in shares of STAAR Surgical during the 3rd quarter valued at approximately $128,000. Canada Pension Plan Investment Board acquired a new stake in shares of STAAR Surgical during the second quarter worth approximately $129,000. Finally, Van ECK Associates Corp raised its holdings in STAAR Surgical by 12.7% in the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock valued at $129,000 after acquiring an additional 393 shares in the last quarter. 96.70% of the stock is owned by institutional investors and hedge funds.

STAAR Surgical Stock Performance

STAA stock opened at $23.12 on Monday. STAAR Surgical has a one year low of $22.40 and a one year high of $52.68. The company has a fifty day moving average of $26.43 and a 200-day moving average of $32.94. The stock has a market capitalization of $1.14 billion, a PE ratio of 52.55 and a beta of 0.63.

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.