Needham & Company LLC Reaffirms Hold Rating for STAAR Surgical (NASDAQ:STAA)

STAAR Surgical (NASDAQ:STAA)‘s stock had its “hold” rating reaffirmed by Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports.

A number of other analysts also recently issued reports on the stock. BTIG Research downgraded shares of STAAR Surgical from a “buy” rating to a “neutral” rating in a report on Wednesday, February 12th. Mizuho cut shares of STAAR Surgical from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $45.00 to $17.00 in a research report on Wednesday, February 12th. William Blair cut shares of STAAR Surgical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 12th. Stifel Nicolaus reduced their price objective on shares of STAAR Surgical from $38.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Finally, StockNews.com lowered shares of STAAR Surgical from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $26.86.

STAAR Surgical Stock Down 1.1 %

Shares of NASDAQ STAA opened at $17.50 on Thursday. STAAR Surgical has a twelve month low of $13.50 and a twelve month high of $52.68. The company’s fifty day moving average is $21.70 and its 200-day moving average is $27.44. The stock has a market cap of $862.33 million, a price-to-earnings ratio of -42.68 and a beta of 0.62.

Insider Transactions at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. bought 36,532 shares of the stock in a transaction on Friday, February 14th. The shares were acquired at an average price of $15.49 per share, for a total transaction of $565,880.68. Following the purchase, the insider now owns 11,289,437 shares of the company’s stock, valued at approximately $174,873,379.13. The trade was a 0.32 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired 402,024 shares of company stock valued at $6,936,904 in the last three months. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On STAAR Surgical

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in STAAR Surgical by 12.7% during the third 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 period. Creative Planning grew its stake in shares of STAAR Surgical by 8.0% during the third quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock worth $205,000 after acquiring an additional 408 shares during the last quarter. LMR Partners LLP boosted its position in STAAR Surgical by 2.2% in the third quarter. LMR Partners LLP now owns 34,712 shares of the medical instruments supplier’s stock valued at $1,290,000 after buying an additional 743 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in STAAR Surgical in the third quarter valued at approximately $37,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in STAAR Surgical by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,123 shares of the medical instruments supplier’s stock valued at $683,000 after acquiring an additional 1,044 shares during the period. 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.