STAAR Surgical (NASDAQ:STAA) Cut to Neutral at Mizuho

Mizuho lowered shares of STAAR Surgical (NASDAQ:STAA) from an outperform rating to a neutral rating in a research report report published on Wednesday morning, MarketBeat.com reports. The brokerage currently has $17.00 price objective on the medical instruments supplier’s stock, down from their prior price objective of $45.00.

Several other equities analysts also recently weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research note on Tuesday, January 7th. BTIG Research downgraded STAAR Surgical from a “buy” rating to a “neutral” rating in a research note on Wednesday. William Blair downgraded STAAR Surgical from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Canaccord Genuity Group dropped their price objective on STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, December 9th. Finally, Stephens raised STAAR Surgical to a “hold” rating in a research note on Monday, December 2nd. Two research 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $26.86.

STAAR Surgical Trading Down 3.8 %

Shares of STAA stock opened at $15.35 on Wednesday. The company has a market cap of $756.45 million, a price-to-earnings ratio of 34.89 and a beta of 0.62. The stock has a 50 day simple moving average of $23.37 and a 200-day simple moving average of $28.97. STAAR Surgical has a 12-month low of $13.50 and a 12-month high of $52.68.

Insider Transactions at STAAR Surgical

In other news, major shareholder Broadwood Partners, L.P. bought 259,616 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were acquired at an average cost of $14.96 per share, with a total value of $3,883,855.36. Following the transaction, the insider now owns 11,137,623 shares of the company’s stock, 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 SEC, which is available at the SEC website. Insiders have acquired 402,024 shares of company stock worth $6,936,904 over the last quarter. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Truist Financial Corp purchased a new position in STAAR Surgical in the second quarter valued at about $268,000. Cetera Investment Advisers purchased a new position in STAAR Surgical in the second quarter valued at about $1,135,000. Exchange Traded Concepts LLC raised its position in STAAR Surgical by 17.6% in the third quarter. Exchange Traded Concepts LLC now owns 30,020 shares of the medical instruments supplier’s stock valued at $1,115,000 after purchasing an additional 4,498 shares during the period. Creative Planning raised its position in STAAR Surgical by 8.0% in the third quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock valued at $205,000 after purchasing an additional 408 shares during the period. Finally, nVerses Capital LLC raised its position in STAAR Surgical by 78.3% in the third 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 during the period. 96.70% of the stock is 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.