STAAR Surgical (NASDAQ:STAA) Cut to “Market Perform” at William Blair

William Blair cut shares of STAAR Surgical (NASDAQ:STAA) from an outperform rating to a market perform rating in a report issued on Wednesday morning, MarketBeat.com reports.

STAA has been the subject of a number of other reports. Canaccord Genuity Group cut their price target 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. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research note on Tuesday, January 7th. Finally, Stephens upgraded 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 issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, STAAR Surgical currently has an average rating of “Hold” and an average price target of $26.86.

STAAR Surgical Stock Down 3.8 %

STAAR Surgical stock opened at $15.35 on Wednesday. The business has a 50-day simple moving average of $23.37 and a two-hundred day simple moving average of $28.97. The company has a market cap of $756.45 million, a P/E 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.

Insider Activity at STAAR Surgical

In other STAAR Surgical news, major shareholder Broadwood Partners, L.P. purchased 23,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was acquired at an average cost of $24.33 per share, for a total transaction of $559,590.00. Following the purchase, the insider now directly owns 10,848,631 shares of the company’s stock, valued at $263,947,192.23. This trade represents a 0.21 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders purchased 402,024 shares of company stock worth $6,936,904. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its stake in STAAR Surgical by 12.7% in the 3rd quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock worth $129,000 after purchasing an additional 393 shares during the period. Creative Planning boosted its stake in STAAR Surgical by 8.0% in the 3rd quarter. Creative Planning now owns 5,524 shares of the medical instruments supplier’s stock worth $205,000 after purchasing an additional 408 shares during the period. LMR Partners LLP boosted its stake in STAAR Surgical by 2.2% in the 3rd quarter. LMR Partners LLP now owns 34,712 shares of the medical instruments supplier’s stock worth $1,290,000 after purchasing an additional 743 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of STAAR Surgical during the 3rd quarter worth approximately $37,000. Finally, Quarry LP purchased a new stake in shares of STAAR Surgical during the 3rd quarter worth approximately $50,000. 96.70% of the stock is currently owned by institutional investors.

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.