STAAR Surgical Company (NASDAQ:STAA) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• STAAR Surgical Company has received an average rating of "Hold" from ten research firms, with a one-year price target averaging $20.67.
• Several analysts have adjusted their price targets for STAAR Surgical, with Canaccord Genuity Group raising their target from $20.00 to $28.00, while Mizuho increased theirs from $17.00 to $18.00.
• The company has initiated a share buyback program, allowing it to repurchase up to $30 million in outstanding shares, indicating a belief that the stock is currently undervalued.

STAAR Surgical Company (NASDAQ:STAA - Get Free Report) has earned an average rating of "Hold" from the ten research firms that are presently covering the stock, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold rating. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $20.6667.

STAA has been the subject of several recent research reports. Mizuho boosted their target price on shares of STAAR Surgical from $17.00 to $18.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Piper Sandler raised shares of STAAR Surgical to a "hold" rating in a research report on Wednesday, June 18th. Needham & Company LLC reissued a "hold" rating on shares of STAAR Surgical in a research report on Wednesday, May 21st. Canaccord Genuity Group upped their price objective on shares of STAAR Surgical from $20.00 to $28.00 and gave the stock a "hold" rating in a research report on Wednesday, August 6th. Finally, Stifel Nicolaus set a $28.00 price objective on shares of STAAR Surgical and gave the stock a "hold" rating in a research report on Thursday, August 7th.

STAAR Surgical Stock Performance

Shares of NASDAQ:STAA remained flat at $27.16 during midday trading on Friday. 798,912 shares of the stock traded hands, compared to its average volume of 664,450. The business's 50 day moving average price is $24.36 and its 200 day moving average price is $19.94. The stock has a market cap of $1.34 billion, a P/E ratio of -14.07 and a beta of 0.74. STAAR Surgical has a one year low of $13.50 and a one year high of $38.60.

Institutional Trading of STAAR Surgical

Several institutional investors and hedge funds have recently bought and sold shares of the company. Broadwood Capital Inc. increased its holdings in shares of STAAR Surgical by 8.5% in the 2nd quarter. Broadwood Capital Inc. now owns 13,519,491 shares of the medical instruments supplier's stock worth $226,857,000 after buying an additional 1,064,227 shares during the last quarter. Armistice Capital LLC lifted its position in shares of STAAR Surgical by 244.0% in the 1st quarter. Armistice Capital LLC now owns 3,000,000 shares of the medical instruments supplier's stock worth $52,890,000 after purchasing an additional 2,128,000 shares during the period. Soleus Capital Management L.P. lifted its position in STAAR Surgical by 16.5% during the 2nd quarter. Soleus Capital Management L.P. now owns 2,984,733 shares of the medical instruments supplier's stock valued at $50,084,000 after acquiring an additional 421,840 shares during the period. Resona Asset Management Co. Ltd. lifted its position in STAAR Surgical by 11.6% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 2,421,836 shares of the medical instruments supplier's stock valued at $40,746,000 after acquiring an additional 252,218 shares during the period. Finally, Yunqi Capital Ltd lifted its position in STAAR Surgical by 24.4% during the 2nd quarter. Yunqi Capital Ltd now owns 2,411,288 shares of the medical instruments supplier's stock valued at $40,461,000 after acquiring an additional 473,699 shares during the period. 96.70% of the stock is currently 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.