STAAR Surgical Company (NASDAQ:STAA) Receives Average Recommendation of "Hold" from Analysts

Key Points

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STAAR Surgical Company (NASDAQ:STAA - Get Free Report) has received an average recommendation of "Hold" from the ten research firms that are currently covering the company, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold rating. The average twelve-month price target among brokerages that have covered the stock in the last year is $20.6667.

STAA has been the subject of several recent analyst reports. 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. Mizuho raised their price objective 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. Needham & Company LLC restated a "hold" rating on shares of STAAR Surgical in a research report on Wednesday, May 21st. Canaccord Genuity Group raised 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, Piper Sandler upgraded shares of STAAR Surgical to a "hold" rating in a research report on Wednesday, June 18th.

STAAR Surgical Stock Performance

Shares of NASDAQ STAA traded up $0.08 during mid-day trading on Tuesday, reaching $27.85. The company's stock had a trading volume of 476,250 shares, compared to its average volume of 3,391,159. The stock has a 50-day moving average of $20.36 and a two-hundred day moving average of $18.68. The stock has a market capitalization of $1.38 billion, a P/E ratio of -14.43 and a beta of 0.61. STAAR Surgical has a 1-year low of $13.50 and a 1-year high of $38.60.

STAAR Surgical declared that its Board of Directors has authorized a stock buyback program on Friday, May 16th that authorizes the company to buyback $30.00 million in shares. This buyback authorization authorizes the medical instruments supplier to reacquire up to 3.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of STAA. LPL Financial LLC boosted its stake in STAAR Surgical by 45.3% during the fourth quarter. LPL Financial LLC now owns 15,994 shares of the medical instruments supplier's stock worth $388,000 after buying an additional 4,989 shares during the period. Wells Fargo & Company MN boosted its stake in STAAR Surgical by 27.2% during the fourth quarter. Wells Fargo & Company MN now owns 26,081 shares of the medical instruments supplier's stock worth $634,000 after buying an additional 5,572 shares during the period. Invesco Ltd. boosted its stake in STAAR Surgical by 7.2% during the fourth quarter. Invesco Ltd. now owns 202,981 shares of the medical instruments supplier's stock worth $4,930,000 after buying an additional 13,714 shares during the period. Legal & General Group Plc boosted its stake in STAAR Surgical by 3.8% during the fourth quarter. Legal & General Group Plc now owns 179,270 shares of the medical instruments supplier's stock worth $4,354,000 after buying an additional 6,622 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in STAAR Surgical during the fourth quarter worth about $923,000. Hedge funds and other 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.