STAAR Surgical (NASDAQ:STAA) Earns "Sell (D)" Rating from Weiss Ratings

Key Points

• STAAR Surgical has received a "sell (D)" rating from Weiss Ratings, indicating concerns about the company's stock performance.
• Despite the negative rating, several analysts have given the stock a "hold" rating, with an average target price of $20.67.
• Institutional investors have significantly increased their holdings in STAAR Surgical, with some increasing their stakes by over 1,500% in recent quarters.

STAAR Surgical (NASDAQ:STAA - Get Free Report)'s stock had its "sell (d)" rating reissued by equities research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

STAA has been the topic of a number of other reports. Piper Sandler upgraded STAAR Surgical to a "hold" rating in a report on Wednesday, June 18th. Canaccord Genuity Group raised their price objective on STAAR Surgical from $20.00 to $28.00 and gave the company a "hold" rating in a research note on Wednesday, August 6th. Mizuho raised their price objective on STAAR Surgical from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Finally, Stifel Nicolaus set a $28.00 price objective on STAAR Surgical and gave the company a "hold" rating in a research note on Thursday, August 7th. Ten research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, STAAR Surgical presently has a consensus rating of "Reduce" and an average target price of $20.67.

STAAR Surgical Stock Down 0.8%

Shares of STAA opened at $26.50 on Wednesday. STAAR Surgical has a 12-month low of $13.50 and a 12-month high of $33.28. The business's fifty day moving average is $26.83 and its 200 day moving average is $20.79. The stock has a market cap of $1.31 billion, a P/E ratio of -13.73 and a beta of 0.82.

Institutional Investors Weigh In On STAAR Surgical

Large investors have recently added to or reduced their stakes in the company. CWM LLC increased its holdings in STAAR Surgical by 74.1% in the 2nd quarter. CWM LLC now owns 1,563 shares of the medical instruments supplier's stock worth $26,000 after acquiring an additional 665 shares during the last quarter. US Bancorp DE increased its holdings in STAAR Surgical by 1,693.0% in the 1st quarter. US Bancorp DE now owns 2,044 shares of the medical instruments supplier's stock worth $36,000 after acquiring an additional 1,930 shares during the last quarter. Brooklyn Investment Group increased its holdings in STAAR Surgical by 1,564.0% in the 1st quarter. Brooklyn Investment Group now owns 2,679 shares of the medical instruments supplier's stock worth $47,000 after acquiring an additional 2,518 shares during the last quarter. GAMMA Investing LLC increased its holdings in STAAR Surgical by 61.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,856 shares of the medical instruments supplier's stock worth $50,000 after acquiring an additional 706 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in STAAR Surgical by 691.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the medical instruments supplier's stock worth $61,000 after acquiring an additional 3,151 shares during the last quarter. 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.

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