STAAR Surgical (NASDAQ:STAA) Receives Consensus Rating of "Hold" from Brokerages

Shares of STAAR Surgical (NASDAQ:STAA - Get Free Report) have received an average rating of "Hold" from the eleven ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $24.63.

Several research firms have issued reports on STAA. Mizuho cut STAAR Surgical from an "outperform" rating to a "neutral" rating and dropped their price target for the company from $45.00 to $17.00 in a report on Wednesday, February 12th. BTIG Research cut shares of STAAR Surgical from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 12th. Canaccord Genuity Group reiterated a "hold" rating and set a $20.00 price objective on shares of STAAR Surgical in a research report on Tuesday, May 27th. Piper Sandler lowered their price objective on shares of STAAR Surgical from $40.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of STAAR Surgical in a research report on Wednesday, May 21st.

STAAR Surgical Stock Performance

Shares of NASDAQ STAA traded up $0.47 during trading on Thursday, hitting $17.87. The company had a trading volume of 918,681 shares, compared to its average volume of 849,473. The company has a market cap of $885.03 million, a P/E ratio of -43.59 and a beta of 0.63. STAAR Surgical has a 52 week low of $13.50 and a 52 week high of $49.86. The business's 50-day moving average is $17.73 and its 200 day moving average is $20.39.

STAAR Surgical declared that its board has approved a stock repurchase plan on Friday, May 16th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the medical instruments supplier to purchase up to 3.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In related news, major shareholder Broadwood Partners, L.P. purchased 8,200 shares of the stock in a transaction dated Wednesday, April 9th. The shares were acquired at an average cost of $15.08 per share, for a total transaction of $123,656.00. Following the acquisition, the insider now directly owns 13,518,591 shares in the company, valued at approximately $203,860,352.28. The trade was a 0.06% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 937,614 shares of company stock worth $15,384,739 in the last ninety days. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On STAAR Surgical

A number of large investors have recently bought and sold shares of STAA. US Bancorp DE boosted its holdings in STAAR Surgical by 1,693.0% in the first quarter. US Bancorp DE now owns 2,044 shares of the medical instruments supplier's stock worth $36,000 after purchasing an additional 1,930 shares in the last quarter. Brooklyn Investment Group boosted its holdings in STAAR Surgical by 1,564.0% in the first quarter. Brooklyn Investment Group now owns 2,679 shares of the medical instruments supplier's stock worth $47,000 after purchasing an additional 2,518 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in STAAR Surgical in the fourth quarter worth $180,000. EntryPoint Capital LLC bought a new stake in STAAR Surgical in the first quarter worth $189,000. Finally, Strs Ohio bought a new stake in STAAR Surgical in the first quarter worth $190,000. 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.