STAAR Surgical (NASDAQ:STAA) Given Average Rating of "Hold" by Analysts

Shares of STAAR Surgical (NASDAQ:STAA - Get Free Report) have received an average rating of "Hold" from the eleven brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $24.63.

A number of research analysts have recently weighed in on the company. Needham & Company LLC restated a "hold" rating on shares of STAAR Surgical in a report on Wednesday, May 21st. William Blair cut STAAR Surgical from an "outperform" rating to a "market perform" rating in a research note on Wednesday, February 12th. BTIG Research downgraded shares of STAAR Surgical from a "buy" rating to a "neutral" rating in a report on Wednesday, February 12th. Mizuho downgraded shares of STAAR Surgical from an "outperform" rating to a "neutral" rating and lowered their target price for the company from $45.00 to $17.00 in a report on Wednesday, February 12th. Finally, Canaccord Genuity Group reissued a "hold" rating and set a $20.00 price target on shares of STAAR Surgical in a research report on Tuesday, May 27th.

Insider Activity at STAAR Surgical

In related news, major shareholder Broadwood Partners, L.P. bought 3,620 shares of the company's stock in a transaction on Thursday, March 27th. The shares were purchased at an average price of $17.48 per share, for a total transaction of $63,277.60. Following the completion of the transaction, the insider now directly owns 12,424,944 shares in the company, valued at approximately $217,188,021.12. The trade was a 0.03% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have bought 937,614 shares of company stock worth $15,384,739. Company insiders own 1.00% of the company's stock.

Institutional Trading of STAAR Surgical

A number of institutional investors have recently added to or reduced their stakes in STAA. US Bancorp DE increased its position in shares of STAAR Surgical by 1,693.0% during the first quarter. US Bancorp DE now owns 2,044 shares of the medical instruments supplier's stock valued at $36,000 after buying an additional 1,930 shares during the period. Brooklyn Investment Group grew its stake in STAAR Surgical by 1,564.0% during the first quarter. Brooklyn Investment Group now owns 2,679 shares of the medical instruments supplier's stock valued at $47,000 after acquiring an additional 2,518 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in STAAR Surgical during the 4th quarter worth approximately $180,000. EntryPoint Capital LLC purchased a new stake in STAAR Surgical in the 1st quarter worth approximately $189,000. Finally, Strs Ohio bought a new position in STAAR Surgical in the 1st quarter valued at $190,000. Hedge funds and other institutional investors own 96.70% of the company's stock.

STAAR Surgical Trading Up 2.7%

Shares of STAA traded up $0.47 during trading hours on Thursday, reaching $17.87. The stock had a trading volume of 918,681 shares, compared to its average volume of 845,067. The firm has a 50-day simple moving average of $17.73 and a 200 day simple moving average of $20.53. STAAR Surgical has a 12 month low of $13.50 and a 12 month high of $49.86. The company has a market capitalization of $885.03 million, a price-to-earnings ratio of -43.59 and a beta of 0.63.

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

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.